Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 37,306 $ 149,036
Accounts receivable - net of allowance for credit losses of $1,497 and $1,049, respectively 65,554 212,183
Inventories 2,805 2,436
Prepaid expenses 5,061 10,815
Other current assets 1,103 1,121
Total current assets 111,829 375,591
PROPERTY AND EQUIPMENT - net of accumulated depreciation 978,749 1,047,535
OPERATING LEASE RIGHT-OF-USE ASSETS 851 989
OTHER NONCURRENT ASSETS:    
Goodwill 0 9,425
Other noncurrent assets 2,173 2,571
Total other noncurrent assets 2,173 11,996
TOTAL ASSETS 1,093,602 1,436,111
CURRENT LIABILITIES:    
Accounts payable 31,233 193,096
Operating lease liabilities 317 302
Finance lease liabilities 0 2,831
Accrued and other current liabilities 27,719 36,343
Accrued interest payable 0 394
Total current liabilities 59,269 232,966
DEFERRED INCOME TAXES 95,268 103,041
LONG-TERM DEBT 0 130,000
NONCURRENT OPERATING LEASE LIABILITIES 636 799
Total liabilities 155,173 466,806
COMMITMENTS AND CONTINGENCIES (Note 10)
SHAREHOLDERS’ EQUITY:    
Preferred stock, $0.001 par value, 30,000,000 shares authorized, none issued, respectively 0 0
Common stock, $0.001 par value, 200,000,000 shares authorized,100,889,230 and 100,624,099 shares issued, respectively 101 101
Additional paid-in capital 829,477 826,629
Retained earnings 108,851 142,575
Total shareholders’ equity 938,429 969,305
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,093,602 $ 1,436,111