CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 573,025	$ 7,780
Accounts receivable:
Oil and gas sales	18,752	16,660
Joint interest and other, net of allowance for doubtful accounts of $2,919 at December 31, 2016 and $2,447 at December 31, 2015	4,148	3,661
Affiliates	258	260
Inventory	25,781	31,455
Deferred income taxes	6,520	6,526
Prepaids and other	2,702	2,463
TOTAL CURRENT ASSETS	631,186	68,805
PROPERTY AND EQUIPMENT
Oil and gas properties, successful efforts method	1,717,209	2,585,502
Pipelines and other midstream facilities	63,228	60,120
Contract drilling equipment	118,256	123,876
Other	20,822	19,371
PROPERTY AND EQUIPMENT, GROSS	1,919,515	2,788,869
Less accumulated depreciation, depletion and amortization	(1,063,379)	(1,587,585)
Property and equipment, net	856,136	1,201,284
OTHER ASSETS
Investments and other	7,317	17,331
Total assets	1,494,639	1,287,420
Accounts payable:
Trade	44,809	29,197
Oil and gas sales	20,862	19,490
Affiliates	252	383
Fair value of commodity derivatives	12,895	0
Accrued liabilities and other	27,948	16,669
TOTAL CURRENT LIABILITIES	106,766	65,739
NON-CURRENT LIABILITIES
Long-term debt	847,995	742,410
Fair value of common stock warrants	246,743	0
Deferred income taxes	76,590	108,996
Asset retirement obligations	47,223	48,728
Accrued compensation under non-equity award plans	4,655	16,254
Deferred revenue from volumetric production payment and other	4,136	5,695
TOTAL NON-CURRENT LIABILITIES	1,227,342	922,083
COMMITMENTS AND CONTINGENCIES (see Note 15)
SHAREHOLDERS’ EQUITY
Preferred stock, par value $.10 per share, authorized — 3,000,000 shares; issued and outstanding — 3,500 shares at December 31, 2016 and none at December 31, 2015	0	0
Common stock, par value $.10 per share, authorized — 30,000,000 shares; issued and outstanding — 17,630,801 shares at December 31, 2016 and 12,169,536 at December 31, 2015	1,763	1,216
Additional paid-in capital	305,223	152,686
Retained earnings (accumulated deficit)	(146,455)	145,696
TOTAL STOCKHOLDERS' EQUITY	160,531	299,598
Total liabilities and equity	$ 1,494,639	$ 1,287,420