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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating activities    
Net income $ 26,260 $ 86,631
Adjustments to reconcile net cash provided from operating activities:    
(Gain) loss from discontinued operations (13,915) 8,721
Loss from equity method investments, net of distributions 19,259 985
Deferred income tax expense 12,798 60,775
Depletion, depreciation, amortization and proved property impairment 150,510 139,126
Exploration dry hole costs 6  
Mark-to-market gain on gas and oil derivatives not designated as hedges (8,103) (42,169)
Abandonment and impairment of unproved properties 35,437 16,278
Unrealized derivative gain (6,502) (11)
Allowance for bad debts (404)  
Deferred and stock-based compensation 48,161 5,866
Amortization of deferred financing costs, loss on extinguishment of debt and other 19,891 2,367
Loss (gain) on sale of assets 1,483 (78,089)
Changes in working capital:    
Accounts receivable (4,159) 8,061
Inventory and other 2,747 338
Accounts payable (6,222) 13,859
Accrued liabilities and other (436) (14,038)
Net cash provided from continuing operations 276,811 208,700
Net cash provided from discontinued operations 36,802 51,737
Net cash provided from operating activities 313,613 260,437
Investing activities    
Additions to oil and gas properties (535,307) (322,395)
Additions to field service assets (2,830) (10,270)
Acreage and proved property purchases (73,070) (187,192)
Other assets   (45)
Proceeds from disposal of assets 23,409 318,632
Purchase of marketable securities held by the deferred compensation plan (8,832) (14,553)
Proceeds from the sales of marketable securities held by the deferred compensation plan 6,620 13,296
Net cash used in investing activities from continuing operations (590,010) (202,527)
Investing activities of discontinued operations 835,147 (27,011)
Net cash provided from (used in) investing activities 245,137 (229,538)
Financing activities    
Borrowing on credit facilities 490,826 371,000
Repayment on credit facilities (764,826) (220,000)
Dividends paid (12,860) (12,768)
Issuance of common stock 554 5,785
Issuance of subordinated notes 500,000  
Repayment of subordinated notes (413,332)  
Debt issuance costs (21,653)  
Change in cash overdrafts (58,265) (13,385)
Proceeds from the sales of common stock held by the deferred compensation plan 6,797 4,560
Net cash (used in) provided from financing activities (272,759) 135,192
Increase in cash and equivalents 285,991 166,091
Cash and cash equivalents at beginning of period 2,848 767
Cash and cash equivalents at end of period $ 288,839 $ 166,858