Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 73,351 $ 85,414
Receivables:    
Oil and natural gas sales 35,772 35,005
Joint interest and other 17,688 22,012
Total receivables 53,460 57,017
Prepaid expenses and other assets 16,145 26,879
Total current assets 142,956 169,310
Property and equipment - at cost:    
Oil and natural gas properties and equipment (full cost method, of which $0 at September 30, 2016 and $18,595 at December 31, 2015 were excluded from amortization) 7,937,338 7,902,494
Furniture, fixtures and other 20,898 20,802
Total property and equipment 7,958,236 7,923,296
Less accumulated depreciation, depletion and amortization 7,371,677 6,933,247
Net property and equipment 586,559 990,049
Deferred income taxes 12,395 27,595
Restricted deposits for asset retirement obligations 26,767 15,606
Income tax receivables 52,097  
Other assets 11,823 5,462
Total assets 832,597 1,208,022
Current liabilities:    
Accounts payable 83,309 109,797
Undistributed oil and natural gas proceeds 21,239 21,439
Asset retirement obligations 90,150 84,335
Long-term debt 8,763  
Accrued liabilities 19,573 11,922
Total current liabilities 223,034 227,493
Long-term debt, less current portion 1,014,221 1,196,855
Asset retirement obligations, less current portion 256,656 293,987
Other liabilities 16,683 16,178
Commitments and contingencies
Shareholders’ deficit:    
Preferred stock, $0.00001 par value; 20,000,000 shares authorized; 0 issued at September 30, 2016 and December 31, 2015
Common stock, $0.00001 par value; 200,000,000 shares authorized; 139,951,997 issued and 137,082,824 outstanding at September 30, 2016; 79,375,662 issued and 76,506,489 outstanding at December 31, 2015 1 1
Additional paid-in capital 537,496 423,499
Retained earnings (deficit) (1,191,327) (925,824)
Treasury stock, at cost; 2,869,173 shares at September 30, 2016 and December 31, 2015 (24,167) (24,167)
Total shareholders’ equity (deficit) (677,997) (526,491)
Total liabilities and shareholders’ equity (deficit) $ 832,597 $ 1,208,022