Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 40,490 $ 19,669
Restricted cash 1,029 842
Receivables:    
Trade 9,607 3,556
Accounts with joint venture owners, net of allowance of $0.5 million at June 30, 2018 and December 31, 2017   3,395
Other 122 100
Crude oil inventory 1,298 3,263
Prepayments and other 3,721 2,791
Current assets - discontinued operations 3,172 2,836
Total current assets 59,439 36,452
Property and equipment - successful efforts method:    
Wells, platforms and other production facilities 390,404 389,935
Undeveloped acreage 10,000 10,000
Equipment and other 8,531 9,432
Property, plant and equipment, gross, Total 408,935 409,367
Accumulated depreciation, depletion, amortization and impairment (387,808) (386,146)
Net property and equipment 21,127 23,221
Other noncurrent assets:    
Restricted cash 918 967
Value added tax and other receivables, net of allowance of $6.4 million and $6.5 million at June 30, 2018 and December 31, 2017, respectively 6,724 6,925
Deferred tax asset 1,260 1,260
Abandonment funding 10,808 10,808
Total assets 100,276 79,633
Current liabilities:    
Accounts payable 10,876 11,584
Accounts with joint venture owners 9,807  
Accrued liabilities and other 16,893 12,991
Foreign taxes payable 5,431  
Current portion of long term debt   6,666
Current liabilities - discontinued operations 15,186 15,347
Total current liabilities 58,193 46,588
Asset retirement obligations 20,708 20,163
Other long-term liabilities 892 284
Long term debt, excluding current portion, net   2,309
Total liabilities 79,793 69,344
Commitments and contingencies (Note 10)
Shareholders’ equity:    
Preferred stock, none issued, 500,000 shares authorized, $25 par value
Common stock, $0.10 par value; 100,000,000 shares authorized, 66,966,301 and 66,443,971 shares issued, 59,420,471 and 58,862,876 shares outstanding 6,696 6,644
Additional paid-in capital 72,013 71,251
Less treasury stock, 7,545,830 and 7,581,095 shares at cost (37,776) (37,953)
Accumulated deficit (20,450) (29,653)
Total shareholders' equity 20,483 10,289
Total liabilities and shareholders' equity $ 100,276 $ 79,633