Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Dec. 31, 2013
Current Assets:    
Cash and cash equivalent $ 133,498 $ 130,529
Restricted cash 12,301 12,366
Receivables:    
Trade 6,026 16,972
Accounts with partners, net of allowance of $7.6 million at September 30, 2014 and December 31, 2013 2,969 307
Other, net of allowance of $1.8 million at September 30, 2014, and zero allowance at December 31, 2013 5,404 4,435
Crude oil inventory 1,464 352
Materials and supplies 1,665 164
Prepayments and others 5,884 2,339
Total current assets 169,211 167,464
Property and equipment - successful efforts method    
Wells, platforms and other production facilities 218,390 215,701
Undeveloped acreage 22,133 23,705
Work in progress 127,775 64,489
Equipment and other 8,349 6,831
Property, plant and equipment, gross, Total 376,647 310,726
Accumulated depreciation, depletion and amortization (187,037) (172,202)
Net property and equipment 189,610 138,524
Other assets:    
Restricted cash 830 830
Deferred tax assets 1,349 1,349
Deferred finance charge 1,856  
Total Assets 362,856 308,167
Current Liabilities:    
Accounts payable and other liabilities 50,666 42,561
Accounts with partners 5,429 3,268
Total current liabilities 56,095 45,829
Asset retirement obligations 13,659 11,464
Long term debt 15,000  
Total Liabilities 84,754 57,293
Commitments and Contingencies (note 4)      
Owners' Equity    
Common stock, $0.10 par value, 100,000,000 authorized shares, 65,154,195 and 64,012,914 shares issued with 7,393,714 and 7,162,573 shares in treasury at September 30, 2014 and December 31, 2013, respectively 6,515 6,408
Additional paid-in capital 63,656 55,455
Retained earnings 245,230 224,442
Less treasury stock, at cost (37,299) (35,431)
Total Equity 278,102 250,874
Total Liabilities and Owners' Equity $ 362,856 $ 308,167