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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 170,912 $ 213,975
Accounts receivable, net of allowance for credit losses of $2.8 million and $2.7 million at March 31, 2023 and December 31, 2022, respectively 49,145 57,776
Prepaid expenses and other 2,819 3,718
Total current assets 222,876 275,469
Oil and natural gas properties on the full cost method:    
Proved properties 182,919 176,986
Unproved properties not being amortized 1,889 6,953
Drilling equipment 77,041 76,640
Other 11,281 11,319
Property, plant, and equipment, gross 273,130 271,898
Less accumulated depreciation, depletion, amortization, and impairment 100,762 96,605
Net property and equipment 172,368 175,293
Deferred tax assets, net (Note 17) 74,836 0
Equity method investments 1,658 1,658
Right of use asset (Note 14) 9,002 6,551
Other assets 10,086 10,284
Total assets 490,826 469,255
Current liabilities:    
Accounts payable 17,894 20,356
Accrued liabilities (Note 8) 10,573 18,716
Current operating lease liability (Note 14) 3,196 1,605
Current derivative liabilities (Note 12) 12,571 23,566
Current portion of other long-term liabilities (Note 9) 5,280 3,989
Total current liabilities 49,514 68,232
Operating lease liability (Note 14) 5,905 5,035
Other long-term liabilities (Note 9) 34,732 33,362
Shareholders' equity:    
Preferred stock, $0.01 par value, 1,000,000 shares authorized, none issued 0 0
Common stock, $0.01 par value, 25,000,000 shares authorized; 12,105,297 shares issued and 9,632,905 outstanding at March 31, 2023, and 12,100,356 shares issued and 9,627,964 outstanding at December 31, 2022 121 121
Treasury stock (Note 5) (79,399) (79,399)
Capital in excess of par value 253,956 252,464
Retained Earnings (Accumulated Deficit) 225,997 189,440
Total shareholders' equity 400,675 362,626
Total liabilities and shareholders' equity $ 490,826 $ 469,255