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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 6,653 $ 8,876
Accounts receivable 99,463 97,142
Prepaid expenses and other current assets 1,866 1,956
TOTAL CURRENT ASSETS 107,982 107,974
PROPERTY AND EQUIPMENT    
Oil and natural gas properties, at cost, using the successful efforts method of accounting, includes unproved properties of $937,395 and $937,395 at March 31, 2022 and December 31, 2021, respectively 3,003,776 3,001,627
Accumulated depreciation, depletion, amortization, and impairment (1,880,493) (1,869,731)
Oil and natural gas properties, net 1,123,283 1,131,896
Other property and equipment, net of accumulated depreciation of $13,000 and $12,931 at March 31, 2022 and December 31, 2021, respectively 1,262 1,440
NET PROPERTY AND EQUIPMENT 1,124,545 1,133,336
DEFERRED CHARGES AND OTHER LONG-TERM ASSETS 6,042 6,611
TOTAL ASSETS 1,238,569 1,247,921
CURRENT LIABILITIES    
Accounts payable 2,380 5,944
Accrued liabilities 5,960 17,589
Commodity derivative liabilities 138,028 51,544
Other current liabilities 2,070 2,063
TOTAL CURRENT LIABILITIES 148,438 77,140
LONG–TERM LIABILITIES    
Credit facility 69,000 89,000
Accrued incentive compensation 682 838
Commodity derivative liabilities 4,293 2,001
Asset retirement obligations 12,702 12,561
Other long-term liabilities 5,305 2,752
TOTAL LIABILITIES 240,420 184,292
COMMITMENTS AND CONTINGENCIES (Note 7)
EQUITY    
Partners' equity – general partner interest 0 0
TOTAL EQUITY 699,788 765,268
TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY 1,238,569 1,247,921
Series B Cumulative Convertible Preferred Units    
MEZZANINE EQUITY    
Partners' equity – Series B cumulative convertible preferred units, 14,711 units outstanding at March 31, 2022 and December 31, 2021, respectively 298,361 298,361
Common units    
EQUITY    
Partners' equity – common units, 209,392 and 208,666 units outstanding at March 31, 2022 and December 31, 2021, respectively $ 699,788 $ 765,268