Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED CONDENSED BALANCE SHEETS

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CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 108,427 $ 134,294
Accounts and Notes Receivable, net of allowance for bad debts of $8,250 at March 31, 2016 and $8,694 at December 31, 2015. 175,382 175,105
Rig materials and supplies 36,508 34,937
Other current assets 24,438 22,405
Total current assets 344,755 366,741
Property, plant and equipment, net of accumulated depreciation of $1,329,305 at March 31, 2016 and $1,302,380 at December 31, 2015. 776,912 805,841
Goodwill (Note 3) 6,708 6,708
Intangible assets, net (Note 3) 12,220 13,377
Deferred income taxes 78,992 139,282
Other noncurrent assets 35,062 34,753
Total assets 1,254,649 1,366,702
Current liabilities:    
Current portion of long-term debt   0
Accounts payable and accrued liabilities 114,993 129,703
Accrued income taxes 5,980 6,418
Total current liabilities 120,973 136,121
Long-term debt, net of unamortized debt issuance costs of $9,829 at March 31, 2016 and $10,202 at December 31, 2015. 575,171 574,798
Other long-term liabilities 13,755 18,617
Long-term deferred tax liability 71,898 68,654
Stockholders’ equity:    
Common stock 20,604 20,518
Capital in excess of par value 670,245 669,120
Accumulated deficit (215,073) (119,238)
Accumulated other comprehensive (loss) (2,924) (1,888)
Total stockholders’ equity 472,852 568,512
Total equity 472,852 568,512
Total liabilities and stockholders’ equity $ 1,254,649 $ 1,366,702