Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 60,973 $ 45,917
Restricted cash 994 911
Receivables:    
Trade   14,335
Accounts with joint venture owners, net of allowance of $0.0 million and $0.5 million, respectively 117 2,714
Other 2,241 1,517
Crude oil inventory 3,865 1,072
Prepayments and other 10,859 3,292
Total current assets 79,049 69,758
Crude oil and natural gas properties and equipment - successful efforts method:    
Wells, platforms and other production facilities 442,866 422,651
Work-in-progress   7,378
Undeveloped acreage 21,476 23,771
Equipment and other 9,367 11,157
Crude oil and natural gas properties, equipment - successful efforts method 473,709 464,957
Accumulated depreciation, depletion, amortization and impairment (430,209) (396,699)
Net crude oil and natural gas properties, equipment and other 43,500 68,258
Other noncurrent assets:    
Restricted cash 925 925
Value added tax and other receivables, net of allowance of $1.7 million and $1.0 million, respectively 3,543 3,683
Right of use operating lease assets 30,448 33,383
Deferred tax assets   24,159
Abandonment funding 11,227 11,371
Total assets 168,692 211,537
Current liabilities:    
Accounts payable 14,804 15,897
Accounts with joint venture owners 11,271  
Accrued liabilities and other 22,990 29,773
Operating lease liabilities - current portion 12,050 11,990
Foreign taxes payable 4,177 5,740
Current liabilities - discontinued operations 395 350
Total current liabilities 65,687 63,750
Asset retirement obligations 16,421 15,844
Operating lease liabilities - net of current portion 18,379 21,371
Deferred tax liabilities 11,758  
Other long term liabilities 34 852
Total liabilities 112,279 101,817
Commitments and contingencies (Note 10)
Shareholders’ equity:    
Preferred stock, $25 par value; 500,000 shares authorized, none issued
Common stock, $0.10 par value; 100,000,000 shares authorized, 67,799,100 and 67,673,787 shares issued, 57,632,974 and 58,024,571 shares outstanding, respectively 6,780 6,767
Additional paid-in capital 73,681 73,549
Less treasury stock, 10,166,126 and 9,649,216 shares, respectively, at cost (42,081) (41,429)
Retained earnings 18,033 70,833
Total shareholders' equity 56,413 109,720
Total liabilities and shareholders' equity $ 168,692 $ 211,537