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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Net income (loss) $ 774,473 $ 989,700 $ 789,447
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation, depletion, amortization and accretion 2,019,704 1,859,118 1,670,838
Property impairments 86,202 125,210 237,370
Non-cash (gain) loss on derivatives, net 15,612 (13,009) (58,031)
Stock-based compensation 52,044 47,236 45,868
Tax benefit from US tax reform legislation 0 0 (713,655)
Provision for deferred income taxes from operations 212,689 314,878 88,056
Litigation settlement 0 0 59,600
Net gain on sale of assets and other (535) (16,671) (55,124)
Loss on extinguishment of debt 4,584 7,133 554
Other, net 10,408 16,705 12,768
Changes in assets and liabilities:      
Accounts receivable (33,619) 94,765 (329,811)
Inventories (21,204) 7,735 14,517
Other current assets (4,459) (3,539) 1,038
Accounts payable trade (36,359) 9,274 137,339
Revenues and royalties payable 69,195 24,010 158,982
Accrued liabilities and other (36,467) (4,162) 21,368
Other noncurrent assets and liabilities 3,420 (2,375) (2,018)
Net cash provided by operating activities 3,115,688 3,456,008 2,079,106
Cash flows from investing activities:      
Exploration and development (2,783,149) (2,840,880) (1,931,942)
Purchase of producing crude oil and natural gas properties (51,558) (31,579) (8,446)
Purchase of other property and equipment (25,983) (42,171) (12,810)
Proceeds from sale of assets 88,734 54,458 144,353
Net cash used in investing activities (2,771,956) (2,860,172) (1,808,845)
Cash flows from financing activities:      
Credit facility borrowings 1,216,000 2,024,000 1,302,000
Repayment of credit facility (1,161,000) (2,212,000) (2,019,000)
Proceeds from issuance of Senior Notes 0 0 990,000
Redemption of Senior Notes (500,000) (400,000) 0
Premium on redemption of Senior Notes (4,167) (6,700) 0
Repayment of other debt (2,352) (2,286) (502,214)
Debt issuance costs 0 (5,535) (1,999)
Equity transaction costs 0 (4,838) 0
Contributions from noncontrolling interests 109,137 267,920 0
Distributions to noncontrolling interests (14,164) (604) 0
Payments for Repurchase of Common Stock (190,239) 0 0
Repurchase of restricted stock for tax withholdings (21,943) (16,891) (11,821)
Dividends paid on common stock (18,380) 0 0
Net cash used in financing activities (587,108) (356,934) (243,034)
Effect of exchange rate on cash and cash equivalents 27 (55) 32
Net change in cash and cash equivalents (243,349) 238,847 27,259
Cash and cash equivalents at beginning of period 282,749 43,902 16,643
Cash and cash equivalents at end of period $ 39,400 $ 282,749 $ 43,902