Supplemental Disclosures

12 Months Ended

Dec. 31, 2012

Supplemental Disclosures [Abstract]

SUPPLEMENTAL DISCLOSURES

NOTE 15 — SUPPLEMENTAL DISCLOSURES

Accrued Liabilities

The following table summarizes the Company’s current accrued liabilities at December 31, 2012 and 2011 (in thousands).

	December 31,
	2012		2011
Accrued evaluated and unproved and unevaluated property costs	$	45,592	$	18,185
Accrued support equipment and facilities costs		1,382		216
Accrued cost to issue equity		–		332
Accrued stock-based compensation		65		2,860
Accrued lease operating expenses		5,218		575
Accrued interest on borrowings under Credit Agreement		255		34
Accrued asset retirement obligations		660		334
Accrued partners’ share of joint interest charges		3,597		51
Other		2,410		2,852
Total accrued liabilities	$	59,179	$	25,439

Supplemental Cash Flow Information

The following table provides supplemental disclosures of cash flow information for the years ended December 31, 2012, 2011 and 2010 (in thousands).

	Year ended December 31,
	2012			2011			2010
Cash paid (refunded) for income taxes	$	–		$	–		$	(2,156	)
Cash paid for interest expense, net of amounts capitalized		780			634			–
Asset retirement obligations related to mineral properties		1,195			488			862
Asset retirement obligations related to support equipment and facilities		49			12			126
Increase in liabilities for oil and natural gas properties capital expenditures		24,847			1,864			15,531
Increase in liabilities for support equipment and facilities		1,112			175			40
Issuance of treasury stock for Board and advisor services		–			–			47
Issuance of restricted stock units for Board and advisor services		73			–			–
Issuance of common stock for Board and advisor services		71			230			198
(Decrease) increase in liabilities for accrued cost to issue equity		(332	)		(27	)		359
Stock based compensation expense recognized as liability		(1,092	)		2,102			164
Transfer of inventory to oil and natural gas properties		69			96			353