Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation (Tables)

v3.10.0.1
Basis of Presentation (Tables)
6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Schedule of Amounts Recorded in Prepaid Expenses and Other Assets

The amounts recorded are expected to be realized within one year and the major categories are presented in the following table (in thousands):

 

June 30,

 

 

December 31,

 

 

2018

 

 

2017

 

Prepaid/accrued insurance

$

4,526

 

 

$

2,401

 

Surety bond unamortized premiums

 

3,305

 

 

 

2,676

 

Prepaid deposits related to royalties

 

8,391

 

 

 

6,456

 

Advances for capital expenditures

 

1,098

 

 

 

 

Derivative contract premiums

 

1,582

 

 

 

 

Other

 

1,568

 

 

 

1,886

 

Prepaid expenses and other assets

$

20,470

 

 

$

13,419

 

 

Schedule of Oil and Natural Gas Properties and other, Net at Cost

Oil and Natural Gas Properties and Other, Net – at cost.  Oil and natural gas properties and equipment are recorded at cost using the full cost method.  There were no amounts excluded from amortization as of the dates presented in the following table (in thousands):

 

 

June 30,

 

 

December 31,

 

 

2018

 

 

2017

 

Oil and natural gas properties and equipment

$

8,167,664

 

 

$

8,102,044

 

Furniture, fixtures and other

 

21,831

 

 

 

21,831

 

Total property and equipment

 

8,189,495

 

 

 

8,123,875

 

Less accumulated depreciation, depletion

   and amortization

 

7,613,422

 

 

 

7,544,859

 

Oil and natural gas properties and other, net

$

576,073

 

 

$

579,016

 

 

Schedule of Other Assets (Long-term)

The major categories are presented in the following table (in thousands)

 

 

June 30,

 

 

December 31,

 

 

2018

 

 

2017

 

Escrow deposit - Apache lawsuit

$

49,500

 

 

$

49,500

 

Appeal bond deposits

 

6,925

 

 

 

6,925

 

Investment in White Cap, LLC

 

2,648

 

 

 

2,511

 

Deposit related to the Credit Agreement

 

4,702

 

 

 

 

Unamortized brokerage fee for Monza

 

2,182

 

 

 

 

Proportional consolidation of Monza's

   other assets  (Note 4)

 

2,301

 

 

 

 

Other

 

1,160

 

 

 

1,457

 

Total other assets

$

69,418

 

 

$

60,393

 

 

Schedule of Accrued Liabilities

The major categories are presented in the following table (in thousands):

 

June 30,

 

 

December 31,

 

 

2018

 

 

2017

 

Accrued interest

$

4,199

 

 

$

4,200

 

Accrued salaries/payroll taxes/benefits

 

2,996

 

 

 

2,454

 

Incentive compensation plans

 

3,987

 

 

 

7,366

 

Litigation accruals

 

3,604

 

 

 

3,480

 

Derivative contracts

 

5,281

 

 

 

 

Other

 

438

 

 

 

430

 

Total accrued liabilities

$

20,505

 

 

$

17,930

 

 

Schedule of Other Liabilities (Long-term)

The major categories are presented in the following table (in thousands):

 

 

June 30,

 

 

December 31,

 

 

2018

 

 

2017

 

Apache lawsuit

$

49,500

 

 

$

49,500

 

Uncertain tax positions including interest/penalties

 

11,236

 

 

 

11,015

 

Dispute related to royalty deductions

 

4,687

 

 

 

 

Dispute related to royalty-in-kind

 

2,083

 

 

 

914

 

Other

 

5,501

 

 

 

5,437

 

Total other liabilities (long-term)

$

73,007

 

 

$

66,866