Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 48,675 $ 47,853
Restricted cash 79 86
Receivables:    
Trade, net 22,464  
Accounts with joint venture owners, net of allowance of $0.0 million in both periods presented 345 3,587
Other, net 9,977 4,331
Crude oil inventory 1,593 3,906
Prepayments and other 5,156 4,215
Total current assets 88,289 63,978
Crude oil and natural gas properties, equipment and other - successful efforts method, net 94,324 37,036
Other noncurrent assets:    
Restricted cash 1,752 925
Value added tax and other receivables, net of allowance of $5.7 million and $2.3 million, respectively 5,536 4,271
Right of use operating lease assets 10,227 22,569
Deferred tax assets 39,978  
Abandonment funding 21,808 12,453
Other long-term assets 1,176  
Total assets 263,090 141,232
Current liabilities:    
Accounts payable 18,797 16,690
Accounts with joint venture owners 3,233 4,945
Accrued liabilities and other 49,444 17,184
Operating lease liabilities - current portion 9,642 12,890
Foreign income taxes payable 3,128 860
Current liabilities - discontinued operations 13 7
Total current liabilities 84,257 52,576
Asset retirement obligations 33,949 17,334
Operating lease liabilities - net of current portion 587 9,671
Other long-term liabilities   193
Total liabilities 118,793 79,774
Commitments and contingencies (Note 12)
Shareholders’ equity:    
Preferred stock, $25 par value; 500,000 shares authorized, none issued
Common stock, $0.10 par value; 100,000,000 shares authorized, 69,562,774 and 67,897,530 shares issued, 58,623,451 and 57,531,154 shares outstanding, respectively 6,956 6,790
Additional paid-in capital 76,700 74,437
Less treasury stock, 10,939,323 and 10,366,376 shares, respectively, at cost (43,847) (42,421)
Retained earnings 104,488 22,652
Total shareholders' equity 144,297 61,458
Total liabilities and shareholders' equity $ 263,090 $ 141,232