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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net (loss) including noncontrolling interest $ (293,864) $ (833,102)
Adjustments to reconcile net loss to net cash provided (required) by continuing operations activities    
Loss (income) from discontinued operations (106) 6,129
Depreciation, depletion and amortization 425,566 537,548
Previously suspended exploration costs 633 7,677
Amortization of undeveloped leases 8,882 14,770
Accretion of asset retirement obligations 22,656 20,435
Impairment of assets 171,296 987,146
Noncash restructuring expense 0 17,565
Deferred income tax benefit (101,195) (167,902)
Mark to market loss (gain) on contingent consideration 76,677 (43,529)
Mark to market loss (gain) on crude contracts 284,360 (173,848)
Long-term non-cash compensation 25,318 22,760
Net (increase) decrease in noncash working capital 26,565 1,335
Other operating activities, net 39,494 (27,605)
Net cash provided by continuing operations activities 686,282 369,379
Investing Activities    
Property additions and dry hole costs (445,314) (537,601)
Property additions for King's Quay FPS (17,734) (51,635)
Proceeds from sales of property, plant and equipment 269,363 0
Net cash (required) by investing activities (193,685) (589,236)
Financing Activities    
Borrowings on revolving credit facility 165,000 370,000
Repayment of revolving credit facility (365,000) (200,000)
Retirement of debt (576,358) (12,225)
Debt issuance, net of cost 541,974 (613)
Early redemption of debt cost (34,177) 0
Distributions to noncontrolling interest (75,238) (32,400)
Cash dividends paid (38,590) (57,590)
Withholding tax on stock-based incentive awards (3,895) (7,247)
Proceeds from term loan and other loans 0 371
Capital lease obligation payments (371) (336)
Net cash (required) provided by financing activities (386,655) 59,960
Cash Flows from Discontinued Operations    
Operating activities [1] 0 (1,202)
Investing activities [1] 0 4,494
Financing activities [1] 0 0
Net cash provided by discontinued operations [1] 0 3,292
Effect of exchange rate changes on cash and cash equivalents 1,552 (1,358)
Net increase (decrease) in cash and cash equivalents 107,494 (161,255)
Cash and cash equivalents at beginning of period 310,606 306,760
Cash and cash equivalents at end of period $ 418,100 $ 145,505
[1] Net cash provided by discontinued operations is not part of the cash flow reconciliation. See Notes to Consolidated Financial Statements, page 7.