Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation (Tables)

v3.10.0.1
Basis of Presentation (Tables)
9 Months Ended
Sep. 30, 2018
Accounting Policies [Abstract]  
Schedule of Amounts Recorded in Prepaid Expenses and Other Assets

The amounts recorded are expected to be realized within one year and the major categories are presented in the following table (in thousands):

 

September 30,

 

 

December 31,

 

 

2018

 

 

2017

 

Prepaid/accrued insurance

$

4,214

 

 

$

2,401

 

Surety bond unamortized premiums

 

2,847

 

 

 

2,676

 

Prepaid deposits related to royalties

 

9,698

 

 

 

6,456

 

Advances for capital expenditures

 

860

 

 

 

 

Derivative contract premiums

 

791

 

 

 

 

Other

 

1,289

 

 

 

1,886

 

Prepaid expenses and other assets

$

19,699

 

 

$

13,419

 

 

Schedule of Oil and Natural Gas Properties and other, Net at Cost

Oil and Natural Gas Properties and Other, Net – at cost.  Oil and natural gas properties and equipment are recorded at cost using the full cost method.  There were no amounts excluded from amortization as of the dates presented in the following table (in thousands):

 

 

September 30,

 

 

December 31,

 

 

2018

 

 

2017

 

Oil and natural gas properties and equipment

$

8,146,742

 

 

$

8,102,044

 

Furniture, fixtures and other

 

20,227

 

 

 

21,831

 

Total property and equipment

 

8,166,969

 

 

 

8,123,875

 

Less accumulated depreciation, depletion

   and amortization

 

7,644,188

 

 

 

7,544,859

 

Oil and natural gas properties and other, net

$

522,781

 

 

$

579,016

 

 

Schedule of Other Assets (Long-term)

The major categories are presented in the following table (in thousands)

 

 

September 30,

 

 

December 31,

 

 

2018

 

 

2017

 

Escrow deposit - Apache lawsuit

$

49,500

 

 

$

49,500

 

Appeal bond deposits

 

6,925

 

 

 

6,925

 

Investment in White Cap, LLC

 

2,648

 

 

 

2,511

 

Deposit related to letters of credit

 

4,702

 

 

 

 

Unamortized brokerage fee for Monza

 

1,981

 

 

 

 

Proportional consolidation of Monza's

   other assets  (Note 4)

 

2,212

 

 

 

 

Other

 

1,046

 

 

 

1,457

 

Total other assets

$

69,014

 

 

$

60,393

 

 

Schedule of Accrued Liabilities

The major categories are presented in the following table (in thousands):

 

September 30,

 

 

December 31,

 

 

2018

 

 

2017

 

Accrued interest

$

15,041

 

 

$

4,200

 

Accrued salaries/payroll taxes/benefits

 

2,291

 

 

 

2,454

 

Incentive compensation plans

 

6,452

 

 

 

7,366

 

Litigation accruals

 

3,604

 

 

 

3,480

 

Derivative contracts

 

3,252

 

 

 

84

 

Other

 

418

 

 

 

346

 

Total accrued liabilities

$

31,058

 

 

$

17,930

 

 

Schedule of Other Liabilities (Long-term)

The major categories are presented in the following table (in thousands):

 

 

September 30,

 

 

December 31,

 

 

2018

 

 

2017

 

Apache lawsuit

$

49,500

 

 

$

49,500

 

Uncertain tax positions including interest/penalties

 

11,379

 

 

 

11,015

 

Dispute related to royalty deductions

 

4,687

 

 

 

 

Dispute related to royalty-in-kind

 

2,100

 

 

 

914

 

Other

 

5,509

 

 

 

5,437

 

Total other liabilities (long-term)

$

73,175

 

 

$

66,866