XML 13 R2.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 27,068  
Restricted cash 1,686  
Revenue receivable 3,856  
Joint interest billing receivable 4,292  
Deposit for surety bonds 75  
Other current assets 2,047  
Total current assets 39,024  
Oil and gas properties:    
Oil and gas properties, full cost method 57,360  
Unevaluated oil and gas properties 120,601  
Accumulated depreciation, depletion and amortization (2,276)  
Oil and gas properties, net 175,685  
Other property and equipment 248  
Accumulated depreciation of other property and equipment (6)  
Total property and equipment 175,927  
Other assets 371  
Right of use asset 2,001  
Total assets 217,323  
Current liabilities:    
Accounts payable to vendors 14,667  
Advances from co-owners 3,747  
Oil and gas revenue payable 5,492  
Accrued interest 319  
Asset retirement obligation 723  
Other accrued liabilities 1,152  
Right of use liability-short-term 894  
Total current liabilities 26,994  
Multi-draw Term Loan 45,434  
10% Senior Secured PIK Notes due 2024 66,340  
Asset retirement obligation 2,521  
Deferred income taxes 241 $ 0
Right of use liability-long-term 990  
Total liabilities not subject to compromise 142,520  
Liabilities subject to compromise 0  
Total liabilities 142,520  
Stockholders’ equity:    
Common stock 94  
Paid-in capital 73,972  
(Accumulated deficit) retained earnings 737  
Total stockholders’ equity 74,803  
Total liabilities and stockholders’ equity $ 217,323  
Predecessor    
Current assets:    
Cash and cash equivalents   34,502
Restricted cash   389
Revenue receivable   6,364
Joint interest billing receivable   4,716
Deposit for surety bonds   3,550
Other current assets   3,261
Total current assets   52,782
Oil and gas properties:    
Oil and gas properties, full cost method   1,361,374
Unevaluated oil and gas properties   23,492
Accumulated depreciation, depletion and amortization   (1,301,592)
Oil and gas properties, net   83,274
Other property and equipment   9,282
Accumulated depreciation of other property and equipment   (9,056)
Total property and equipment   83,500
Other assets   1,005
Right of use asset   0
Total assets   137,287
Current liabilities:    
Accounts payable to vendors   11,699
Advances from co-owners   2,020
Oil and gas revenue payable   7,765
Accrued interest   639
Asset retirement obligation   183
Other accrued liabilities   1,259
Right of use liability-short-term   0
Total current liabilities   23,565
Multi-draw Term Loan   49,738
10% Senior Secured PIK Notes due 2024   0
Asset retirement obligation   2,297
Right of use liability-long-term   0
Total liabilities not subject to compromise   75,600
Liabilities subject to compromise   323,854
Total liabilities   399,454
Stockholders’ equity:    
Preferred stock, $.001 par value; authorized 5,000 shares; issued and outstanding 1,495 shares   1
Common stock   26
Paid-in capital   314,268
(Accumulated deficit) retained earnings   (576,462)
Total stockholders’ equity   (262,167)
Total liabilities and stockholders’ equity   $ 137,287