Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.19.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 46,195 $ 33,360
Restricted cash 788 804
Receivables:    
Trade 9,036 11,907
Accounts with joint venture owners, net of allowance of $0.5 million for both periods presented 77 949
Other 1,076 1,398
Crude oil inventory 1,274 785
Prepayments and other 3,580 6,301
Current assets - discontinued operations   3,290
Total current assets 62,026 58,794
Oil and natural gas properties and equipment - successful efforts method:    
Work-in-progress 1,130 519
Undeveloped acreage 23,771 23,771
Equipment and other 9,843 9,552
Gross oil and natural gas properties, equipment - successful efforts method 444,027 443,329
Accumulated depreciation, depletion, amortization and impairment (391,960) (390,605)
Net oil and natural gas properties, equipment and other 52,067 52,724
Other noncurrent assets:    
Restricted cash 921 920
Value added tax and other receivables, net of allowance of $1.3 million and $2.0 million, respectively 1,444 2,226
Right of use operating lease assets 36,631  
Deferred tax assets 37,021 40,077
Abandonment funding 11,390 11,571
Total assets 201,500 166,312
Current liabilities:    
Accounts payable 4,174 8,083
Accounts with joint venture owners 4,421 304
Accrued liabilities and other 15,158 14,138
Operating lease liability 10,334  
Foreign taxes payable 4,505 3,274
Current liabilities - discontinued operations 4,675 15,245
Total current liabilities 43,267 41,044
Asset retirement obligations 15,014 14,816
Long-term operating lease liabilities 26,297  
Other long-term liabilities 624 625
Total liabilities 85,202 56,485
Commitments and contingencies (Note 10)
Shareholders’ equity:    
Preferred stock, none issued, 500,000 shares authorized, $25 par value
Common stock, $0.10 par value; 100,000,000 shares authorized, 67,327,997 and 67,167,994 shares issued, 59,711,298 and 59,595,742 shares outstanding, respectively 6,733 6,717
Additional paid-in capital 72,417 72,358
Less treasury stock, 7,616,699 and 7,572,251 shares, respectively, at cost (37,932) (37,827)
Retained earnings 75,080 68,579
Total shareholders' equity 116,298 109,827
Total liabilities and shareholders' equity $ 201,500 $ 166,312