Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 20,516 $ 7,798
Accounts receivable, net of allowance for credit losses 26,030 70,716
Derivative Asset, Current 50,414 4,131
Income Taxes Receivable, Current 0 1,236
Other current assets 12,836 4,458
Total current assets 109,796 88,339
Property and equipment, net (full cost method) 835,500 1,120,425
Derivative Asset, Noncurrent 2,619 2,750
Other assets 5,259 6,724
Total assets 953,174 1,218,238
Current liabilities    
Accounts payable and accrued liabilities 48,345 105,824
Derivative liabilities 22,861 23,450
Total current liabilities 71,206 129,274
Other liabilities 8,443 8,382
Deferred income taxes 1,393 1,424
Derivative liabilities 5,542 3,385
Long-term debt, net 518,858 555,028
Commitments and contingencies (Note 12)
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; 15,200,435 and 15,135,598 shares issued as of September 30, 2020 and December 31, 2019, respectively 152 151
Paid-in capital 202,766 200,666
Retained earnings 144,877 319,987
Accumulated other comprehensive loss (63) (59)
Total shareholders’ equity 347,732 520,745
Total liabilities and shareholders’ equity $ 953,174 $ 1,218,238