Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 89,861 $ 6,060
Accounts receivable—oil and natural gas sales 119,879 121,210
Accounts receivable—joint interest and other 12,200 47,975
Prepaid expenses and other current assets 160,664 4,431
Short-term derivative instruments 27,146 126,201
Total current assets 409,750 305,877
Property and equipment:    
Oil and natural gas properties, full-cost accounting, $1,457,043 and $1,686,666 excluded from amortization in 2020 and 2019, respectively 10,816,909 10,595,735
Other property and equipment 88,538 96,719
Accumulated depletion, depreciation, amortization and impairment (8,819,178) (7,228,660)
Property and equipment, net 2,086,269 3,463,794
Other assets:    
Equity investments 24,816 32,044
Long-term derivative instruments 322 563
Deferred tax asset 0 7,563
Operating lease assets 342 14,168
Operating lease assets - related parties 0 43,270
Other assets 18,372 15,540
Total other assets 43,852 113,148
Total assets 2,539,871 3,882,819
Current liabilities:    
Accounts payable and accrued liabilities 244,903 415,218
Short-term derivative instruments 11,641 303
Current portion of operating lease liabilities 0 13,826
Current portion of operating lease liabilities - related parties 0 21,220
Current maturities of long-term debt 253,743 631
Total current liabilities 510,287 451,198
Non-current liabilities:    
Long-term derivative instruments 36,604 53,135
Asset retirement obligation—long-term 0 60,355
Uncertain tax position liability 0 3,127
Non-current operating lease liabilities 0 342
Non-current operating lease liabilities - related parties 0 22,050
Long-term debt, net of current maturities 0 1,978,020
Total non-current liabilities 36,604 2,117,029
Liabilities subject to compromise 2,293,480 0
Total liabilities 2,840,371 2,568,227
Commitments and contingencies (Notes 17 and 18)
Preferred stock, $0.01 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’ (deficit) equity:    
Common stock - $0.01 par value, 200,000,000 shares authorized, 160,762,186 issued and outstanding in 2020 and 159,710,955 in 2019 1,607 1,597
Paid-in capital 4,213,752 4,207,554
Accumulated other comprehensive loss (43,000) (46,833)
Accumulated deficit (4,472,859) (2,847,726)
Total stockholders’ (deficit) equity (300,500) 1,314,592
Total liabilities and stockholders’ (deficit) equity $ 2,539,871 $ 3,882,819