Quarterly report pursuant to Section 13 or 15(d)

CONDENSED BALANCE SHEETS

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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current Assets:    
Cash and Cash Equivalents $ 2,794 $ 2,358
Accounts Receivable, Net 87,697 96,353
Advances to Operators 1,425 268
Prepaid Expenses and Other 8,226 12,360
Derivative Instruments 32,531 115,870
Income Tax Receivable 395 1,205
Total Current Assets 133,068 228,415
Oil and Natural Gas Properties, Full Cost Method of Accounting    
Proved 3,607,214 3,431,428
Unproved 9,249 4,307
Other Property and Equipment 1,609 998
Total Property and Equipment 3,618,072 3,436,732
Less – Accumulated Depreciation, Depletion and Impairment (2,324,790) (2,233,987)
Total Property and Equipment, Net 1,293,282 1,202,745
Derivative Instruments 26,610 61,843
Deferred Income Taxes 420 420
Acquisition Deposit 31,000 0
Other Noncurrent Assets, Net 10,012 10,223
Total Assets 1,494,391 1,503,645
Current Liabilities:    
Accounts Payable 93,355 55,015
Accrued Liabilities 83,880 83,237
Accrued Interest 15,050 16,468
Debt Exchange Derivative 2,791 18,183
Derivative Instruments 95 0
Contingent Consideration 36,992 58,069
Other Current Liabilities 566 555
Total Current Liabilities 232,726 231,526
Long-term Debt, Net 857,198 830,203
Derivative Instruments 1,644 0
Asset Retirement Obligations 12,845 11,946
Other Noncurrent Liabilities 329 105
TOTAL LIABILITIES 1,104,742 1,073,780
COMMITMENTS AND CONTINGENCIES (NOTE 8)
STOCKHOLDERS’ EQUITY    
Preferred Stock, Par Value $.001; 5,000,000 Authorized, No Shares Outstanding 0 0
Common Stock, Par Value $.001; 675,000,000 Shares Authorized; 389,435,991 Shares Outstanding at 6/30/2019 378,333,070 Shares Outstanding at 12/31/2018 389 378
Additional Paid-In Capital 1,248,906 1,226,371
Retained Deficit (859,647) (796,884)
Total Stockholders’ Equity 389,649 429,865
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,494,391 $ 1,503,645