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
Mar. 31, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 170,382 $ 458,956
Accounts receivable—oil and gas 86,768 58,824
Accounts receivable—related parties 570 2,617
Prepaid expenses and other current assets 3,352 2,581
Deferred tax asset 7,558 6,927
Short-term derivative instruments    324
Note receivable - related party 875 875
Total current assets 269,505 531,104
Property and equipment:    
Oil and natural gas properties, full-cost accounting, $1,138,085 and $950,590 excluded from amortization in 2014 and 2013, respectively 2,906,976 2,477,178
Other property and equipment 12,224 11,131
Accumulated depletion, depreciation, amortization and impairment (841,561) (784,717)
Property and equipment, net 2,077,639 1,703,592
Other assets:    
Equity investments ($227,474 and $178,708 attributable to fair value option in 2014 and 2013, respectively) 499,419 440,068
Derivative instruments 2,565 521
Other assets 17,581 17,851
Total other assets 519,565 458,440
Total assets 2,866,709 2,693,136
Current liabilities:    
Accounts payable and accrued liabilities 239,099 190,707
Asset retirement obligation—current 795 795
Short-term derivative instruments 29,755 12,280
Current maturities of long-term debt 161 159
Total current liabilities 269,810 203,941
Long-term derivative instrument 4,277 11,366
Asset retirement obligation—long-term 14,650 14,288
Deferred tax liability 148,470 114,275
Long-term debt, net of current maturities 299,062 299,028
Total liabilities 736,269 642,898
Commitments and contingencies (Note 8)      
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, 85,424,391 issued and outstanding in 2014 and 85,177,532 in 2013 853 851
Paid-in capital 1,817,978 1,813,058
Accumulated other comprehensive loss (17,059) (9,781)
Retained earnings 328,668 246,110
Total stockholders’ equity 2,130,440 2,050,238
Total liabilities and stockholders’ equity $ 2,866,709 $ 2,693,136