Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2018

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):



	March 31, 2018			December 31, 2017
Property and Equipment
Proved oil and gas properties	$	664,742		$	658,519
Unproved oil and gas properties	55,725			50,377
Furniture, fixtures, and other equipment	3,361			3,270
Less – Accumulated depreciation, depletion, amortization & impairment	(229,901		)	(216,769		)
Property and Equipment, Net	$	493,927		$	495,397

Accounts Payable and Accrued Liabilities

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



	March 31, 2018		December 31, 2017
Trade accounts payable	$	15,440	$	20,884
Accrued operating expenses	2,964		3,490
Accrued compensation costs	1,956		5,334
Asset retirement obligations – current portion	467		2,109
Accrued non-income based taxes	4,058		3,898
Accrued corporate and legal fees	2,982		2,784
Other payables	4,422		5,938
Total accounts payable and accrued liabilities	$	32,289	$	44,437

Cash, Cash Equivalents and Restricted Cash

The following table is a reconciliation of the total cash and cash equivalents and restricted cash in the accompanying condensed consolidated statement of cash flows and their corresponding balance sheet presentation (in thousands):



	March 31, 2018		December 31, 2017		March 31, 2017
Cash and cash equivalents	$	237	$	7,806	$	168
Long-term restricted cash ⁽¹⁾	220		220		832
Total cash, cash equivalents and restricted cash	$	457	$	8,026	$	1,000

(1) Long-term restricted cash is included in “Other Long-Term Assets” on the accompanying condensed consolidated balance sheets.