Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.3.1.900
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 85,414 $ 23,666
Receivables:    
Oil and natural gas sales 35,005 67,242
Joint interest and other 22,012 43,645
Total receivables 57,017 110,887
Prepaid expenses and other assets 26,879 36,347
Total current assets 169,310 170,900
Property and equipment - at cost:    
Oil and natural gas properties and equipment (full cost method, of which $18,595 at December 31, 2015 and $109,824 at December 31, 2014 were excluded from amortization) 7,902,494 8,045,666
Furniture, fixtures and other 20,802 23,269
Total property and equipment 7,923,296 8,068,935
Less accumulated depreciation, depletion and amortization 6,933,247 5,575,078
Net property and equipment 990,049 2,493,857
Deferred income taxes 27,595  
Restricted deposits for asset retirement obligations 15,606 15,444
Other assets 5,462 9,307
Total assets 1,208,022 2,689,508
Current liabilities:    
Accounts payable 109,797 194,109
Undistributed oil and natural gas proceeds 21,439 37,009
Asset retirement obligations 84,335 36,003
Accrued liabilities 11,922 17,377
Total current liabilities 227,493 284,498
Long-term debt 1,196,855 1,352,120
Asset retirement obligations, less current portion 293,987 354,565
Deferred income taxes   175,326
Other liabilities $ 16,178 $ 13,691
Commitments and contingencies
Shareholders’ equity (deficit):    
Preferred stock, $0.00001 par value; 20,000,000 shares authorized; 0 issued at December 31, 2015 and 2014
Common stock, $0.00001 par value; 118,330,000 shares authorized; 79,375,662 issued and 76,506,489 outstanding at December 31, 2015; 78,768,588 issued and 75,899,415 outstanding at December 31, 2014 $ 1 $ 1
Additional paid-in capital 423,499 414,580
Retained earnings (deficit) (925,824) 118,894
Treasury stock, at cost; 2,869,173 shares at December 31, 2015 and 2014 (24,167) (24,167)
Total shareholders’ equity (deficit) (526,491) 509,308
Total liabilities and shareholders’ equity (deficit) $ 1,208,022 $ 2,689,508