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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended 12 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Dec. 31, 2015
Dec. 31, 2014
Operating activities        
Net income (loss) $ (35,401,000) $ (2,492,000) $ (27,332,965) $ 36,465,630
Adjustments to reconcile net income (loss) to net cash provided by operating activities        
(Gain) loss on disposal of oil and gas properties (866,000) 629,000 629,253 (466,490)
Accretion of asset retirement obligations 160,000 160,000 214,335 201,076
Depletion, depreciation, and amortization 38,301,000 39,861,000 58,827,705 40,521,546
Stock-based compensation 313,000 1,746,000 2,585,111 1,938,400
Deferred taxes (10,432,000) (1,418,000) (15,497,468) 22,662,988
(Gain) loss on derivative financial instruments 3,405,000 (18,956,000) (27,608,534) (43,972,245)
Settlements of derivative financial instruments 24,322,000 26,497,000 35,284,243 (1,503,609)
Gain on disposal of bonds (29,363,000)      
Impairment of oil and gas properties 31,082,000   28,622,961 5,478,264
Non-cash interest expense 1,677,000 825,000 1,100,000 825,000
Changes in operating assets and liabilities:        
Accounts receivable 865,000 8,526,000 10,856,325 (9,408,033)
Prepaid expenses and other assets (1,961,000) (896,000) 223,186 (1,856,749)
Accounts payable and accrued expenses (4,479,000) (4,453,000) (17,065,347) 31,341,672
Net cash provided by operating activities 17,623,000 50,029,000 50,838,805 82,227,450
Investing activities        
Acquisition of oil and gas properties (3,115,000) (7,032,000) (8,723,497) (70,978,282)
Development of oil and gas properties (24,856,000) (77,735,000) (85,458,433) (164,180,576)
Proceeds from sales of oil and gas properties 2,720,000     3,200,000
Purchases of other property and equipment (202,000) (191,000) (337,147) (1,086,073)
Net cash used in investing activities (25,453,000) (84,958,000) (94,519,077) (233,044,931)
Financing activities        
Proceeds from borrowings 64,325,000 123,514,000 140,513,602 135,000,000
Payments on borrowings (54,789,000) (93,514,000) (102,513,602) (195,000,000)
Proceeds from bond offering       214,500,000
Payments on other note payable (9,000) (9,000) (3,016) (30,000)
Net cash provided by (used in) financing activities 9,527,000 29,991,000 37,996,984 154,470,000
Effect of exchange rate changes on cash and cash equivalents (29,000) (29,000) 12,267 (404,038)
Increase (decrease) in cash and cash equivalents 1,668,000 (4,967,000) (5,671,021) 3,248,481
Cash and cash equivalents, beginning of the period 4,321,456 9,992,477 9,992,477 6,743,996
Cash and cash equivalents, end of the period 5,990,000 5,025,000 4,321,456 9,992,477
Supplemental information        
Cash paid for federal income taxes     257,000 90,000
Cash paid for interest expense 14,095,000 $ 11,020,000 $ 21,492,189 $ 13,400,795
Common stock issued for asset acquisition $ 5,500,000