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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net loss including noncontrolling interest $ (266,824) $ (508,702)
Adjustments to reconcile net loss to net cash provided by continuing operations activities    
(Income) loss from discontinued operations (208) 4,862
Depreciation, depletion and amortization 198,278 306,102
Previously suspended exploration costs 717 97
Amortization of undeveloped leases 4,602 7,478
Accretion of asset retirement obligations 10,492 9,966
Impairment of assets 171,296 967,530
Deferred income tax benefit (88,867) (81,373)
Mark to market loss (gain) on contingent consideration 14,923 (59,151)
Mark to market loss (gain) on crude contracts 153,505 (358,302)
Long-term non-cash compensation 12,124 9,805
Net (increase) decrease in noncash working capital (9,052) 107,827
Other operating activities, net 36,780 (13,482)
Net cash provided by continuing operations activities 237,766 392,657
Investing Activities    
Property additions and dry hole costs (240,545) (354,834)
Property additions for King's Quay FPS (17,734) (21,296)
Proceeds from sales of property, plant and equipment 268,023 0
Net cash provided (required) by investing activities 9,744 (376,130)
Financing Activities    
Borrowings on revolving credit facility 140,000 170,000
Repayment of revolving credit facility (340,000) 0
Retirement of debt (576,358) (3,570)
Debt issuance, net of cost 541,980 (613)
Early redemption of debt cost (34,177) 0
Distributions to noncontrolling interest (36,006) (32,399)
Cash dividends paid (19,287) (38,392)
Withholding tax on stock-based incentive awards (3,794) (7,094)
Capital lease obligation payments (178) (168)
Net cash (required) provided by financing activities (327,820) 87,764
Cash Flows from Discontinued Operations    
Operating activities [1] 0 (1,202)
Investing activities [1] 0 4,494
Net cash provided by discontinued operations [1] 0 3,292
Effect of exchange rate changes on cash and cash equivalents 574 (3,298)
Net (decrease) increase in cash and cash equivalents (79,736) 100,993
Cash and cash equivalents at beginning of period 310,606 306,760
Cash and cash equivalents at end of period $ 230,870 $ 407,753
[1] Net cash provided by discontinued operations is not part of the cash flow reconciliation. See Notes to Consolidated Financial Statements, page 7.