Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 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):



	September 30, 2017			December 31, 2016
Property and Equipment
Proved oil and gas properties	$	613,207		$	480,499
Unproved oil and gas properties	52,075			33,354
Furniture, fixtures, and other equipment	3,116			3,221
Less – Accumulated depreciation, depletion, amortization & impairment	(202,211		)	(169,879		)
Property and Equipment, Net	$	466,187		$	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):



	September 30, 2017		December 31, 2016
Trade accounts payable	$	9,302	$	10,563
Accrued operating expenses	3,167		2,990
Accrued compensation costs	4,868		4,730
Asset retirement obligations – current portion	8,558		9,965
Accrued non-income based taxes	5,123		3,937
Accrued price risk management liabilities	2,459		17,632
Accrued corporate and legal fees	2,758		3,075
Other payables	5,763		3,365
Total accounts payable and accrued liabilities	$	41,998	$	56,257