ADDITIONAL FINANCIAL STATEMENT INFORMATION

6 Months Ended

Jun. 30, 2023

ADDITIONAL FINANCIAL STATEMENT INFORMATION

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”.