Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 2,817 $ 6,060
Accounts receivable—oil and natural gas sales 65,645 121,210
Accounts receivable—joint interest and other 19,389 47,975
Prepaid expenses and other current assets 10,862 4,431
Short-term derivative instruments 53,188 126,201
Total current assets 151,901 305,877
Property and equipment:    
Oil and natural gas properties, full-cost accounting, $1,564,189 and $1,686,666 excluded from amortization in 2020 and 2019, respectively 10,730,992 10,595,735
Other property and equipment 96,838 96,719
Accumulated depletion, depreciation, amortization and impairment (8,457,464) (7,228,660)
Property and equipment, net 2,370,366 3,463,794
Other assets:    
Equity investments 13,052 32,044
Long-term derivative instruments 4,298 563
Deferred tax asset 0 7,563
Operating lease assets 3,640 14,168
Operating lease assets—related parties 0 43,270
Other assets 37,000 15,540
Total other assets 57,990 113,148
Total assets 2,580,257 3,882,819
Current liabilities:    
Accounts payable and accrued liabilities 315,575 415,218
Short-term derivative instruments 8,540 303
Current portion of operating lease liabilities 3,356 13,826
Current portion of operating lease liabilities—related parties 0 21,220
Current maturities of long-term debt 649 631
Total current liabilities 328,120 451,198
Long-term derivative instruments 45,615 53,135
Asset retirement obligation 61,371 60,355
Uncertain tax position liability 3,209 3,127
Non-current operating lease liabilities 284 342
Non-current operating lease liabilities—related parties 0 22,050
Long-term debt, net of current maturities 1,910,318 1,978,020
Total liabilities 2,348,917 2,568,227
Commitments and contingencies (Note 9)
Preferred stock, $0.01 par value; 5.0 million shares authorized (30 thousand authorized as redeemable 12% cumulative preferred stock, Series A), and none issued and outstanding 0 0
Stockholders’ equity:    
Common stock - $0.01 par value, 200.0 million shares authorized, 160.1 million issued and outstanding at June 30, 2020 and 159.7 million at December 31, 2019 1,601 1,597
Paid-in capital 4,211,062 4,207,554
Accumulated other comprehensive loss (54,991) (46,833)
Accumulated deficit (3,926,332) (2,847,726)
Total stockholders’ equity 231,340 1,314,592
Total liabilities and stockholders’ equity $ 2,580,257 $ 3,882,819