Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 45,917 $ 33,360
Restricted cash 911 804
Receivables:    
Trade 14,335 11,907
Accounts with joint venture owners, net of allowance of $0.5 million for both years 2,714 949
Other 1,517 1,398
Crude oil inventory 1,072 785
Prepayments and other 3,292 6,301
Current assets - discontinued operations   3,290
Total current assets 69,758 58,794
Crude oil and natural gas properties and equipment - successful efforts method:    
Wells, platforms and other production facilities 422,651 409,487
Work-in-progress 7,378 519
Undeveloped acreage 23,771 23,771
Equipment and other 11,157 9,552
Crude oil and natural gas properties, equipment - successful efforts method 464,957 443,329
Accumulated depreciation, depletion, amortization and impairment (396,699) (390,605)
Net crude oil and natural gas properties, equipment and other 68,258 52,724
Other noncurrent assets:    
Restricted cash 925 920
Value added tax and other receivables, net of allowance of $1.0 million and $2.0 million, respectively 3,683 2,226
Right of use operating lease assets 33,383  
Deferred tax assets 24,159 40,077
Abandonment funding 11,371 11,571
Total assets 211,537 166,312
Current liabilities:    
Accounts payable 15,897 8,083
Accounts with joint venture owners   304
Accrued liabilities and other 29,773 14,138
Operating lease liabilities - current portion 11,990  
Foreign taxes payable 5,740 3,274
Current liabilities - discontinued operations 350 15,245
Total current liabilities 63,750 41,044
Asset retirement obligations 15,844 14,816
Operating lease liabilities - net of current portion 21,371  
Other long term liabilities 852 625
Total liabilities 101,817 56,485
Commitments and contingencies (Note 12)
Shareholders’ equity:    
Preferred stock, $25 par value; 500,000 shares authorized, none issued
Common stock, $0.10 par value; 100,000,000 shares authorized, 67,673,787 and 67,167,994 shares issued, 58,024,571 and 59,595,742 shares outstanding, respectively 6,767 6,717
Additional paid-in capital 73,549 72,358
Less treasury stock, 9,649,216 and 7,572,251 shares, respectively, at cost (41,429) (37,827)
Retained earnings 70,833 68,579
Total shareholders' equity 109,720 109,827
Total liabilities and shareholders' equity $ 211,537 $ 166,312