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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating Activities    
Net loss $ (195,872) $ (88,275)
Adjustments to reconcile net loss to net cash provided by continuing operations activities:    
(Income) loss from discontinued operations (708) 2,819
Depreciation, depletion and amortization 541,388 884,417
Impairment of assets 95,088  
Amortization of deferred major repair costs 3,798 3,404
Dry hole costs 14,270 99,023
Amortization of undeveloped leases 25,419 45,825
Accretion of asset retirement obligations 24,471 23,519
Deferred and noncurrent income tax benefits (316,201) (194,240)
Pretax gains from disposition of assets (3,831) (154,123)
Net (increase) decrease in noncash operating working capital (86,793) [1] 107,171
Other operating activities, net 12,349 (14,329)
Net cash provided by continuing operations activities 113,378 715,211
Investing Activities    
Property additions and dry hole costs (604,587) (1,433,615)
Proceeds from sales of property, plant and equipment 1,153,325 423,106
Purchase of investment securities [2] (651,218) (629,763)
Proceeds from maturity of investment securities [2] 701,378 663,343
Other investing activities, net (7,640) (20,568)
Net cash provided (required) by investing activities 591,258 (997,497)
Financing Activities    
Borrowings of debt   823,000
Repayments of debt (600,000) (450,000)
Capital lease obligation payments (5,172) (4,703)
Purchase of treasury stock   (250,000)
Withholding tax on stock-based incentive awards (1,138) (8,976)
Cash dividends paid (120,535) (124,581)
Other financing activities, net   (152)
Net cash required by financing activities (726,845) (15,412)
Cash Flows from Discontinued Operations    
Operating activities 5,185 (85,445)
Investing activities   5,322
Changes in cash included in current assets held for sale (5,185) 89,226
Net increase in cash and cash equivalents of discontinued operations   9,103
Effect of exchange rate changes on cash and cash equivalents 6,509 4,555
Net decrease in cash and cash equivalents (15,700) (284,040)
Cash and cash equivalents at January 1 283,183 1,193,308
Cash and cash equivalents at June 30 $ 267,483 $ 909,268
[1] 2016 balance includes payments for deepwater rig contract exit of $261.8 million.
[2] Investments are Canadian government securities with maturities greater than 90 days at the date of acquisition.