Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 6,060 $ 52,297
Accounts receivable—oil and natural gas sales 121,210 210,200
Accounts receivable - joint interest and other 47,975 22,497
Prepaid expenses and other current assets 4,431 10,017
Short-term derivative instruments 126,201 21,352
Total current assets 305,877 316,363
Property and equipment:    
Oil and natural gas properties, full-cost accounting, $1,686,666 and $2,873,037 excluded from amortization in 2019 and 2018, respectively 10,595,735 10,026,836
Other property and equipment 96,719 92,667
Accumulated depletion, depreciation, amortization and impairment (7,228,660) (4,640,098)
Property and equipment, net 3,463,794 5,479,405
Other assets:    
Equity investments 32,044 236,121
Long-term derivative instruments 563 0
Deferred tax asset 7,563 0
Inventories 5,182 5,344
Operating lease assets 14,168 0
Operating lease assets - related parties 43,270 0
Other assets 10,358 13,803
Total other assets 113,148 255,268
Total assets 3,882,819 6,051,036
Current liabilities:    
Accounts payable and accrued liabilities 415,218 518,380
Short-term derivative instruments 303 20,401
Current portion of operating lease liabilities 13,826 0
Current portion of operating lease liabilities - related parties 21,220 0
Current maturities of long-term debt 631 651
Total current liabilities 451,198 539,432
Long-term derivative instruments 53,135 13,992
Asset retirement obligation—long-term 60,355 79,952
Uncertain tax position liability 3,127 3,127
Non-current operating lease liabilities 342 0
Non-current operating lease liabilities - related parties 22,050 0
Long-term debt, net of current maturities 1,978,020 2,086,765
Total liabilities 2,568,227 2,723,268
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), and none issued and outstanding 0 0
Stockholders’ equity:    
Common stock - $.01 par value, 200,000,000 shares authorized, 159,710,955 issued and outstanding in 2019 and 162,986,045 in 2018 1,597 1,630
Paid-in capital 4,207,554 4,227,532
Accumulated other comprehensive loss (46,833) (56,026)
Accumulated deficit (2,847,726) (845,368)
Total stockholders’ equity 1,314,592 3,327,768
Total liabilities and stockholders’ equity $ 3,882,819 $ 6,051,036