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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 45,878 $ 50,483
Restricted cash 15,221 20,570
Accounts receivable, net:    
Oil and natural gas 127,193 128,352
Joint interest 49,913 70,759
Other 6,011 18,022
Derivative financial instruments 2,330 8,226
Inventory and other 12,047 9,442
Total current assets 258,593 305,854
Equity investments 56,514 57,562
Oil and natural gas properties (full cost accounting method):    
Unproved oil and natural gas properties and development costs not being amortized 369,000 425,307
Proved developed and undeveloped oil and natural gas properties 3,736,988 3,554,210
Accumulated depletion (2,316,974) (2,183,464)
Oil and natural gas properties, net 1,789,014 1,796,053
Gathering assets 36,699 33,473
Accumulated depreciation and amortization (11,184) (10,338)
Gathering assets, net 25,515 23,135
Office, field and other equipment, net 25,873 27,204
Deferred financing costs, net 35,011 28,807
Derivative financial instruments 2,773 6,829
Goodwill 163,155 163,155
Other assets 30 29
Total assets 2,356,478 2,408,628
Current liabilities:    
Accounts payable and accrued liabilities 106,787 109,217
Revenues and royalties payable 184,025 154,862
Drilling advances 51,589 22,971
Accrued interest payable 26,284 18,144
Current portion of asset retirement obligations 191 191
Income taxes payable 0 0
Derivative financial instruments 29,451 11,919
Current maturities of long-term debt 0 31,866
Total current liabilities 398,327 349,170
Long-term debt 1,511,647 1,858,912
Deferred income taxes 0 0
Derivative financial instruments 5,454 9,671
Asset retirement obligations and other long-term liabilities 44,468 42,970
Commitments and contingencies 0 0
Shareholders’ equity:    
Common stock, $0.001 par value; 350,000,000 authorized shares; 273,277,566 shares issued and 272,738,345 shares outstanding at June 30, 2014; 218,783,540 shares issued and 218,244,319 shares outstanding at December 31, 2013 270 215
Subscription rights, $0.001 par value; none issued and outstanding at June 30, 2014; 54,574,734 issued and outstanding at December 31, 2013 0 55
Additional paid-in capital 3,497,849 3,219,748
Accumulated deficit (3,094,058) (3,064,634)
Treasury stock, at cost; 539,221 shares at June 30, 2014 and December 31, 2013 (7,479) (7,479)
Total shareholders' equity 396,582 147,905
Total liabilities and shareholders' equity $ 2,356,478 $ 2,408,628