Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 112,974 $ 142,340
Accounts receivable—oil and gas 71,872 103,858
Accounts receivable—related parties 16 46
Prepaid expenses and other current assets 3,905 3,714
Short-term derivative instruments 142,794 78,391
Total current assets 331,561 328,349
Property and equipment:    
Oil and natural gas properties, full-cost accounting, $1,817,701 and $1,465,538 excluded from amortization in 2015 and 2014, respectively 5,424,342 3,923,154
Other property and equipment 33,171 18,344
Accumulated depletion, depreciation, amortization and impairment (2,829,110) (1,050,879)
Property and equipment, net 2,628,403 2,890,619
Other assets:    
Equity investments 242,393 369,581
Long-term derivative instruments 51,088 24,448
Deferred tax asset 74,925 0
Other assets 6,364 6,476
Total other assets 374,770 400,505
Total assets 3,334,734 3,619,473
Current liabilities:    
Accounts payable and accrued liabilities 265,128 371,410
Asset retirement obligation—current 75 75
Short-term derivative instruments 437 0
Deferred tax liability 50,697 27,070
Current maturities of long-term debt 179 168
Total current liabilities 316,516 398,723
Long-term derivative instrument 6,935 0
Asset retirement obligation—long-term 26,362 17,863
Deferred tax liability 0 203,195
Long-term debt, net of current maturities 946,084 703,396
Total liabilities $ 1,295,897 $ 1,323,177
Commitments and contingencies (Notes 15 and 16)
Preferred stock, $.01 par value; 5,000,000 authorized, 30,000 authorized as redeemable 12% cumulative preferred stock, Series A; 0 issued and outstanding $ 0 $ 0
Stockholders’ equity:    
Common stock, $.01 par value; 200,000,000 authorized, 108,322,250 issued and outstanding in 2015 and 85,655,438 in 2014 1,082 856
Paid-in capital 2,824,303 1,828,602
Accumulated other comprehensive loss (55,177) (26,675)
Retained (deficit) earnings (731,371) 493,513
Total stockholders’ equity 2,038,837 2,296,296
Total liabilities and stockholders’ equity $ 3,334,734 $ 3,619,473