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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating Activities    
Net loss $ (198,802) $ (14,441)
Adjustments to reconcile net income (loss) to net cash provided by continuing operations activities:    
Income (loss) from discontinued operations (683) 17,971
Depreciation, depletion and amortization 286,149 481,027
Impairment of assets 95,088  
Amortization of deferred major repair costs 2,002 2,108
Dry hole costs (69) 78,629
Amortization of undeveloped leases 10,469 21,606
Accretion of asset retirement obligations 12,125 11,769
Deferred and noncurrent income tax benefits (85,683) (184,186)
Pretax gains from disposition of assets (22) (135,877)
Net (increase) decrease in noncash operating working capital (104,347) [1] 258,807
Other operating activities, net 27,085 (3,569)
Net cash provided by continuing operations activities 43,312 533,844
Investing Activities    
Property additions and dry hole costs (210,029) (823,840)
Proceeds from sales of property, plant and equipment 33 417,242
Purchase of investment securities [2] (49,277) (265,739)
Proceeds from maturity of investment securities [2] 86,983 301,464
Other investing activities, net (21,658) (226)
Net cash required by investing activities (193,948) (371,099)
Financing Activities    
Borrowings of debt 371,000 155,000
Repayments of debt   (450,000)
Capital lease obligation payments (2,690) (2,471)
Withholding tax on stock-based incentive awards (1,052) (8,976)
Cash dividends paid (60,267) (62,287)
Other financing activities, net   (108)
Net cash provided (required) by financing activities 306,991 (368,842)
Cash Flows from Discontinued Operations    
Operating activities 2,312 (64,859)
Investing activities   46
Changes in cash included in current assets held for sale (2,312) 64,707
Net decrease in cash and cash equivalents of discontinued operations   (106)
Effect of exchange rate changes on cash and cash equivalents (16,475) (6,103)
Net increase (decrease) in cash and cash equivalents 139,880 (212,306)
Cash and cash equivalents at January 1 283,183 1,193,308
Cash and cash equivalents at March 31 $ 423,063 $ 981,002
[1] 2016 balance includes payments for deepwater rig contract exit of $253.2 million.
[2] Investments are Canadian government securities with maturities greater than 90 days at the date of acquisition.