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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 1,600 $ 8,119
Accounts receivable 45,480 78,214
Commodity derivative assets 45,522 14,790
Assets held for sale 126,491 0
Prepaid expenses and other current assets 2,329 1,168
TOTAL CURRENT ASSETS 221,422 102,291
PROPERTY AND EQUIPMENT    
Oil and natural gas properties, at cost, using the successful efforts method of accounting, includes unproved properties of $946,232 and $1,073,447 at June 30, 2020 and December 31, 2019, respectively 3,156,657 3,302,340
Accumulated depreciation, depletion, amortization, and impairment (1,947,455) (1,870,412)
Oil and natural gas properties, net 1,209,202 1,431,928
Other property and equipment, net of accumulated depreciation of $11,963 and $11,622 at June 30, 2020 and December 31, 2019, respectively 1,969 2,300
NET PROPERTY AND EQUIPMENT 1,211,171 1,434,228
DEFERRED CHARGES AND OTHER LONG-TERM ASSETS 6,245 8,689
TOTAL ASSETS 1,438,838 1,545,208
CURRENT LIABILITIES    
Accounts payable 2,870 5,309
Accrued liabilities 10,337 22,702
Commodity derivative liabilities 311 159
Other current liabilities 1,634 1,633
TOTAL CURRENT LIABILITIES 15,152 29,803
LONG–TERM LIABILITIES    
Credit facility 323,000 394,000
Accrued incentive compensation 580 2,110
Commodity derivative liabilities 4,738 18
Asset retirement obligations 16,717 15,653
Other long-term liabilities 4,609 6,820
TOTAL LIABILITIES 364,796 448,404
COMMITMENTS AND CONTINGENCIES (Note 7)
EQUITY    
Partners' equity – general partner interest 0 0
TOTAL EQUITY 775,681 798,443
TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY 1,438,838 1,545,208
Series B Cumulative Convertible Preferred Units    
MEZZANINE EQUITY    
Partners' equity – convertible preferred units 298,361 298,361
Common Units    
EQUITY    
Partners' equity - units $ 775,681 $ 798,443