Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.10.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 33,360 $ 19,669
Restricted cash 804 842
Receivables:    
Trade 11,907 3,556
Accounts with joint venture owners, net of allowance of $0.5 million for both years presented 949 3,395
Other 1,398 100
Crude oil inventory 785 3,263
Prepayments and other 6,301 2,791
Current assets - discontinued operations 3,290 2,836
Total current assets 58,794 36,452
Oil and natural gas properties and equipment - successful efforts method:    
Wells, platforms and other production facilities 409,487 389,935
Work-in-progress 519  
Undeveloped acreage 23,771 10,000
Equipment and other 9,552 9,432
Gross oil and natural gas properties, equipment and other 443,329 409,367
Accumulated depreciation, depletion, amortization and impairment (390,605) (386,146)
Net oil and natural gas properties, equipment and other 52,724 23,221
Other noncurrent assets:    
Restricted cash 920 967
Value added tax and other receivables, net of allowance of $2.0 million and $6.5 million, respectively 2,226 6,925
Deferred tax assets 40,077 1,260
Abandonment funding 11,571 10,808
Total assets 166,312 79,633
Current liabilities:    
Accounts payable 8,083 11,584
Accounts with joint venture owners 304  
Accrued liabilities and other 14,138 12,991
Foreign taxes payable 3,274  
Current portion of long term debt   6,666
Current liabilities - discontinued operations 15,245 15,347
Total current liabilities 41,044 46,588
Asset retirement obligations 14,816 20,163
Other long-term liabilities 625 284
Long term debt, excluding current portion, net   2,309
Total liabilities 56,485 69,344
Commitments and contingencies (Note 12)
Shareholders’ equity:    
Preferred stock, none issued, 500,000 shares authorized, $25 par value
Common stock, $0.10 par value; 100,000,000 shares authorized, 67,167,994 and 66,443,971 shares issued, 59,595,742 and 58,862,876 shares outstanding, respectively 6,717 6,644
Additional paid-in capital 72,358 71,251
Less treasury stock, 7,572,251 and 7,581,095 shares, respectively, at cost (37,827) (37,953)
Retained earnings (deficit) 68,579 (29,653)
Total shareholders' equity 109,827 10,289
Total liabilities and shareholders' equity $ 166,312 $ 79,633