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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES    
Net income (loss) $ (88,275) $ 284,665
Adjustments to reconcile net income (loss) to net cash provided by continuing operations activities:    
Loss from discontinued operations 2,819 27,289
Depreciation, depletion and amortization 884,417 855,242
Amortization of deferred major repair costs 3,404 4,313
Dry hole costs 99,023 127,827
Amortization of undeveloped leases 45,825 37,764
Accretion of asset retirement obligations 23,519 24,392
Deferred and noncurrent income tax charges (benefits) (194,240) 18,122
Pretax (gains) losses from disposition of assets (154,123) 4,997
Net decrease in noncash operating working capital 107,171 48,449
Other operating activities, net (14,329) 22,106
Net cash provided by continuing operations activities 715,211 1,455,166
INVESTING ACTIVITIES    
Property additions and dry hole costs (1,433,615) (1,840,544)
Proceeds from sales of property, plant and equipment 423,106 3,089
Purchase of investment securities [1] (629,763) (372,861)
Proceeds from maturity of investment securities [1] 663,343 320,331
Other investing activities, net (20,568) (13,007)
Net cash required by investing activities (997,497) (1,902,992)
FINANCING ACTIVITIES    
Borrowings of debt 823,000 850,000
Repayments of debt (450,000)  
Repayment of capital lease obligation (4,703)  
Purchase of treasury stock (250,000) (375,000)
Withholding tax on stock-based incentive awards (8,976) (6,784)
Cash dividends paid (124,581) (112,126)
Other financing activities, net (152) (1,224)
Net cash provided (required) by financing activities (15,412) 354,866
CASH FLOWS FROM DISCONTINUED OPERATIONS    
Operating activities (85,445) 4,517
Investing activities 5,322 (9,092)
Changes in cash included in current assets held for sale 89,226  
Net decrease in cash and cash equivalents of discontinued operations 9,103 (4,575)
Effect of exchange rate changes on cash and cash equivalents 4,555 8,466
Net decrease in cash and cash equivalents (284,040) (89,069)
Cash and cash equivalents at January 1 1,193,308 [2] 750,155
Cash and cash equivalents at June 31 $ 909,268 $ 661,086
[1] Investments are Canadian government securities with maturities greater than 90 days at the date of acquisition.
[2] Reclassified to conform to current presentation.