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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 3,040 $ 8,119
Accounts receivable 58,464 78,214
Commodity derivative assets 96,278 14,790
Prepaid expenses and other current assets 1,995 1,168
TOTAL CURRENT ASSETS 159,777 102,291
PROPERTY AND EQUIPMENT    
Oil and natural gas properties, at cost, using the successful efforts method of accounting, includes unproved properties of $1,073,475 and $1,073,447 at March 31, 2020 and December 31, 2019, respectively 3,291,755 3,302,340
Accumulated depreciation, depletion, amortization, and impairment (1,938,773) (1,870,412)
Oil and natural gas properties, net 1,352,982 1,431,928
Other property and equipment, net of accumulated depreciation of $11,792 and $11,622 at March 31, 2020 and December 31, 2019, respectively 2,132 2,300
NET PROPERTY AND EQUIPMENT 1,355,114 1,434,228
DEFERRED CHARGES AND OTHER LONG-TERM ASSETS 7,676 8,689
TOTAL ASSETS 1,522,567 1,545,208
CURRENT LIABILITIES    
Accounts payable 563 5,309
Accrued liabilities 8,823 22,702
Commodity derivative liabilities 0 159
Other current liabilities 1,412 1,633
TOTAL CURRENT LIABILITIES 10,798 29,803
LONG–TERM LIABILITIES    
Credit facility 388,000 394,000
Accrued incentive compensation 543 2,110
Commodity derivative liabilities 0 18
Asset retirement obligations 16,225 15,653
Other long-term liabilities 4,914 6,820
TOTAL LIABILITIES 420,480 448,404
COMMITMENTS AND CONTINGENCIES (Note 7)
EQUITY    
Partners' equity – general partner interest 0 0
TOTAL EQUITY 803,726 798,443
TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY 1,522,567 1,545,208
Series B Cumulative Convertible Preferred Units    
MEZZANINE EQUITY    
Partners' equity – convertible preferred units 298,361 298,361
Common Units    
EQUITY    
Partners' equity - units $ 803,726 $ 798,443