Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 26,883 $ 25,357
Restricted cash 788 1,048
Receivables:    
Trade 5,940 5,353
Accounts with partners 1,639 19,765
Other 36 42
Crude oil inventory 770 639
Materials and supplies 145 194
Prepayments and other 3,602 2,975
Current assets - discontinued operations 1,747 8,369
Total current assets 41,550 63,742
Property and equipment - successful efforts method:    
Wells, platforms and other production facilities 410,301 412,593
Undeveloped acreage 10,000 10,000
Equipment and other 10,357 10,805
Property, plant and equipment, gross, Total 430,658 433,398
Accumulated depreciation, depletion, amortization and impairment (405,080) (400,041)
Net property and equipment 25,578 33,357
Other noncurrent assets:    
Restricted cash 830 15,830
Value added tax and other receivable, net of allowance of $4.9 million and $4.2 million at September 30, 2016 and December 31, 2015 5,107 4,221
Deferred finance charge   1,655
Abandonment funding 5,137 5,137
Noncurrent assets - discontinued operations   16
Total assets 78,202 123,958
Current liabilities:    
Accounts payable 11,553 44,140
Accrued liabilities and other 13,551 18,447
Current portion of long term debt 6,250  
Current liabilities - discontinued operations 18,656 4,129
Total current liabilities 50,010 66,716
Asset retirement obligations 16,849 16,166
Long term debt, excluding current portion 8,134 15,000
Total liabilities 74,993 97,882
Commitments and contingencies (Note 7)
Shareholders’ equity:    
Preferred stock, none issued, 500,000 shares authorized, $25 par value
Common stock, 66,189,032 and 66,041,338 shares issued, $0.10 par value, 100,000,000 shares authorized 6,619 6,604
Additional paid-in capital 70,210 69,118
Less treasury stock, 7,555,095 and7,514,169 shares at cost (37,933) (37,882)
Accumulated deficit (35,687) (11,764)
Total shareholders' equity 3,209 26,076
Total liabilities and shareholders' equity $ 78,202 $ 123,958