v3.19.1
BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and Cash Equivalents $ 2,357,858 $ 102,183,191
Accounts Receivable, Net 96,352,918 46,851,682
Advances to Operators 268,494 604,977
Prepaid Expenses and Other 12,360,027 2,333,288
Derivative Instruments 115,870,246 0
Income Tax Receivable 1,205,016 785,016
Total Current Assets 228,414,559 152,758,154
Oil and Natural Gas Properties, Full Cost Method of Accounting    
Proved 3,431,427,768 2,585,490,133
Unproved 4,306,513 1,699,344
Other Property and Equipment 998,192 981,303
Total Property and Equipment 3,436,732,473 2,588,170,780
Less – Accumulated Depreciation, Depletion and Impairment (2,233,987,232) (2,114,951,189)
Total Property and Equipment, Net 1,202,745,241 473,219,591
Derivative Instruments 61,842,846 0
Deferred Income Taxes 420,000 785,000
Other Noncurrent Assets, Net 10,222,659 5,490,934
Total Assets 1,503,645,305 632,253,679
Current Liabilities:    
Accounts Payable 135,482,513 93,152,297
Accrued Expenses 2,769,438 6,339,425
Accrued Interest 16,467,628 4,836,112
Derivative Instruments 0 18,681,891
Contingent Consideration 58,068,917 0
Asset Retirement Obligations 554,589 565,521
Total Current Liabilities 231,526,297 123,575,246
Long-term Debt, Net 830,203,272 979,324,222
Derivative Instruments 0 11,496,929
Asset Retirement Obligations 11,946,271 8,562,607
Other Noncurrent Liabilities 104,582 135,225
TOTAL LIABILITIES 1,073,780,422 1,123,094,229
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY (DEFICIT)    
Preferred Stock, Par Value $.001; 5,000,000 Authorized, No Shares Outstanding 0 0
Common Stock, Par Value $.001; 675,000,000 Authorized (12/31/2018 – 378,333,070 Shares Outstanding and 12/31/2017 – 142,500,000 Authorized, 66,791,633 Shares Outstanding) 378,333 66,792
Additional Paid-In Capital 1,226,371,047 449,666,390
Retained Deficit (796,884,497) (940,573,732)
Total Stockholders’ Equity (Deficit) 429,864,883 (490,840,550)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) 1,503,645,305 632,253,679
Debt Exchange Derivative    
Current Liabilities:    
Derivative Instruments $ 18,183,212 $ 0

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