Quarterly report pursuant to Section 13 or 15(d)

CONDENSED BALANCE SHEETS

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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current Assets:    
Cash and Cash Equivalents $ 1,838 $ 16,068
Accounts Receivable, Net 43,408 108,274
Advances to Operators 788 893
Prepaid Expenses and Other 2,204 1,964
Derivative Instruments 156,436 5,628
Income Tax Receivable 420 210
Total Current Assets 205,094 133,037
Oil and Natural Gas Properties, Full Cost Method of Accounting    
Proved 4,300,151 4,178,605
Unproved 10,681 11,047
Other Property and Equipment 2,164 2,157
Total Property and Equipment 4,312,996 4,191,809
Less – Accumulated Depreciation, Depletion and Impairment (3,303,913) (2,443,216)
Total Property and Equipment, Net 1,009,083 1,748,593
Derivative Instruments 34,566 8,554
Deferred Income Taxes 0 210
Acquisition Deposit 774 0
Other Noncurrent Assets, Net 13,756 15,071
Total Assets 1,263,273 1,905,465
Current Liabilities:    
Accounts Payable 50,005 69,395
Accrued Liabilities 54,216 110,374
Accrued Interest 7,895 11,615
Derivative Instruments 1,198 11,298
Current Portion of Long-term Debt 65,000 0
Other Current Liabilities 906 795
Total Current Liabilities 179,220 203,477
Long-term Debt 924,171 1,118,161
Derivative Instruments 1,428 8,079
Asset Retirement Obligations 17,526 16,759
Other Noncurrent Liabilities 199 345
Total Liabilities 1,122,544 1,346,822
COMMITMENTS AND CONTINGENCIES
Stockholders’ Equity    
Preferred Stock, Par Value $.001; 5,000,000 Shares Authorized; 2,294,702 Series A Shares Outstanding at 6/30/2020 1,500,000 Series A Shares Outstanding at 12/31/2019 2 2
Common Stock, Par Value $.001; 675,000,000 Shares Authorized; 436,439,915 Shares Outstanding at 6/30/2020 406,085,183 Shares Outstanding at 12/31/2019 436 406
Additional Paid-In Capital 1,544,407 1,431,438
Retained Deficit (1,404,117) (873,203)
Total Stockholders’ Equity 140,729 558,643
Total Liabilities and Stockholders’ Equity $ 1,263,273 $ 1,905,465