Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 370,623 $ 85,414
Receivables:    
Oil and natural gas sales 27,903 35,005
Joint interest and other 17,006 22,012
Total receivables 44,909 57,017
Prepaid expenses and other assets 23,035 26,879
Total current assets 438,567 169,310
Property and equipment - at cost:    
Oil and natural gas properties and equipment (full cost method, of which $5,165 at March 31, 2016 and $18,595 at December 31, 2015 were excluded from amortization) 7,895,402 7,902,494
Furniture, fixtures and other 20,802 20,802
Total property and equipment 7,916,204 7,923,296
Less accumulated depreciation, depletion and amortization 7,108,925 6,933,247
Net property and equipment 807,279 990,049
Deferred income taxes 32,553 27,595
Restricted deposits for asset retirement obligations 16,171 15,606
Other assets 4,225 5,462
Total assets 1,298,795 1,208,022
Current liabilities:    
Accounts payable 92,045 109,797
Undistributed oil and natural gas proceeds 20,654 21,439
Asset retirement obligations 83,778 84,335
Accrued liabilities 39,486 11,922
Current portion of long-term debt 138,999  
Total current liabilities 374,962 227,493
Long-term debt, less current maturities 1,345,954 1,196,855
Asset retirement obligations, less current portion 275,986 293,987
Other liabilities $ 16,357 $ 16,178
Commitments and contingencies
Shareholders’ equity (deficit):    
Preferred stock, $0.00001 par value; 20,000,000 shares authorized; 0 issued at March 31, 2016 and December 31, 2015
Common stock, $0.00001 par value; 118,330,000 shares authorized; 79,375,662 issued and 76,506,489 outstanding at March 31, 2016 and December 31, 2015 $ 1 $ 1
Additional paid-in capital 426,035 423,499
Retained earnings (deficit) (1,116,333) (925,824)
Treasury stock, at cost; 2,869,173 shares at March 31, 2016 and December 31, 2015 (24,167) (24,167)
Total shareholders’ equity (deficit) (714,464) (526,491)
Total liabilities and shareholders’ equity (deficit) $ 1,298,795 $ 1,208,022