v3.19.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 57,227 $ 33,360
Restricted cash 769 804
Receivables:    
Trade 7,503 11,907
Accounts with joint venture owners, net of allowance of $0.5 million for both periods presented 113 949
Other 1,160 1,398
Crude oil inventory 775 785
Prepayments and other 6,996 6,301
Current assets - discontinued operations   3,290
Total current assets 74,543 58,794
Oil and natural gas properties and equipment - successful efforts method:    
Wells, platforms and other production facilities 409,995 409,487
Work-in-progress 5,303 519
Undeveloped acreage 23,771 23,771
Equipment and other 12,523 9,552
Gross oil and natural gas properties, equipment - successful efforts method 451,592 443,329
Accumulated depreciation, depletion, amortization and impairment (394,975) (390,605)
Net oil and natural gas properties, equipment and other 56,617 52,724
Other noncurrent assets:    
Restricted cash 924 920
Value added tax and other receivables, net of allowance of $1.3 million and $2.0 million, respectively 3,035 2,226
Right of use operating lease assets 36,852  
Deferred tax assets 25,903 40,077
Abandonment funding 11,112 11,571
Total assets 208,986 166,312
Current liabilities:    
Accounts payable 6,658 8,083
Accounts with joint venture owners 11,828 304
Accrued liabilities and other 23,886 14,138
Operating lease liabilities - current portion 12,432  
Foreign taxes payable 3,211 3,274
Current liabilities - discontinued operations 326 15,245
Total current liabilities 58,341 41,044
Asset retirement obligations 15,709 14,816
Operating lease liabilities - net of current portion 24,397  
Other long term liabilities 652 625
Total liabilities 99,099 56,485
Commitments and contingencies (Note 11)
Shareholders’ equity:    
Preferred stock, $25 par value; 500,000 shares authorized, none issued
Common stock, $0.10 par value; 100,000,000 shares authorized, 67,478,897 and 67,167,994 shares issued, 58,593,068 and 59,595,742 shares outstanding, respectively 6,748 6,717
Additional paid-in capital 73,263 72,358
Less treasury stock, 8,885,829 and 7,572,251 shares, respectively, at cost (39,943) (37,827)
Retained earnings 69,819 68,579
Total shareholders' equity 109,887 109,827
Total liabilities and shareholders' equity $ 208,986 $ 166,312

Source