v3.19.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 48,557 $ 33,360
Restricted cash 799 804
Receivables:    
Trade 13,828 11,907
Accounts with joint venture owners, net of allowance of $0.5 million for both periods presented 130 949
Other 1,239 1,398
Crude oil inventory 553 785
Prepayments and other 4,808 6,301
Current assets - discontinued operations   3,290
Total current assets 69,914 58,794
Oil and natural gas properties and equipment - successful efforts method:    
Wells, platforms and other production facilities 409,862 409,487
Work-in-progress 1,002 519
Undeveloped acreage 23,771 23,771
Equipment and other 10,903 9,552
Gross oil and natural gas properties, equipment - successful efforts method 445,538 443,329
Accumulated depreciation, depletion, amortization and impairment (393,669) (390,605)
Net oil and natural gas properties, equipment and other 51,869 52,724
Other noncurrent assets:    
Restricted cash 922 920
Value added tax and other receivables, net of allowance of $1.3 million and $2.0 million, respectively 2,742 2,226
Right of use operating lease assets 34,124  
Deferred tax assets 30,946 40,077
Abandonment funding 11,550 11,571
Total assets 202,067 166,312
Current liabilities:    
Accounts payable 8,016 8,083
Accounts with joint venture owners 3,781 304
Accrued liabilities and other 19,539 14,138
Operating lease liabilities - current portion 10,500  
Foreign taxes payable 453 3,274
Current liabilities - discontinued operations 4,847 15,245
Total current liabilities 47,136 41,044
Asset retirement obligations 15,214 14,816
Operating lease liabilities - net of current portion 23,624  
Other long term liabilities 421 625
Total liabilities 86,395 56,485
Commitments and contingencies (Note 10)
Shareholders’ equity:    
Preferred stock, $25 par value; 500,000 shares authorized, none issued
Common stock, $0.10 par value; 100,000,000 shares authorized, 67,452,385 and 67,167,994 shares issued, 59,756,235 and 59,595,742 shares outstanding, respectively 6,745 6,717
Additional paid-in capital 73,059 72,358
Less treasury stock, 7,696,150 and 7,572,251 shares, respectively, at cost (37,870) (37,827)
Retained earnings 73,738 68,579
Total shareholders' equity 115,672 109,827
Total liabilities and shareholders' equity $ 202,067 $ 166,312

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