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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating Activities      
Net income $ 126,917 $ 37,172 $ 13,941
Adjustments to reconcile net income to net cash provided by operating activities:      
Depletion, depreciation, accretion and impairment (Note 6) 231,235 163,573 135,863
Deferred taxes (Note 9) (29,222) (20,090) (15,355)
Stock-based compensation (Note 7) 12,767 8,025 5,309
(Gain) loss on financial instruments (Notes 3 and 12) (1,354) (44) 277
Unrealized foreign exchange (gain) loss (1,695) 14,786 19,496
Settlement of asset retirement obligation (Note 8) (345) (286) (52)
Equity tax 2,442 0 0
Gain on acquisition (Note 3 and 12) (21,699) 0 0
Net changes in non-cash working capital      
Accounts receivable (15,627) (5,323) (27,926)
Inventory (548) (1,221) (1,849)
Prepaids (1,321) (120) (717)
Accounts payable and accrued liabilities 19,918 (3,212) 36,875
Taxes receivable and payable 35,422 10,522 (409)
Net cash provided by operating activities 356,890 203,782 165,453
Investing Activities      
Restricted cash (10,197) 352 (1,792)
Additions to property, plant and equipment (333,194) (152,299) (80,932)
Proceeds from disposition of oil and gas properties (Note 6) 4,450 7,986 5,400
Cash acquired on acquisition (Note 3) 7,747 0 0
Proceeds on sale of asset-backed commercial paper (Note 3) 22,679 0 0
Long term assets and liabilities (3,138) 36 968
Net cash used in investing activities (311,653) (143,925) (76,356)
Financing Activities      
Settlement of bank debt (Notes 3 and 13) (54,103) 0 0
Proceeds from issuance of common shares 5,123 24,785 4,935
Net cash (used in) provided by financing activities (48,980) 24,785 4,935
Net (decrease) increase in cash and cash equivalents (3,743) 84,642 94,032
Cash and cash equivalents, beginning of year 355,428 270,786 176,754
Cash and cash equivalents, end of year 351,685 355,428 270,786
Cash 172,645 272,151 182,197
Term deposits 179,040 83,277 88,589
Cash and cash equivalents, end of year 351,685 355,428 270,786
Supplemental cash flow disclosures:      
Cash paid for interest 1,604 0 0
Cash paid for taxes 67,053 49,088 31,527
Non-cash investing activities:      
Non-cash working capital related to property, plant and equipment $ 43,333 $ 48,640 $ 17,972