Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 245,799 $ 43,726
Restricted cash 4,417  
Receivables:    
Oil and natural gas sales 54,919 38,830
Joint interest, net 9,745 10,840
Total receivables 64,664 49,670
Prepaid expenses and other assets (Note 1) 43,379 13,832
Total current assets 358,259 107,228
Oil and natural gas properties and other, net (Note 1) 665,252 686,878
Restricted deposits for asset retirement obligations 16,019 29,675
Deferred income taxes 102,505 94,331
Other assets (Note 1) 51,172 22,470
Total assets 1,193,207 940,582
Current liabilities:    
Accounts payable 67,409 41,304
Undistributed oil and natural gas proceeds 36,243 19,167
Advances from joint interest partners 15,072 7,308
Asset retirement obligations 56,419 17,188
Accrued liabilities (Note 1) 106,140 29,880
Current portion of long-term debt 42,960  
Income tax payable 133 153
Total current liabilities 324,376 115,000
Long-term debt (Note 2)    
Principal 700,359 632,460
Unamortized debt issuance costs (12,421) (7,174)
Long-term debt, net 687,938 625,286
Asset retirement obligations, less current portion 368,076 375,516
Other liabilities (Note 1) 55,389 32,938
Deferred income taxes 113 128
Commitments and contingencies (Note 18) 4,495
Shareholders' deficit:    
Preferred stock, $0.00001 par value; 20,000 shares authorized; none issued at December 31, 2021 and December 31, 2020
Common stock, $0.00001 par value; 200,000 shares authorized; 145,732 issued and 142,863 outstanding at December 31, 2021; 145,174 issued and 142,305 outstanding at December 31, 2020 1 1
Additional paid-in capital 552,923 550,339
Retained deficit (775,937) (734,459)
Treasury stock, at cost; 2,869 shares at December 31, 2021 and December 31, 2020 (24,167) (24,167)
Total shareholders' deficit (247,180) (208,286)
Total liabilities and shareholders' deficit $ 1,193,207 $ 940,582