v3.10.0.1
CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 81,728 $ 141,549
Accounts and notes receivable, net of allowance for bad debts of $7,547 at September 30, 2018 and $7,564 at December 31, 2017 137,901 122,511
Rig materials and supplies 34,498 31,415
Other current assets 27,673 22,361
Total current assets 281,800 317,836
Property, plant and equipment, net of accumulated depreciation of $973,002 at September 30, 2018 and $1,343,105 at December 31, 2017 550,469 625,771
Goodwill (Note 3) 6,708 6,708
Intangible assets, net (Note 3) 5,398 7,128
Deferred income taxes 1,811 1,284
Other noncurrent assets 22,995 31,552
Total assets 869,181 990,279
Current liabilities:    
Accounts payable and accrued liabilities 103,241 99,246
Accrued income taxes 4,212 4,430
Total current liabilities 107,453 103,676
Long-term debt, net of unamortized debt issuance costs of $5,711 at September 30, 2018 and $7,029 at December 31, 2017 (Note 4) 579,289 577,971
Other long-term liabilities 12,208 12,433
Long-term deferred tax liability 60 78
Commitments and contingencies (Note 7)
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, 9,381,316 shares (9,262,382 shares in 2017) [1] 1,397 1,378
Capital in excess of par value [1] 765,863 766,508
Accumulated deficit (591,377) (468,753)
Accumulated other comprehensive income (loss) (6,212) (3,512)
Total stockholders’ equity 170,171 296,121
Total liabilities and stockholders’ equity $ 869,181 $ 990,279
[1] See Note 8 - Stockholders’ Equity for details regarding the 1-for-15 reverse stock split.

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