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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 58 $ 1,606
Accrued production receivable 146,334 124,936
Trade and other receivables, net 45,193 43,900
Other current assets 10,670 10,684
Total current assets 202,255 181,126
Oil and natural gas properties (using full cost accounting)    
Proved properties 10,775,792 10,419,827
Unevaluated properties 951,397 927,819
CO2 properties 1,191,058 1,188,467
Pipelines and plants 2,286,047 2,285,812
Other property and equipment 339,218 378,776
Less accumulated depletion, depreciation, amortization and impairment (11,376,646) (11,212,327)
Net property and equipment 4,166,866 3,988,374
Other assets 102,178 105,078
Total assets 4,471,299 4,274,578
Current liabilities    
Accounts payable and accrued liabilities 177,220 200,266
Oil and gas production payable 76,588 80,585
Derivative liabilities 99,061 69,279
Current maturities of long-term debt (including future interest payable of $75,347 and $50,349, respectively – see Note 5) 105,188 [1] 83,366
Total current liabilities 458,057 433,496
Long-term liabilities    
Long-term debt, net of current portion (including future interest payable of $241,472 and $178,476, respectively – see Note 5) 2,979,086 2,909,732
Asset retirement obligations 165,756 146,807
Deferred tax liabilities, net 198,099 293,878
Other liabilities 22,136 22,217
Total long-term liabilities 3,365,077 3,372,634
Commitments and contingencies (Note 11)
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; 402,549,346 and 402,334,655 shares issued, respectively 403 402
Paid-in capital in excess of par 2,507,828 2,534,670
Accumulated deficit (1,855,810) (2,018,989)
Treasury stock, at cost, 457,041 and 3,906,877 shares, respectively (4,256) (47,635)
Total stockholders' equity 648,165 468,448
Total liabilities and stockholders' equity $ 4,471,299 $ 4,274,578
[1] Future interest payable represents most of the interest due over the term of our 9% Senior Secured Second Lien Notes due 2021 (the “2021 Senior Secured Notes”), 9¼% Senior Secured Second Lien Notes due 2022 (the “2022 Senior Secured Notes”) and 3½% Convertible Senior Notes due 2024 (the “2024 Convertible Senior Notes”), 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, 2017 include $75.3 million of future interest payable related to these notes that is due within the next twelve months. See December 2017 and January 2018 Note Exchanges below for further discussion.