Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 121,001 $ 37,205
Restricted cash 114 222
Receivables:    
Trade, net of allowances for credit loss and other of $0.5 and $0.0 million, respectively 44,888 52,147
Accounts with joint venture owners, net of allowance for credit losses of $0.8 and $0.3 million, respectively 1,814 15,830
Foreign income taxes receivable 0 2,769
Egypt receivables and other, net of allowances for credit loss and other of $4.6 and $0.0 million, respectively 45,942 68,519
Crude oil inventory 1,948 3,335
Prepayments and other 12,434 20,070
Total current assets 228,141 200,097
Crude oil, natural gas and NGLs properties and equipment, net 459,786 495,272
Other noncurrent assets:    
Restricted cash 1,795 1,763
Value added tax and other receivables, net of allowances for credit loss and other of $0.0 million and $8.4 million, respectively 4,214 7,150
Right of use operating lease assets 2,378 2,777
Right of use finance lease assets 89,962 90,698
Deferred tax assets 29,242 35,432
Abandonment funding 6,268 20,586
Other long-term assets 1,430 1,866
Total assets 823,216 855,641
Current liabilities:    
Accrued liabilities and other 66,924 91,392
Operating lease liabilities - current portion 2,396 2,314
Finance lease liabilities - current portion 10,079 7,811
Foreign income taxes payable 19,261 0
Current liabilities - discontinued operations 673 687
Total current liabilities 127,475 162,090
Asset retirement obligations 47,343 41,695
Operating lease liabilities - net of current portion 33 686
Finance lease liabilities - net of current portion 78,293 78,248
Deferred tax liabilities 73,581 81,223
Other long-term liabilities 17,709 25,594
Total liabilities 344,434 389,536
Commitments and contingencies (Note 12)
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, 121,397,553 and 119,482,680 shares issued, 104,346,233 and 107,852,857 shares outstanding, respectively 12,140 11,948
Additional paid-in capital 357,498 353,606
Accumulated other comprehensive income 2,880 1,179
Less treasury stock, 17,051,320 and 11,629,823 shares, respectively, at cost (71,222) (47,652)
Retained earnings 177,486 147,024
Total shareholders' equity 478,782 466,105
Total liabilities and shareholders' equity 823,216 855,641
Nonrelated Party [Member]    
Current liabilities:    
Accounts payable 22,152 59,886
Related Party [Member]    
Current liabilities:    
Accounts payable $ 5,990 $ 0