| Schedule of Consolidation of Subsidiary Borrowers [Table Text Block] |
The following table presents the amounts recorded by W&T on the Condensed Consolidated Balance Sheets related to the consolidation of the Subsidiary Borrowers and the subsidiary that owns the equity of the Subsidiary Borrowers (in thousands):
|
|
|
|
|
|
|
|
|
June 30, 2023 |
|
December 31, 2022 |
Assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
5,899 |
|
$ |
21,764 |
Receivables: |
|
|
|
|
|
|
Oil and natural gas sales |
|
|
18,411 |
|
|
37,344 |
Joint interest, net |
|
|
(27,400) |
|
|
(5,760) |
Prepaid expenses and other assets |
|
|
125 |
|
|
417 |
Oil and natural gas properties and other, net |
|
|
289,959 |
|
|
280,649 |
Other assets |
|
|
11,486 |
|
|
8,473 |
Liabilities: |
|
|
|
|
|
|
Accounts payable |
|
|
8,996 |
|
|
27,387 |
Undistributed oil and natural gas proceeds |
|
|
3,625 |
|
|
7,930 |
Accrued liabilities |
|
|
19,036 |
|
|
45,102 |
Current portion of long-term debt |
|
|
30,074 |
|
|
32,119 |
Long-term debt, net |
|
|
94,918 |
|
|
111,188 |
Asset retirement obligations |
|
|
66,136 |
|
|
61,138 |
Other liabilities |
|
|
22,020 |
|
|
47,398 |
|
| Schedule of Subsidiary Borrowers and the subsidiary that owns the equity [Table Text Block] |
The following table presents the amounts recorded by W&T in the Condensed Consolidated Statement of Operations related to the consolidation of the operations of the Subsidiary Borrowers and the subsidiary that owns the equity of the Subsidiary Borrowers (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Total revenues |
|
$ |
25,437 |
|
$ |
76,846 |
|
$ |
46,560 |
|
$ |
124,361 |
Total operating expenses |
|
|
30,443 |
|
|
18,385 |
|
|
50,490 |
|
|
33,185 |
Interest expense, net |
|
|
3,229 |
|
|
3,658 |
|
|
5,411 |
|
|
8,436 |
Derivative (gain) loss, net |
|
|
(6,012) |
|
|
35,888 |
|
|
(52,389) |
|
|
132,046 |
|