Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 171,824 $ 85,414
Receivables:    
Oil and natural gas sales 34,841 35,005
Joint interest and other 20,145 22,012
Income taxes 5,599  
Total receivables 60,585 57,017
Prepaid expenses and other assets 18,258 26,879
Total current assets 250,667 169,310
Property and equipment - at cost:    
Oil and natural gas properties and equipment (full cost method, of which $5,267 at June 30, 2016 and $18,595 at December 31, 2015 were excluded from amortization) 7,901,252 7,902,494
Furniture, fixtures and other 20,873 20,802
Total property and equipment 7,922,125 7,923,296
Less accumulated depreciation, depletion and amortization 7,266,289 6,933,247
Net property and equipment 655,836 990,049
Deferred income taxes 8,463 27,595
Restricted deposits for asset retirement obligations 26,409 15,606
Income tax receivables 52,097  
Other assets 4,882 5,462
Total assets 998,354 1,208,022
Current liabilities:    
Accounts payable 92,852 109,797
Undistributed oil and natural gas proceeds 20,659 21,439
Asset retirement obligations 91,296 84,335
Accrued liabilities 12,011 11,922
Total current liabilities 216,818 227,493
Long-term debt 1,345,051 1,196,855
Asset retirement obligations, less current portion 252,826 293,987
Other liabilities 16,462 16,178
Commitments and contingencies
Shareholders’ deficit:    
Preferred stock, $0.00001 par value; 20,000,000 shares authorized; 0 issued at June 30, 2016 and December 31, 2015
Common stock, $0.00001 par value; 118,330,000 shares authorized; 79,504,130 issued and 76,634,957 outstanding at June 30, 2016; 79,375,662 issued and 76,506,489 outstanding at December 31, 2015 1 1
Additional paid-in capital 428,618 423,499
Retained earnings (deficit) (1,237,255) (925,824)
Treasury stock, at cost; 2,869,173 shares at June 30, 2016 and December 31, 2015 (24,167) (24,167)
Total shareholders’ deficit (832,803) (526,491)
Total liabilities and shareholders’ deficit $ 998,354 $ 1,208,022