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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
OPERATING ACTIVITIES    
Net loss $ (212,048) $ (1,683,701)
Adjustments to reconcile net loss to net cash provided by continuing operations activities:    
Loss from discontinued operations 885 11,163
Depreciation, depletion and amortization 797,288 1,318,123
Impairment of assets 95,088 2,300,974
Amortization of deferred major repair costs 3,794 5,450
Dry hole costs 15,226 120,459
Amortization of undeveloped leases 35,828 62,331
Accretion of asset retirement obligations 35,514 35,437
Deferred and noncurrent income tax benefits (345,157) (975,120)
Pretax gains from disposition of assets (3,101) (154,183)
Net (increase) decrease in noncash operating working capital (152,618) [1] 97,026
Other operating activities, net 9,651 (41,431)
Net cash provided by continuing operations activities 280,350 1,096,528
INVESTING ACTIVITIES    
Property additions and dry hole costs (781,668) [2] (1,975,069)
Proceeds from sales of property, plant and equipment 1,154,623 423,842
Purchase of investment securities [3] (651,218) (865,251)
Proceeds from maturity of investment securities [3] 712,863 852,394
Other investing activities, net (7,229) (19,538)
Net cash provided (required) by investing activities 427,371 (1,583,622)
FINANCING ACTIVITIES    
Borrowings of debt 541,444 885,000
Repayments of debt (600,000) (450,000)
Capital lease obligation payments (7,808) (7,156)
Purchase of treasury stock   (250,000)
Withholding tax on stock-based incentive awards (1,138) (8,976)
Issue cost of debt facility (13,971)  
Cash dividends paid (163,586) (184,789)
Other financing activities, net (20) (153)
Net cash required by financing activities (245,079) (16,074)
CASH FLOWS FROM DISCONTINUED OPERATIONS    
Operating activities 2,830 (4,866)
Investing activities   5,343
Changes in cash included in current assets held for sale (2,830) 179,774
Net increase in cash and cash equivalents of discontinued operations   180,251
Effect of exchange rate changes on cash and cash equivalents 7,268 8,276
Net increase (decrease) in cash and cash equivalents 469,910 (314,641)
Cash and cash equivalents at January 1 283,183 1,193,308
Cash and cash equivalents at September 30 $ 753,093 $ 878,667
[1] 2016 balance includes payments for deepwater rig contract exit of $266.6 million.
[2] Includes costs of $206.7 million associated with acquisition of Kaybob Duvernay and Placid Montney.
[3] Investments are Canadian government securities with maturities greater than 90 days at the date of acquisition.