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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (791,989) $ (85,743)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Losses (gains) on commodity derivative contracts - net (2,079) 54,140
Net cash received (paid) for commodity derivative contracts not designated as hedging instruments 94,797 (31,948)
Asset retirement accretion 835 929
Depreciation, depletion, and amortization 113,683 137,975
Impairment in carrying value of oil and gas properties 673,056 86,471
Share-based compensation, net of amounts capitalized to oil and gas properties 2,897 3,668
Deferred income taxes (9,041) (2,311)
Amortization of deferred financing costs 8,356 4,197
Paid-in-kind interest expense 1,187  
Amortization of deferred gain on debt restructuring (1,775)  
Transaction costs for debt restructuring 34,398  
Change in operating assets and liabilities:    
Accounts receivable - oil and gas sales 139 (998)
Accounts receivable - JIB and other 22,617 (1,557)
Other current and noncurrent assets (1,275) (1,094)
Accounts payable (2,793) 4,756
Accrued liabilities (4,058) 4,365
Other (305) 711
Net cash provided by operating activities 138,650 173,561
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in property and equipment (190,278) (275,547)
Proceeds from the sale of oil and gas properties 40,284 147,519
Net cash used in investing activities (149,994) (128,028)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from second lien notes 625,000  
Proceeds from revolving credit facility 33,000 84,000
Repayment of revolving credit facility (468,150) (131,000)
Deferred financing costs (4,199) (545)
Transaction costs for debt restructuring (34,398)  
Acquisition of treasury stock (429) (1,491)
Net cash provided by (used in) financing activities 150,824 (49,036)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 139,480 (3,503)
Cash and cash equivalents, beginning of period 11,557 33,163
Cash and cash equivalents, end of period 151,037 29,660
SUPPLEMENTAL INFORMATION:    
Non-cash investment in property and equipment 61,728 115,000
Non-cash exchange of third lien notes for 2020 senior notes and 2021 senior notes 524,121  
Cash paid for interest, net of capitalized interest of $2.1 million and $8.0 million, respectively $ 71,569 $ 63,383