| ASSETS | December 31, 2013 | ||
| CURRENT ASSETS: | |||
| Cash and cash equivalents | $ | 2,881,908 | |
| Short term investments | — | ||
| Accounts receivable - interest owners | 378,695 | ||
| Accounts receivable - oil and natural gas revenues | 4,421,858 | ||
| Accounts receivable - intercompany | 24,583,148 | ||
| Inventories | 64,036 | ||
| Prepaid expenses and deposits | 2,236,016 | ||
| Assets held for sale | 409,228 | ||
| Total current assets | 34,974,889 | ||
| OIL AND NATURAL GAS PROPERTIES, BASED ON THE FULL COST METHOD | |||
| Properties being amortized | 712,390,605 | ||
| Properties not subject to amortization | 142,637,389 | ||
| Less accumulated depreciation, depletion and impairment | (615,904,785 | ) | |
| 239,123,209 | |||
| PROPERTY AND EQUIPMENT, AT COST, NET | 10,922,454 | ||
| DERIVATIVE INSTRUMENTS | — | ||
| OTHER ASSETS | 8,574,011 | ||
| INVESTMENT IN SUB/INTERCOMPANY | 26,979,165 | ||
| TOTAL ASSETS | $ | 320,573,728 | |
| LIABILITIES AND SHAREHOLDERS' EQUITY | December 31, 2013 | ||
| CURRENT LIABILITIES | |||
| Accounts payable | $ | 21,198,608 | |
| Accounts payable - intercompany | 15,151,203 | ||
| Other accrued expenses | 13,511,773 | ||
| Accrued interest | 47,257,668 | ||
| Revenue distribution payable | 2,210,076 | ||
| Short-term derivative instruments | — | ||
| Current maturities of long-term debt | 20,025,750 | ||
| Total current liabilities | 119,355,078 | ||
| LONG-TERM DEBT, LESS CURRENT MATURITIES | 413,011,993 | ||
| OTHER LIABILITIES | 2,245,066 | ||
| SHAREHOLDERS' EQUITY | |||
| 9.25% Series B Cumulative Preferred Stock | 3,177 | ||
| Common Stock | 98,062 | ||
| Additional paid-in capital | 719,117,978 | ||
| Retained earnings (Accumulated deficit) | (933,257,626 | ) | |
| Accumulated other comprehensive income, net of taxes | — | ||
| Total GMX shareholders' equity | (214,038,409 | ) | |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 320,573,728 | |
| ASSETS | December 31, 2013 | ||
| CURRENT ASSETS: | |||
| Cash and cash equivalents | $ | 10,613 | |
| Accounts receivable - intercompany | 11,734,954 | ||
| Total current assets | 11,745,567 | ||
| PROPERTY AND EQUIPMENT, AT COST, NET | 163,516 | ||
| TOTAL ASSETS | $ | 11,909,083 | |
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||
| CURRENT LIABILITIES | |||
| Accounts payable | $ | 85 | |
| Other accrued expenses | 945 | ||
| Total current liabilities | 1,030 | ||
| Shareholders' equity | 11,908,053 | ||
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 11,909,083 | |
| ASSETS | |||
| December 31, 2013 | |||
| CURRENT ASSETS: | |||
| Cash and cash equivalents | $ | 2,327,657 | |
| Accounts receivable - other | 52,673 | ||
| Accounts receivable - oil and natural gas revenues | 3,839,254 | ||
| Accounts receivable - intercompany | 2,229,867 | ||
| Prepaid expenses and deposits | 27,603 | ||
| Total current assets | 8,477,054 | ||
| PROPERTY AND EQUIPMENT, AT COST, NET | 3,677,901 | ||
| TOTAL ASSETS | $ | 12,154,955 | |
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||
| CURRENT LIABILITIES | |||
| Accounts payable - intercompany | $ | 29,752,646 | |
| Other accrued expenses | 1,385,830 | ||
| Total current liabilities | 31,138,476 | ||
| Shareholders' equity | (18,983,521 | ) | |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 12,154,955 | |
