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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net loss $ (28,841) $ (58,993)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depletion, depreciation and amortization 37,529 33,817
Deferred income taxes 22,133 (1,951)
Unsuccessful well costs 88 2,222
Change in fair value of derivatives (38,177) (2,377)
Cash settlements on derivatives, net (including $11.4 million and $56.6 million on commodity hedges during 2017 and 2016 11,153 56,901
Equity-based compensation 9,830 10,635
Other 621 14,969
Changes in assets and liabilities:    
(Increase) decrease in receivables (44,853) 39,894
(Increase) decrease in inventories (10,044) 2,237
Decrease in prepaid expenses and other 352 13,674
Decrease in accounts payable (2,905) (58,501)
Increase (decrease) in accrued liabilities 12,732 (36,910)
Net cash provided by (used in) operating activities (30,382) 15,617
Investing activities    
Oil and gas assets (31,810) (226,571)
Other property (271) (47)
Proceeds on sale of assets 203,919  
Net cash provided by (used in) investing activities 171,838 (226,618)
Financing activities    
Borrowings under long-term debt   150,000
Payments on long-term debt (150,000)  
Purchase of treasury stock (1,115) (1,074)
Net cash provided by (used in) financing activities (151,115) 148,926
Net decrease in cash, cash equivalents and restricted cash (9,659) (62,075)
Cash, cash equivalents and restricted cash at beginning of period 273,195 310,862
Cash, cash equivalents and restricted cash at end of period 263,536 248,787
Cash paid for:    
Interest 20,559 14,611
Income taxes   2,734
Non-cash activity:    
Conversion of joint interest billings receivable to long-term note receivable 4,042 $ 3,417
Contribution to equity method investment $ 133,894