Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED CONDENSED BALANCE SHEETS

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CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 114,459 $ 141,549
Accounts and notes receivable, net of allowance for bad debts of $7,549 at June 30, 2018 and $7,564 at December 31, 2017 122,673 122,511
Rig materials and supplies 31,921 31,415
Other current assets 23,640 22,361
Total current assets 292,693 317,836
Property, plant and equipment, net of accumulated depreciation of $1,340,963 at June 30, 2018 and $1,343,105 at December 31, 2017 602,069 625,771
Goodwill (Note 2) 6,708 6,708
Intangible assets, net (Note 2) 5,974 7,128
Deferred income taxes 2,161 1,284
Other noncurrent assets 27,614 31,552
Total assets 937,219 990,279
Current liabilities:    
Accounts payable and accrued liabilities 102,797 99,246
Accrued income taxes 3,457 4,430
Total current liabilities 106,254 103,676
Long-term debt, net of unamortized debt issuance costs of $6,160 at June 30, 2018 and $7,029 at December 31, 2017 (Note 3) 578,840 577,971
Other long-term liabilities 10,335 12,433
Long-term deferred tax liability 60 78
Commitments and contingencies (Note 6)
Stockholders' equity:    
Preferred stock, $1.00 par value, 1,942,000 shares authorized, 7.25% Series A Mandatory Convertible, 500,000 shares issued and outstanding 500 500
Common Stock, $0.16 2/3 par value, authorized 18,666,667 shares, issued and outstanding, 9,319,722 shares (9,262,382 shares in 2017) [1] 1,387 1,378
Capital in excess of par value [1] 766,328 766,508
Accumulated deficit (520,426) (468,753)
Accumulated other comprehensive income (loss) (6,059) (3,512)
Total stockholders' equity 241,730 296,121
Total liabilities and stockholders' equity $ 937,219 $ 990,279
[1] See Note 7 - Stockholders' Equity for details regarding the 1-for-15 reverse stock split.