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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net income (loss) $ (283,780) $ (69,836) $ 279,370
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depletion, depreciation and amortization 150,608 166,290 208,628
Deferred income taxes (23,561) 110,786 216,409
Unsuccessful well costs 6,079 94,910 1,105
Change in fair value of derivatives 46,559 (210,957) (271,298)
Cash settlements on derivatives, net (including $187.9 million, $225.5 million and $18.4 million on commodity hedges during 2016, 2015 and 2014) 188,895 224,741 4,460
Equity-based compensation 40,084 75,057 79,541
Gain on sale of assets   (24,651) (23,769)
Loss on extinguishment of debt   165 2,898
Other 13,355 7,875 (3,875)
Changes in assets and liabilities:      
(Increase) decrease in receivables (20,558) 2,209 (156,192)
Increase in inventories (4,107) (29,855) (8,100)
(Increase) decrease in prepaid expenses and other 17,557 512 1,732
Increase (decrease) in accounts payable (75,487) 111,289 90,228
Increase (decrease) in accrued liabilities (3,567) (17,756) 22,449
Net cash provided by (used in) operating activities 52,077 440,779 443,586
Investing activities      
Oil and gas assets (535,975) (823,642) (424,535)
Other property (1,998) (1,483) (2,383)
Proceeds on sale of assets 210 28,692 58,315
Net cash used in investing activities (537,763) (796,433) (368,603)
Financing activities      
Borrowings under long-term debt 450,000 100,000  
Payments on long-term debt   (200,000) (400,000)
Net proceeds from issuance of senior secured notes   206,774 294,000
Purchase of treasury stock (1,981) (18,110) (11,096)
Deferred financing costs   (9,030) (22,088)
Net cash provided by (used in) financing activities 448,019 79,634 (139,184)
Net decrease in cash, cash equivalents and restricted cash (37,667) (276,020) (64,201)
Cash, cash equivalents and restricted cash at beginning of period 310,862 586,882 651,083
Cash, cash equivalents and restricted cash at end of period 273,195 310,862 586,882
Cash paid for:      
Interest 27,860 33,315 23,182
Income taxes 13,997 $ 35,857 $ 108,068
Non-cash activity:      
Conversion of joint interest billings receivable to long-term note receivable $ 9,814