Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2012
Dec. 31, 2011
Assets    
Cash and cash equivalents $ 8,553 $ 4,512
Receivables:    
Oil and natural gas sales 72,429 98,550
Joint interest and other 21,410 25,804
Income tax receivable 12,033  
Total receivables 105,872 124,354
Deferred income taxes   2,007
Restricted cash and cash equivalents 30,763  
Prepaid expenses and other assets 54,110 30,315
Total current assets 199,298 161,188
Property and equipment - at cost:    
Oil and natural gas properties and equipment (full cost method, of which $155,403 at June 30, 2012 and $154,516 at December 31, 2011 were excluded from amortization) 6,090,065 5,959,016
Furniture, fixtures and other 20,169 19,500
Total property and equipment 6,110,234 5,978,516
Less accumulated depreciation, depletion and amortization 4,484,496 4,320,410
Net property and equipment 1,625,738 1,658,106
Restricted deposits for asset retirement obligations 28,514 33,462
Other assets 19,268 16,169
Total assets 1,872,818 1,868,925
Liabilities and Shareholders' Equity    
Accounts payable 86,215 75,871
Undistributed oil and natural gas proceeds 35,248 33,732
Asset retirement obligations 99,211 138,185
Accrued liabilities 15,980 29,705
Income taxes payable 363 10,392
Deferred income taxes - current portion 13,081  
Total current liabilities 250,098 287,885
Long-term debt 680,000 717,000
Asset retirement obligations, less current portion 249,790 255,695
Deferred income taxes 91,912 58,881
Other liabilities 5,851 4,890
Commitments and contingencies      
Shareholders' equity:    
Preferred stock, $0.00001 par value; 20,000,000 shares authorized; 0 issued at June 30, 2012 and December 31, 2011      
Common stock, $0.00001 par value; 118,330,000 shares authorized; 77,242,660 issued and 74,373,487 outstanding at June 30, 2012; and 77,220,706 issued and 74,351,533 outstanding at December 31, 2011 1 1
Additional paid-in capital 393,233 386,920
Retained earnings 226,100 181,820
Treasury stock, at cost (24,167) (24,167)
Total shareholders' equity 595,167 544,574
Total liabilities and shareholders' equity $ 1,872,818 $ 1,868,925