ADDITIONAL FINANCIAL STATEMENT INFORMATION |
13. ADDITIONAL FINANCIAL STATEMENT INFORMATION Certain balance sheet amounts are comprised of the following (in thousands): | | | | | | | | | June 30, 2023 | | December 31, 2022 | Accounts receivable, net: | | | | | | | Oil, natural gas and natural gas liquids revenues | | $ | 19,853 | | $ | 33,980 | Joint interest accounts | | | 1,779 | | | 3,201 | Other | | | 1,886 | | | 793 | | | $ | 23,518 | | $ | 37,974 | Prepaids and other: | | | | | | | Prepaids | | $ | 509 | | $ | 715 | Funds in escrow | | | 343 | | | 341 | Other | | | 197 | | | 75 | | | $ | 1,049 | | $ | 1,131 | Other assets (Non-current): | | | | | | | Investment in unconsolidated affiliate(1) | | $ | 1,477 | | $ | 1,561 | Oil, natural gas and natural gas liquids revenues | | | 24 | | | — | Funds in escrow | | | 538 | | | 527 | Other | | | 739 | | | 739 | | | $ | 2,778 | | $ | 2,827 | Accounts payable and accrued liabilities: | | | | | | | Trade payables | | $ | 17,884 | | $ | 42,919 | Accrued oil and natural gas capital costs | | | 1,928 | | | 19,911 | Revenues and royalties payable | | | 20,392 | | | 26,759 | Accrued interest expense | | | 104 | | | 160 | Accrued employee compensation | | | 1,190 | | | 2,300 | Accrued lease operating expenses | | | 7,388 | | | 8,005 | Other | | | 11 | | | 41 | | | $ | 48,897 | | $ | 100,095 |
| (1) | In May 2022, we entered into a joint venture with Caracara Services, LLC (“Caracara”) to develop an acid gas treatment facility to remove hydrogen sulfide and carbon dioxide from our produced natural gas. Caracara will provide all necessary capital for the construction of the treatment facility. We contributed certain full cost pool assets to the related party joint venture in a non-cash exchange for a retained 5% equity interest in BAT, an unconsolidated subsidiary. For accounting purposes, since we do not control the key activities (e.g. operating and maintaining the facility) which most significantly impact economic performance nor do we have the obligation to absorb losses or the right to receive benefits that could potentially be significant, we are not the primary beneficiary of BAT. Accordingly, we account for our investment in BAT (a related party) using the equity method of accounting based on our ability to exercise significant influence, but not control, over the key activities of the joint venture. For more information related to this joint venture, see Note 9, “Commitments and Contingencies”. |
|