Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2017

The “Property and Equipment” balances on the accompanying condensed consolidated balance sheets are summarized for presentation purposes. The following is a detailed breakout of our “Property and Equipment” balances (in thousands):



	June 30, 2017			December 31, 2016
Property and Equipment
Proved oil and gas properties	$	565,142		$	480,499
Unproved oil and gas properties	39,919			33,354
Furniture, fixtures, and other equipment	3,097			3,221
Less – Accumulated depreciation, depletion, amortization & impairment	(190,379		)	(169,879		)
Property and Equipment, Net	$	417,779		$	347,195

Accounts Payable and Accrued Liabilities

The “Accounts payable and accrued liabilities” balances on the accompanying condensed consolidated balance sheets are summarized below (in thousands):



	June 30, 2017		December 31, 2016
Trade accounts payable	$	10,823	$	10,563
Accrued operating expenses	2,960		2,990
Accrued compensation costs	3,575		4,730
Asset retirement obligations – current portion	8,744		9,965
Accrued non-income based taxes	4,884		3,937
Accrued price risk management liabilities	3,183		17,632
Accrued corporate and legal fees	3,397		3,075
Other payables	4,254		3,365
Total accounts payable and accrued liabilities	$	41,820	$	56,257