XML 75 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 8,812 $ 1,521
Trade accounts receivable - net 70,707 67,991
Fair value of commodity derivative instruments 501 3,302
Deferred tax asset 8,949 3,322
Prepaid expenses 6,868 9,873
Total current assets 95,837 86,009
Property and equipment, at cost under the successful efforts method of accounting 2,355,219 2,025,647
Less accumulated depreciation, depletion, amortization and impairments (618,788) (427,580)
Net property and equipment 1,736,431 1,598,067
Deposit for Nexen Acquisition 7,040  
Restricted cash 6,023 6,023
Fair value of commodity derivative instruments 238 211
Deferred financing costs -- net of accumulated amortization of $5,549 and $2,596 at December 31, 2013 and 2012, respectively 10,106 12,386
Other assets 2,156 2,931
Total Assets 1,857,831 1,705,627
Current liabilities:    
Accounts payable 59,431 34,772
Accrued expenses 131,125 117,372
Asset retirement obligations 51,601 30,179
Fair value of commodity derivative instruments 29,636 10,026
Total current liabilities 271,793 192,349
Long-term debt 627,355 689,911
Asset retirement obligations 203,849 204,931
Deferred tax liabilities 122,812 67,694
Fair value of commodity derivative instruments 2,136 3,637
Other 673 1,132
Total Liabilities 1,228,618 1,159,654
Commitments and contingencies (Note 13)      
Stockholders' equity:    
Preferred stock, $0.001 par value. Authorized 1,000,000 shares; no shares issued and outstanding at December 31, 2012 and 2011, respectively      
Common stock, par value $0.001 per share. Authorized 75,000,000 shares; shares issued: 40,970,137 and 40,601,887 at December 31, 2013 and 2012, respectively; shares outstanding: 39,097,394 and 39,103,203 December 31, 2012 and 2011, respectively 41 40
Additional paid-in capital 519,114 510,469
Treasury stock, at cost, 1,498,684 and 922,345 shares at December 31, 2012 and 2011, respectively (31,157) (20,477)
Retained earnings 141,215 55,941
Total stockholders' equity 629,213 545,973
Total liabilities and stockholders' equity $ 1,857,831 $ 1,705,627