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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current assets    
Cash and cash equivalents $ 1,606 $ 2,812
Accrued production receivable 124,936 100,413
Trade and other receivables, net 43,900 87,093
Derivative assets 0 142,846
Other current assets 10,684 10,005
Total current assets 181,126 343,169
Oil and natural gas properties (using full cost accounting)    
Proved properties 10,419,827 10,245,195
Unevaluated properties 927,819 894,948
CO2 properties 1,188,467 1,187,458
Pipelines and plants 2,285,812 2,293,219
Other property and equipment 378,776 408,194
Less accumulated depletion, depreciation, amortization and impairment (11,212,327) (9,653,205)
Net property and equipment 3,988,374 5,375,809
Other assets 105,078 166,555
Total assets 4,274,578 5,885,533
Current liabilities    
Accounts payable and accrued liabilities 200,266 253,197
Oil and gas production payable 80,585 87,337
Derivative liabilities 69,279 0
Current maturities of long-term debt (including future interest payable of $50,349 and $0, respectively – see Note 4) 83,366 [1] 32,481
Total current liabilities 433,496 373,015
Long-term liabilities    
Long-term debt, net of current portion (including future interest payable of $178,476 and $0, respectively – see Note 4) 2,909,732 3,245,114
Asset retirement obligations 146,807 138,919
Deferred tax liabilities, net 293,878 852,089
Other liabilities 22,217 27,484
Total long-term liabilities 3,372,634 4,263,606
Commitments and contingencies (Note 10)
Stockholders' equity    
Preferred stock, $.001 par value, 25,000,000 shares authorized, none issued and outstanding 0 0
Common stock, $.001 par value, 600,000,000 shares authorized; 402,334,655 and 354,541,626 shares issued, respectively 402 355
Paid-in capital in excess of par 2,534,670 2,353,549
Accumulated deficit (2,018,989) (1,058,954)
Treasury stock, at cost, 3,906,877 and 3,124,311 shares, respectively (47,635) (46,038)
Total stockholders' equity 468,448 1,248,912
Total liabilities and stockholders' equity $ 4,274,578 $ 5,885,533
[1] Future interest payable on our 9% Senior Secured Second Lien Notes due 2021 (the “2021 Senior Secured Notes”) represents most of the interest due over the term of this obligation, which has been accounted for as debt in accordance with FASC 470-60, Troubled Debt Restructuring by Debtors. Our current maturities of long-term debt as of December 31, 2016 include $50.3 million of future interest payable related to the 2021 Senior Secured Notes that is due within the next twelve months. See 2016 Senior Subordinated Notes Exchange below for further discussion.