Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 33,715 $ 19,669
Restricted cash 1,025 842
Receivables:    
Trade   3,556
Accounts with joint venture owners, net of allowance of $0.5 million at September 30, 2018 and December 31, 2017 931 3,395
Other 408 100
Crude oil inventory 2,232 3,263
Prepayments and other 3,058 2,791
Current assets - discontinued operations 3,222 2,836
Total current assets 44,591 36,452
Oil and natural gas properties, at cost - successful efforts method:    
Proved properties 398,072 389,935
Undeveloped acreage 16,698 10,000
Equipment and other 8,821 9,432
Net oil and natural gas properties, equipment and other, gross 423,591 409,367
Accumulated depreciation, depletion, amortization and impairment (388,660) (386,146)
Net oil and natural gas properties, equipment and other 34,931 23,221
Other noncurrent assets:    
Restricted cash 918 967
Value added tax and other receivables, net of allowance of $2.1 million and $6.5 million at September 30, 2018 and December 31, 2017, respectively 2,306 6,925
Deferred tax assets 68,807 1,260
Abandonment funding 10,808 10,808
Total assets 162,361 79,633
Current liabilities:    
Accounts payable 7,219 11,584
Accounts with joint venture owners 5,496  
Accrued liabilities and other 17,662 12,991
Foreign taxes payable 1,775  
Current portion of long term debt   6,666
Current liabilities - discontinued operations 15,191 15,347
Total current liabilities 47,343 46,588
Asset retirement obligations 14,459 20,163
Other long-term liabilities 1,264 284
Long term debt, excluding current portion, net   2,309
Total liabilities 63,066 69,344
Commitments and contingencies (Note 9)
Shareholders’ equity:    
Preferred stock, none issued, 500,000 shares authorized, $25 par value
Common stock, $0.10 par value; 100,000,000 shares authorized, 67,092,825 and 66,443,971 shares issued, 59,538,878 and 58,862,876 shares outstanding 6,709 6,644
Additional paid-in capital 72,229 71,251
Less treasury stock, 7,553,947 and 7,581,095 shares at cost (37,798) (37,953)
Retained earnings (deficit) 58,155 (29,653)
Total shareholders' equity 99,295 10,289
Total liabilities and shareholders' equity $ 162,361 $ 79,633