| Preliminary Estimates Of Fair Value Of Identifiable Assets Acquired And Liabilities Assumed |
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November 22, 2016
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(in thousands)
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Assets acquired:
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Wells, platforms and other production facilities
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$
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5,754
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Equipment and other
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|
684
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Value added tax and other receivables
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|
297
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Abandonment funding
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546
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Accounts receivable - trade
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|
888
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Prepayments and other
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|
220
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Liabilities assumed:
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Asset retirement obligations
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(1,731)
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Accrued liabilities and other
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(747)
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Total identifiable net assets and consideration transferred
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$
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5,911
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| Pro Forma Results |
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Year Ended December 31,
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2016
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2015
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(in thousands)
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Pro forma (unaudited)
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|
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Oil and natural gas sales
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$
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65,427
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|
$
|
88,940
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Operating loss
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(4,295)
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|
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(101,494)
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Loss from continuing operations
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(19,232)
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(120,546)
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Basic and diluted net loss per share:
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|
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Loss from continuing operations
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$
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(0.33)
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|
$
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(2.07)
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Net loss
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$
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(0.47)
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|
$
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(2.72)
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| Summarized Results Of, And Assets And Liabilities Attributable To, Discontinued Operations |
Summarized Results of Discontinued Operations
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Year Ended December 31,
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2017
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2016
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|
2015
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(in thousands)
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Operating costs and expenses:
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|
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|
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Exploration expense
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$
|
—
|
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$
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15,137
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$
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36,044
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Depreciation, depletion and amortization
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—
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|
|
9
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|
|
12
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General and administrative expense
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|
615
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|
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1,269
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|
2,535
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Bad debt recovery and other
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—
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(7,629)
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—
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Total operating costs, expenses and (recovery)
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|
615
|
|
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8,786
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|
38,591
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Other operating loss, net
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—
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(172)
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(1,856)
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Operating loss
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(615)
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(8,958)
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(40,447)
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Other income (expense):
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Interest income
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—
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3,201
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—
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Other, net
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(3)
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|
|
552
|
|
|
2,345
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Total other income (expense)
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(3)
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3,753
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|
2,345
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Loss from discontinued operations before income taxes
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(618)
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(5,205)
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(38,102)
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Income tax expense
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|
3
|
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3,078
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|
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—
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Loss from discontinued operations
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$
|
(621)
|
|
$
|
(8,283)
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|
$
|
(38,102)
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Assets and Liabilities Attributable to Discontinued Operations
|
|
|
|
|
|
|
|
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December 31,
|
|
|
|
2017
|
|
2016
|
|
|
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(in thousands)
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|
ASSETS
|
|
|
|
|
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Accounts with partners
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$
|
2,836
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|
$
|
2,139
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Total current assets
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|
|
2,836
|
|
|
2,139
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Total assets
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$
|
2,836
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|
$
|
2,139
|
|
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LIABILITIES
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Current liabilities:
|
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|
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Accounts payable
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$
|
158
|
|
$
|
77
|
|
Foreign taxes payable
|
|
|
—
|
|
|
3,078
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Accrued liabilities and other
|
|
|
15,189
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|
|
15,297
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Total current liabilities
|
|
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15,347
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|
|
18,452
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Total liabilities
|
|
$
|
15,347
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|
$
|
18,452
|
|