Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2012
Dec. 31, 2011
Assets    
Cash and cash equivalents $ 6,613 $ 93,897
Accounts receivable-oil and gas 23,269 28,019
Accounts receivable-related parties 27,182 4,731
Prepaid expenses and other current assets 3,136 1,327
Short-term derivative instruments 9,714 1,601
Total current assets 69,914 129,575
Property and equipment:    
Oil and natural gas properties, full-cost accounting, $199,598,000 and $138,623,000 excluded from amortization in 2012 and 2011, respectively 1,219,376 1,035,754
Other property and equipment 8,387 8,024
Accumulated depletion, depreciation, amortization and impairment (620,182) (575,142)
Property and equipment, net 607,581 468,636
Other assets    
Equity investments 185,934 86,824
Note receivable - related party 1,595 0
Other assets 5,776 5,123
Total other assets 193,305 91,947
Deferred tax asset 1,000 1,000
Total assets 871,800 691,158
Liabilities and Stockholders' Equity    
Accounts payable and accrued liabilities 95,689 43,872
Asset retirement obligation-current 60 620
Current maturities of long-term debt 145 141
Total current liabilities 95,894 44,633
Asset retirement obligation - long-term 13,120 12,033
Long-term debt, net of current maturities 70,072 2,142
Total liabilities 179,086 58,808
Commitments and contingencies (Note 10)      
Preferred stock, $.01 par value; 5,000,000 authorized, 30,000 authorized as redeemable 12% cumulative preferred stock, Series A; 0 issued and outstanding      
Stockholders' equity:    
Common stock - $.01 par value, 100,000,000 authorized, 55,687,845 issued and outstanding in 2012 and 55,621,371 in 2011 557 556
Paid-in capital 606,853 604,584
Accumulated other comprehensive income (loss) 8,771 2,663
Retained earnings 76,533 24,547
Total stockholders' equity 692,714 632,350
Total liabilities and stockholders' equity $ 871,800 $ 691,158