v2.3.0.11
Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2011
Dec. 31, 2010
CURRENT ASSETS:    
Cash and cash equivalents $ 831 $ 23,465
Accounts receivable:    
Joint interest owners 462 8,319
Oil, NGL and gas sales 8,973 6,044
Unrealized gain on commodity derivatives 1,278 862
Prepaid expenses and other current assets 474 322
Deferred income taxes - current 1,799 2,318
Total current assets 13,817 41,330
PROPERTIES AND EQUIPMENT:    
Oil and gas properties, at cost, using the successful efforts method of accounting 632,698 474,917
Furniture, fixtures and equipment 1,507 1,077
Total properties and equipment 634,205 475,994
Less accumulated depletion, depreciation and amortization (120,700) (106,784)
Net properties and equipment 513,505 369,210
OTHER ASSETS 3,242 2,549
Total assets 530,564 413,089
CURRENT LIABILITIES:    
Advances from non-operators 0 509
Accounts payable 17,696 11,426
Oil, NGL and gas sales payable 4,309 5,534
Accrued liabilities 14,320 10,686
Unrealized loss on commodity derivatives 0 1,085
Total current liabilities 36,325 29,240
NON-CURRENT LIABILITIES:    
Long-term debt 93,550 0
Unrealized loss on commodity derivatives 289 871
Deferred income taxes 49,310 44,616
Asset retirement obligations 6,288 5,416
Total liabilities 185,762 80,143
COMMITMENTS AND CONTINGENCIES    
STOCKHOLDERS' EQUITY :    
Preferred stock, $0.01 par value, 10,000,000 shares authorized none outstanding 0 0
Common stock, $0.01 par value, 90,000,000 shares authorized, 28445381 and 28,226,890 issued and outstanding, respectively 284 282
Additional paid-in capital 276,315 273,912
Retained earnings 68,439 58,986
Accumulated other comprehensive loss (236) (234)
Total stockholders' equity 344,802 332,946
Total liabilities and stockholders' equity $ 530,564 $ 413,089