Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 173,338 $ 461,357
Restricted cash 4,417 4,417
Accounts receivable:    
Oil and natural gas sales 52,080 66,146
Joint interest, net 15,480 14,000
Other 2,218  
Prepaid expenses and other current assets (Note 16) 17,447 24,343
Total current assets 264,980 570,263
Oil and natural gas properties and other, net (Note 1) 749,056 735,215
Restricted deposits for asset retirement obligations 22,272 21,483
Deferred income taxes 38,774 57,280
Other assets (Note 16) 38,923 47,549
Total assets 1,114,005 1,431,790
Current liabilities:    
Accounts payable 78,857 65,158
Accrued liabilities (Note 16) 31,879 74,041
Undistributed oil and natural gas proceeds 42,134 41,934
Advances from joint interest partners 2,962 3,181
Income tax payable 99 412
Current portion of asset retirement obligation (Note 8) 31,553 25,359
Current portion of long-term debt, net (Note 2) 29,368 582,249
Total current liabilities 216,852 792,334
Asset retirement obligations (Note 8) 467,262 441,071
Long-term debt, net (Note 2) 361,236 111,188
Deferred income taxes 51 72
Other liabilities (Note 16) 19,369 59,134
Commitments and contingencies (Note 17 and 19) 18,043 20,357
Shareholders' equity:    
Preferred stock, $0.00001 par value; 20,000 shares authorized; none issued at December 31, 2023 and December 31, 2022
Common stock, $0.00001 par value; 400,000 shares authorized; 149,450 issued and 146,581 outstanding at December 31, 2023; 149,002 issued and 146,133 outstanding at December 31, 2022 1 1
Additional paid-in capital 586,014 576,588
Retained deficit (530,656) (544,788)
Treasury stock, at cost; 2,869 shares (24,167) (24,167)
Total shareholders' equity 31,192 7,634
Total liabilities and shareholders' equity $ 1,114,005 $ 1,431,790