XML 38 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Unaudited Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities    
Net income $ 463,897 $ 474,778
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 448,639 314,367
Property impairments 119,793 65,778
Change in fair value of derivatives (125,787) (349,652)
Stock-based compensation 18,998 13,305
Provision for deferred income taxes 266,618 290,738
Dry hole costs 8,063 98
(Gain) loss on sale of assets, net 213 (67,024)
Other, net 2,466 2,275
Changes in assets and liabilities:    
Accounts receivable (100,542) 18,375
Inventories 4,658 (10,212)
Prepaid expenses and other (6,526) 2,952
Accounts payable trade 21,678 (21,661)
Revenues and royalties payable 12,920 4,477
Accrued liabilities and other 16,018 32,241
Other noncurrent assets and liabilities 5,839 (5)
Net cash provided by operating activities 1,156,945 770,830
Cash flows from investing activities    
Exploration and development (1,823,215) (1,778,808)
Purchase of producing crude oil and natural gas properties (9,311) (63,263)
Purchase of other property and equipment (18,545) (32,230)
Proceeds from sale of assets 894 100,809
Net cash used in investing activities (1,850,177) (1,773,492)
Cash flows from financing activities    
Revolving credit facility borrowings 440,000 1,239,000
Repayment of revolving credit facility (1,035,000) (1,060,000)
Proceeds from issuance of Senior Notes 1,479,375 787,000
Proceeds from other debt 0 22,000
Repayment of other debt (969) (628)
Debt issuance costs (2,231) (4,083)
Repurchase of equity grants (3,259) (5,094)
Exercise of stock options 0 60
Net cash provided by financing activities 877,916 978,255
Net change in cash and cash equivalents 184,684 (24,407)
Cash and cash equivalents at beginning of period 35,729 53,544
Cash and cash equivalents at end of period $ 220,413 $ 29,137