Summary of Signigicant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

The following is a detailed breakout of our “Property and Equipment” balances (in thousands):




	December 31, 2018			December 31, 2017
Property and Equipment
Proved oil and gas properties	$	925,865		$	658,519
Unproved oil and gas properties	56,715			50,377
Furniture, fixtures, and other equipment	3,520			3,270
Less – Accumulated depreciation, depletion, amortization & impairment	(284,804		)	(216,769		)
Property and Equipment, Net	$	701,296		$	495,397

Accounts Payable and Accrued Liabilities

Accounts Payable and Accrued Liabilities. The “Accounts payable and accrued liabilities” balances on the accompanying consolidated balance sheets are summarized below (in thousands):



	December 31, 2018		December 31, 2017
Trade accounts payable	$	32,683	$	20,884
Accrued operating expenses	3,549		3,490
Accrued compensation costs	4,785		5,334
Asset retirement obligations – current portion	302		2,109
Accrued non-income based taxes	3,583		3,898
Accrued corporate and legal fees	534		2,784
Other payables	3,485		5,938
Total Accounts payable and accrued liabilities	$	48,921	$	44,437

Cash, Cash Equivalents and Restricted Cash

The following table is a reconciliation of the total cash and cash equivalents and restricted cash in the accompanying consolidated statement of cash flows and their corresponding balance sheet presentation (in thousands):



	December 31, 2018		December 31, 2017
Cash and cash equivalents	$	2,465	$	7,806
Long-term restricted cash (1)	—		220
Total cash, cash equivalents and restricted cash	$	2,465	$	8,026

(1) Long-term restricted cash is included in “Other Long-Term Assets” on the accompanying condensed consolidated balance sheets.

Oil and Gas receipts greater than 10%

For the years ended December 31, 2018 and 2017, parties that accounted for 10% or more of our total oil and gas receipts were as follows:



Customers greater than 10%	Year Ended December 31, 2018		Year Ended December 31, 2017
Kinder Morgan	37	%	48	%