Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Assets    
Cash and cash equivalents $ 4,512 $ 28,655
Receivables:    
Oil and natural gas sales 98,550 79,911
Joint interest and other 25,089 25,415
Insurance 715 1,014
Total receivables 124,354 106,340
Deferred income taxes 2,007 5,784
Prepaid expenses and other assets 30,315 23,426
Total current assets 161,188 164,205
Property and equipment - at cost:    
Oil and natural gas properties and equipment (full cost method, of which $154,516 at December 31, 2011 and $65,419 at December 31, 2010 were excluded from amortization) 5,959,016 5,225,582
Furniture, fixtures and other 19,500 15,841
Total property and equipment 5,978,516 5,241,423
Less accumulated depreciation, depletion and amortization 4,320,410 4,021,395
Net property and equipment 1,658,106 1,220,028
Restricted deposits for asset retirement obligations 33,462 30,636
Deferred income taxes    2,819
Other assets 16,169 6,406
Total assets 1,868,925 1,424,094
Liabilities and Shareholders' Equity    
Accounts payable 75,871 80,442
Undistributed oil and natural gas proceeds 33,732 25,240
Asset retirement obligations 138,185 92,575
Accrued liabilities 29,705 25,827
Income taxes payable 10,392 17,552
Total current liabilities 287,885 241,636
Long-term debt, less current maturities 717,000 450,000
Asset retirement obligations, less current portion 255,695 298,741
Deferred income taxes 58,881  
Other liabilities 4,890 11,974
Commitments and contingencies      
Shareholders' equity:    
Preferred stock, $0.00001 par value, 2,000,000 shares authorized and 0 issued at December 31, 2011 and at December 31, 2010      
Common stock, $0.00001 par value; 118,330,000 shares authorized; 77,220,706 issued and 74,351,533 outstanding at December 31, 2011; 77,343,520 issued and 74,474,347 outstanding at December 31, 2010; 1 1
Additional paid-in capital 386,920 377,529
Retained earnings 181,820 68,380
Treasury stock, at cost (24,167) (24,167)
Total shareholders' equity 544,574 421,743
Total liabilities and shareholders' equity $ 1,868,925 $ 1,424,094