Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 461,357 $ 245,799
Restricted cash 4,417 4,417
Receivables:    
Oil and natural gas sales 66,146 54,919
Joint interest, net 14,000 9,745
Total receivables 80,146 64,664
Prepaid expenses and other assets (Note 1) 24,343 43,379
Total current assets 570,263 358,259
Oil and natural gas properties and other, net (Note 1) 735,215 665,252
Restricted deposits for asset retirement obligations 21,483 16,019
Deferred income taxes 57,280 102,505
Other assets (Note 1) 47,549 51,172
Total assets 1,431,790 1,193,207
Current liabilities:    
Accounts payable 65,158 67,409
Undistributed oil and natural gas proceeds 41,934 36,243
Advances from joint interest partners 3,181 15,072
Asset retirement obligations 25,359 56,419
Accrued liabilities 74,041 106,140
Current portion of long-term debt, net 582,249 42,960
Income tax payable 412 133
Total current liabilities 792,334 324,376
Long-term debt (Note 2)    
Principal 114,158 700,359
Unamortized debt issuance costs (2,970) (12,421)
Long-term debt, net (Note 2) 111,188 687,938
Asset retirement obligations, less current portion 441,071 368,076
Other liabilities (Note 1) 59,134 55,389
Deferred income taxes 72 113
Commitments and contingencies (Note 12) 20,357 4,495
Shareholders' equity (deficit):    
Preferred stock, $0.00001 par value; 20,000 shares authorized; none issued at December 31, 2022 and December 31, 2021
Common stock, $0.00001 par value; 200,000 shares authorized; 149,002 issued and 146,133 outstanding at December 31, 2022; 145,732 issued and 142,863 outstanding at December 31, 2021 1 1
Additional paid-in capital 576,588 552,923
Retained deficit (544,788) (775,937)
Treasury stock, at cost; 2,869 shares at December 31, 2022 and December 31, 2021 (24,167) (24,167)
Total shareholders' equity (deficit) 7,634 (247,180)
Total liabilities and shareholders' equity (deficit) $ 1,431,790 $ 1,193,207