v2.4.0.6
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
CURRENT ASSETS:    
Cash and cash equivalents $ 767 $ 301
Accounts receivable:    
Joint interest owners 215 179
Oil, NGL and gas sales 12,575 10,060
Unrealized gain on commodity derivatives 1,552  
Prepaid expenses and other current assets 547 342
Deferred income taxes - current   504
Total current assets 15,656 11,386
PROPERTIES AND EQUIPMENT:    
Oil and gas properties, at cost, using the successful efforts method of accounting 1,025,440 732,659
Furniture, fixtures and equipment 2,108 1,621
Total properties and equipment 1,027,548 734,280
Less accumulated depletion, depreciation and amortization (199,081) (138,996)
Net properties and equipment 828,467 595,284
Equity method investment 9,892  
Unrealized gain on commodity derivatives 881  
Other assets 843 1,224
Total assets 855,739 607,894
CURRENT LIABILITIES:    
Accounts payable 24,916 12,599
Oil, NGL and gas sales payable 4,960 4,748
Deferred income taxes - current 531  
Accrued liabilities 29,840 24,837
Unrealized loss on commodity derivatives   1,441
Total current liabilities 60,247 43,625
NON-CURRENT LIABILITIES:    
Long-term debt 106,000 43,800
Deferred income taxes 48,593 46,290
Asset retirement obligations 7,431 6,730
Total liabilities 222,271 140,445
COMMITMENTS AND CONTINGENCIES (Note 8)      
STOCKHOLDERS' EQUITY :    
Preferred stock, $0.01 par value, 10,000,000 shares authorized none outstanding      
Common stock, $0.01 par value, 90,000,000 shares authorized, 38,829,368 and 33,093,594 issued and outstanding, respectively 388 331
Additional paid-in capital 560,468 400,890
Retained earnings 72,612 66,228
Total stockholders' equity 633,468 467,449
Total liabilities and stockholders' equity $ 855,739 $ 607,894