Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 7,798 $ 17,864
Accounts receivable, net of allowance for doubtful accounts 70,716 66,038
Derivative assets 4,131 34,932
Income taxes receivable 1,236 2,471
Other current assets 4,458 5,125
Total current assets 88,339 126,430
Property and equipment, net (full cost method) 1,120,425 927,994
Derivative assets 2,750 10,100
Deferred income taxes 0 1,949
Other assets 6,724 2,481
Total assets 1,218,238 1,068,954
Current liabilities    
Accounts payable and accrued liabilities 105,824 103,700
Derivative liabilities 23,450 991
Total current liabilities 129,274 104,691
Other liabilities 8,382 5,533
Deferred income taxes 1,424 0
Derivative liabilities 3,385 0
Long-term debt, net 555,028 511,375
Commitments and contingencies (Note 14)
Shareholders’ equity:    
Preferred stock of $0.01 par value – 5,000,000 shares authorized; none issued 0 0
Common stock of $0.01 par value – 45,000,000 shares authorized; 15,135,598 and 15,080,594 shares issued as of December 31, 2019 and December 31, 2018, respectively 151 151
Paid-in capital 200,666 197,630
Retained earnings 319,987 249,492
Accumulated other comprehensive income (loss) (59) 82
Total shareholders’ equity 520,745 447,355
Total liabilities and shareholders’ equity $ 1,218,238 $ 1,068,954