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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 38,560 $ 58
Accrued production receivable 125,788 146,334
Trade and other receivables, net 26,970 45,193
Derivative assets 93,080 0
Other current assets 11,896 10,670
Total current assets 296,294 202,255
Oil and natural gas properties (using full cost accounting)    
Proved properties 11,072,209 10,775,792
Unevaluated properties 996,700 951,397
CO2 properties 1,196,795 1,191,058
Pipelines and plants 2,302,817 2,286,047
Other property and equipment 250,279 339,218
Less accumulated depletion, depreciation, amortization and impairment (11,500,190) (11,376,646)
Net property and equipment 4,318,610 4,166,866
Derivative assets 4,195 0
Other assets 104,123 102,178
Total assets 4,723,222 4,471,299
Current liabilities    
Accounts payable and accrued liabilities 198,380 177,220
Oil and gas production payable 61,288 76,588
Derivative liabilities 0 99,061
Current maturities of long-term debt (including future interest payable of $85,303 and $75,347, respectively – see Note 6) 105,125 [1] 105,188
Total current liabilities 364,793 458,057
Long-term liabilities    
Long-term debt, net of current portion (including future interest payable of $164,914 and $241,472, respectively – see Note 6) 2,664,211 2,979,086
Asset retirement obligations 174,470 165,756
Deferred tax liabilities, net 309,758 198,099
Other liabilities 68,213 22,136
Total long-term liabilities 3,216,652 3,365,077
Commitments and contingencies (Note 12)
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; 462,355,725 and 402,549,346 shares issued, respectively 462 403
Paid-in capital in excess of par 2,685,211 2,507,828
Accumulated deficit (1,533,112) (1,855,810)
Treasury stock, at cost, 1,941,749 and 457,041 shares, respectively (10,784) (4,256)
Total stockholders' equity 1,141,777 648,165
Total liabilities and stockholders' equity $ 4,723,222 $ 4,471,299
[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 to a small extent our previously outstanding 3½% Convertible Senior Notes due 2024 (the “2024 Convertible Senior Notes”) and 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, 2018 include $85.3 million of future interest payable related to the 2021 Senior Secured Notes and 2022 Senior Secured Notes that is due within the next twelve months. See January 2018 Senior Subordinated Note Exchanges and 2017 Senior Subordinated Note Exchanges below for further discussion.