Quarterly report pursuant to Section 13 or 15(d)

CONDENSED BALANCE SHEETS

v3.20.2
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current Assets:    
Cash and Cash Equivalents $ 1,803 $ 16,068
Accounts Receivable, Net 60,067 108,274
Advances to Operators 714 893
Prepaid Expenses and Other 1,697 1,964
Derivative Instruments 119,468 5,628
Income Tax Receivable 0 210
Total Current Assets 183,749 133,037
Oil and Natural Gas Properties, Full Cost Method of Accounting    
Proved 4,344,346 4,178,605
Unproved 10,328 11,047
Other Property and Equipment 2,215 2,157
Total Property and Equipment 4,356,889 4,191,809
Less – Accumulated Depreciation, Depletion and Impairment (3,533,887) (2,443,216)
Total Property and Equipment, Net 823,002 1,748,593
Derivative Instruments 6,826 8,554
Deferred Income Taxes 0 210
Acquisition Deposit 225 0
Other Noncurrent Assets, Net 11,722 15,071
Total Assets 1,025,524 1,905,465
Current Liabilities:    
Accounts Payable 20,372 69,395
Accrued Liabilities 70,203 110,374
Accrued Interest 8,442 11,615
Derivative Instruments 5,438 11,298
Current Portion of Long-term Debt 65,000 0
Other Current Liabilities 1,000 795
Total Current Liabilities 170,455 203,477
Long-term Debt 918,327 1,118,161
Derivative Instruments 2,456 8,079
Asset Retirement Obligations 17,891 16,759
Other Noncurrent Liabilities 126 345
Total Liabilities 1,109,255 1,346,822
COMMITMENTS AND CONTINGENCIES
Stockholders’ Equity (Deficit)    
Preferred Stock, Par Value $.001; 5,000,000 Shares Authorized; 2,218,732 Series A Shares Outstanding at 9/30/2020 1,500,000 Series A Shares Outstanding at 12/31/2019 2 2
Common Stock, Par Value $.001; 135,000,000* Shares Authorized; 45,556,326* Shares Outstanding at 9/30/2020 40,608,518* Shares Outstanding at 12/31/2019 [1] 448 406
Additional Paid-In Capital 1,554,053 1,431,438
Retained Deficit (1,638,234) (873,203)
Total Stockholders’ Equity (Deficit) (83,731) 558,643
Total Liabilities and Stockholders’ Equity (Deficit) $ 1,025,524 $ 1,905,465
[1] Adjusted for the 1-for-10 reverse stock split.