Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 52,297,000 $ 99,557,000
Accounts receivable—oil and natural gas sales 210,200,000 146,773,000
Accounts receivable - joint interest and other 22,497,000 35,440,000
Prepaid expenses and other current assets 10,607,000 4,912,000
Short-term derivative instruments 21,352,000 78,847,000
Total current assets 316,953,000 365,529,000
Property and equipment:    
Oil and natural gas properties, full-cost accounting, $2,873,037 and $2,912,974 excluded from amortization in 2018 and 2017, respectively 10,026,836,000 9,169,156,000
Other property and equipment 92,667,000 86,754,000
Accumulated depletion, depreciation, amortization and impairment (4,640,098,000) (4,153,733,000)
Property and equipment, net 5,479,405,000 5,102,177,000
Other assets:    
Equity investments 236,121,000 302,112,000
Long-term derivative instruments 0 8,685,000
Deferred tax asset 0 1,208,000
Inventories 4,754,000 8,227,000
Other assets 13,803,000 19,814,000
Total other assets 254,678,000 340,046,000
Total assets 6,051,036,000 5,807,752,000
Current liabilities:    
Accounts payable and accrued liabilities 518,380,000 553,609,000
Asset retirement obligation—current 0 120,000
Short-term derivative instruments 20,401,000 32,534,000
Current maturities of long-term debt 651,000 622,000
Total current liabilities 539,432,000 586,885,000
Long-term derivative instruments 13,992,000 2,989,000
Asset retirement obligation—long-term 79,952,000 74,980,000
Deferred tax liability 3,127,000 0
Other non-current liabilities 0 2,963,000
Long-term debt, net of current maturities 2,086,765,000 2,038,321,000
Total liabilities 2,723,268,000 2,706,138,000
Commitments and contingencies (Notes 16 and 17)
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, 162,986,045 issued and outstanding in 2018 and 183,105,910 in 2017 1,630,000 1,831,000
Paid-in capital 4,227,532,000 4,416,250,000
Accumulated other comprehensive loss (56,026,000) (40,539,000)
Accumulated deficit (845,368,000) (1,275,928,000)
Total stockholders’ equity 3,327,768,000 3,101,614,000
Total liabilities and stockholders’ equity $ 6,051,036,000 $ 5,807,752,000