Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 20,640 $ 20,474
Restricted cash 802 741
Receivables:    
Trade 8,062 6,751
Accounts with partners, net of allowance of $0.5 million at June 30, 2017 and December 31, 2016 978 3,297
Other 1 120
Crude oil inventory 952 913
Prepayments and other 4,392 4,040
Current assets - discontinued operations 2,578 2,139
Total current assets 38,405 38,475
Property and equipment - successful efforts method:    
Wells, platforms and other production facilities 389,192 389,231
Undeveloped acreage 10,000 10,000
Equipment and other 10,283 9,779
Property, plant and equipment, gross, Total 409,475 409,010
Accumulated depreciation, depletion, amortization and impairment (384,209) (380,991)
Net property and equipment 25,266 28,019
Other noncurrent assets:    
Restricted cash 918 918
Value added tax and other receivables, net of allowance of $5.4 million and $4.7 million at June 30, 2017 and December 31, 2016, respectively 6,044 5,110
Abandonment funding 8,510 8,510
Total assets 79,143 81,032
Current liabilities:    
Accounts payable 14,968 19,096
Accrued liabilities and other 9,568 10,506
Current portion of long term debt 8,333 7,500
Accounts with partners 291  
Current liabilities - discontinued operations 15,186 18,452
Total current liabilities 48,346 55,554
Asset retirement obligations 18,947 18,612
Other long term liabilities 283 284
Long term debt, excluding current portion 4,642 6,940
Total liabilities 72,218 81,390
Commitments and contingencies (Note 6)
Shareholders’ equity (deficit):    
Preferred stock, none issued, 500,000 shares authorized, $25 par value
Common stock, 66,348,910 and 66,109,565 shares issued $0.01 par value, 100,000,000 shares authorized 6,635 6,611
Additional paid-in capital 70,985 70,268
Less treasury stock, 7,555,095 shares at cost (37,933) (37,933)
Accumulated deficit (32,762) (39,304)
Total shareholders' equity (deficit) 6,925 (358)
Total liabilities and shareholders' equity (deficit) $ 79,143 $ 81,032