Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

v3.23.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 46,186 $ 37,205
Restricted cash 113 222
Receivables:    
Trade, net 57,360 52,147
Accounts with joint venture owners, net of allowance for credit losses of $0.5 and $0.3 million, respectively 216 15,830
Foreign income taxes receivable 0 2,769
Other, net of allowance for credit losses of $3.5 and $0.0 million, respectively 66,615 68,519
Crude oil inventory 10,800 3,335
Prepayments and other 18,077 20,070
Total current assets 199,367 200,097
Crude oil and natural gas properties, equipment and other - successful efforts method, net 481,740 495,272
Other noncurrent assets:    
Restricted cash 1,779 1,763
Value added tax and other receivables, net of allowance of $9.5 million and $8.4 million, respectively 8,807 7,150
Right of use operating lease assets 1,639 2,777
Right of use finance lease assets 90,584 90,698
Deferred tax assets 37,155 35,432
Abandonment funding 6,268 20,586
Other long-term assets 1,674 1,866
Total assets 829,013 [1] 855,641 [2]
Current liabilities:    
Accrued liabilities and other 84,104 91,392
Operating lease liabilities - current portion 1,667 2,314
Finance lease liabilities - current portion 7,684 7,811
Foreign income taxes payable 12,575 0
Current liabilities - discontinued operations 673 687
Total current liabilities 153,703 162,090
Asset retirement obligations 42,958 41,695
Operating lease liabilities - net of current portion 130 686
Finance lease liabilities - net of current portion 79,856 78,248
Deferred tax liabilities 82,895 81,223
Other long-term liabilities 17,465 25,594
Total liabilities 377,007 389,536
Commitments and contingencies (Note 10)
Shareholders’ equity:    
Preferred stock, $25 par value; 500,000 shares authorized, none issued 0 0
Common stock, $0.10 par value; 160,000,000 shares authorized, 121,205,919 and 119,482,680 shares issued, 106,997,933 and 107,852,857 shares outstanding, respectively 12,121 11,948
Additional paid-in capital 355,206 353,606
Accumulated other comprehensive income 3,060 1,179
Less treasury stock, 14,207,986 and 11,629,823 shares, respectively, at cost (59,055) (47,652)
Retained earnings 140,674 147,024
Total shareholders' equity 452,006 466,105
Total liabilities and shareholders' equity 829,013 855,641
Nonrelated Party [Member]    
Current liabilities:    
Accounts payable 40,716 59,886
Related Party [Member]    
Current liabilities:    
Accounts payable $ 6,284 $ 0
[1] Includes assets acquired in the TransGlobe acquisition
[2] Includes assets acquired in the Sasol acquisition