Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 1,742 $ 3,012
Accounts receivable 23,237 20,586
Fair market value of derivatives   60
Deferred tax asset, current 6,320 3,843
Other current assets 1,356 2,063
Total current assets 32,655 29,564
Oil and natural gas properties, full-cost accounting method:    
Evaluated properties 1,783,598 1,701,577
Less accumulated depreciation, depletion and amortization (1,432,213) (1,420,612)
Net oil and natural gas properties 351,385 280,965
Unevaluated properties excluded from amortization 36,772 43,222
Total oil and natural gas properties 388,157 324,187
Other property and equipment, net 7,413 7,255
Restricted investments 3,806 3,806
Deferred tax asset 54,047 57,765
Other assets, net 3,168 1,376
Total assets 489,246 423,953
Current liabilities:    
Accounts payable and accrued liabilities 71,293 57,637
Asset retirement obligations 4,483 4,120
Fair market value of derivatives 2,645 1,036
Total current liabilities 78,421 62,793
13% Senior Notes:    
Principal outstanding 116,481 70,481
Total 13% Senior Notes 53,315 53,748
Senior secured revolving credit facility 68,000 22,000
Asset retirement obligations 2,767 2,612
Other long-term liabilities 6,163 3,706
Total liabilities 208,666 144,859
Stockholders' equity:    
Preferred stock, series A cumulative, $0.01 par value and $50.00 liquidation preference, 2,500,000 shares authorized: 1,578,948 and 1,578,948 shares outstanding, respectively 16 16
Common stock, $0.01 par value, 110,000,000 and 60,000,000 shares authorized; 40,365,710 and 40,345,456 shares outstanding, respectively 405 404
Capital in excess of par value 403,136 401,540
Retained deficit (122,977) (122,866)
Total stockholders' equity 280,580 279,094
Total liabilities and stockholders' equity 489,246 423,953
13% Senior Notes due 2016 [Member]
    
13% Senior Notes:    
Principal outstanding 48,481 48,481
Deferred credit, net of accumulated amortization of $26,673 and $26,239, respectively $ 4,834 $ 5,267