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Condensed Consolidating Financial Information (Tables)
 12 Months Ended
Dec. 31, 2013
Condensed Consolidating Financial Information [Abstract]  
Condensed Consolidating Statements of Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Parent

 

Former
Guarantors

 

Other
Subsidiaries

 

Eliminations

 

Consolidated

 

 

(in thousands)

Year ended December 31, 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

–  

 

$
2,556,634 

 

$
476,997 

 

$
(303,638)

 

$
2,729,993 

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas purchases

 

 

–  

 

 
593,091 

 

 

–  

 

 
(625)

 

 
592,466 

Operating expenses

 

 

–  

 

 
423,147 

 

 
121,953 

 

 
(300,365)

 

 
244,735 

General and administrative expenses

 

 

–  

 

 
151,488 

 

 
26,307 

 

 
(2,648)

 

 
175,147 

Depreciation, depletion and amortization

 

 

–  

 

 
765,623 

 

 
45,330 

 

 

–  

 

 
810,953 

Impairment of natural gas and oil

  properties

 

 

–  

 

 
1,939,734 

 

 

–  

 

 

–  

 

 
1,939,734 

Taxes, other than income taxes

 

 

–  

 

 
56,262 

 

 
11,321 

 

 
1 

 

 
67,584 

Total operating costs and expenses

 

 

–  

 

 
3,929,345 

 

 
204,911 

 

 
(303,637)

 

 
3,830,619 

Operating income (loss)

 

 

–  

 

 
(1,372,711)

 

 
272,086 

 

 
(1)

 

 
(1,100,626)

Other income (loss), net

 

 

–  

 

 
(1,143)

 

 
2,173 

 

 

–  

 

 
1,030 

Gain (loss) on derivatives

 

 

–  

 

 
(14,950)

 

 

–  

 

 

–  

 

 
(14,950)

Equity in earnings of subsidiaries

 

 
(707,064)

 

 

–  

 

 

–  

 

 
707,064 

 

 

–  

Interest expense

 

 

–  

 

 
22,312 

 

 
13,345 

 

 

–  

 

 
35,657 

Income (loss) before income taxes

 

 
(707,064)

 

 
(1,411,116)

 

 
260,914 

 

 
707,063 

 

 
(1,150,203)

Provision (benefit) for income taxes

 

 

–  

 

 
(538,357)

 

 
95,218 

 

 

–  

 

 
(443,139)

Net income (loss)

 

 
(707,064)

 

 
(872,759)

 

 
165,696 

 

 
707,063 

 

 
(707,064)

Comprehensive income (loss)

 

$
(965,688)

 

$
(1,125,454)

 

$
166,225 

 

$
959,229 

 

$
(965,688)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2011:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

–  

 

$
2,801,811 

 

$
411,998 

 

$
(262,477)

 

$
2,951,332 

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas purchases

 

 

–  

 

 
710,487 

 

 

–  

 

 
(1,396)

 

 
709,091 

Operating expenses

 

 

–  

 

 
380,154 

 

 
118,713 

 

 
(257,923)

 

 
240,944 

General and administrative expenses

 

 

–  

 

 
141,499 

 

 
19,700 

 

 
(3,158)

 

 
158,041 

Depreciation, depletion and amortization

 

 

–  

 

 
665,615 

 

 
38,896 

 

 

–  

 

 
704,511 

Taxes, other than income taxes

 

 

–  

 

 
53,950 

 

 
11,568 

 

 

–  

 

 
65,518 

Total operating costs and expenses

 

 

–  

 

 
1,951,705 

 

 
188,877 

 

 
(262,477)

 

 
1,878,105 

Operating income

 

 

–  

 

 
850,106 

 

 
223,121 

 

 

–  

 

 
1,073,227 

Other income (loss), net

 

 

–  

 

 
306 

 

 
(42)

 

 

–  

 

 
264 

Gain (loss) on derivatives

 

 

–  

 

 
1,574 

 

 

–  

 

 

–  

 

 
1,574 

Equity in earnings of subsidiaries

 

 
637,769 

 

 

–  

 

 

–  

 

 
(637,769)

 

 

–  

Interest expense

 

 

–  

 

 
11,277 

 

 
12,798 

 

 

–  

 

 
24,075 

Income (loss) before income taxes

 

 
637,769 

 

 
840,709 

 

 
210,281 

 

 
(637,769)

 

 
1,050,990 

Provision for income taxes

 

 

–  

 

 
332,795 

 

 
80,426 

 

 

–  

 

 
413,221 

Net income (loss)

 

 
637,769 

 

 
507,914 

 

 
129,855 

 

 
(637,769)

 

 
637,769 

Comprehensive income (loss)

 

$
962,222 

 

$
836,291 

 

$
129,294 

 

$
(965,585)

 

$
962,222 

 

Condensed Consolidating Statements of Cash Flows

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Parent

 

Former
Guarantors

 

Other
Subsidiaries

 

Eliminations

 

Consolidated

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash provided by operating activities

 

$
(39,934)

 

$
1,278,673 

 

$
415,203 

 

$

–  

 

$
1,653,942 

Investing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital investments

 

 
(36,918)

 

 
(1,868,487)

 

 
(202,350)

 

 

–  

 

 
(2,107,755)

Proceeds from sale of property and equipment

 

 
26,006 

 

 
169,149 

 

 
5,946 

 

 

–  

 

 
201,101 

Transfers to restricted cash

 

 
(167,788)

 

 

–  

 

 

–  

 

 

–  

 

 
(167,788)

Transfers from restricted cash

 

 
159,245 

 

 
1 

 

 

–  

 

 

–  

 

 
159,246 

Other

 

 
(696)

 

 
(35,792)

 

 
45,007 

 

 

–  

 

 
8,519 

Net cash used in investing activities

 

 
(20,151)

 

 
(1,735,129)

 

 
(151,397)

 

 

–  

 

 
(1,906,677)

Financing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intercompany activities

 

 
(198,023)

 

 
462,443 

 

 
(264,420)

 

 

–  

 

 

–  

Payments on current portion of long-term debt

 

 
(1,200)

 

 

–  

 

 

–  

 

 

–  

 

 
(1,200)

Payments on revolving long-term debt

 

 
(2,263,900)

 

 

–  

 

 

–  

 

 

–  

 

 
(2,263,900)

Borrowings under revolving long-term debt

 

 
1,592,400 

 

 

–  

 

 

–  

 

 

–  

 

 
1,592,400 

Proceeds from issuance of long-term debt

 

 
998,780 

 

 

–  

 

 

–  

 

 

–  

 

 
998,780 

Other

 

 
(35,192)

 

 
1 

 

 

–  

 

 

–  

 

 
(35,191)

Net cash provided by (used in) financing activities

 

 
92,865 

 

 
462,444 

 

 
(264,420)

 

 

–  

 

 
290,889 

Effect of exchange rate changes on cash

 

 

–  

 

 

–  

 

 
(198)

 

 

–  

 

 
(198)

Increase (decrease) in cash and cash equivalents

 

 
32,780 

 

 
5,988 

 

 
(812)

 

 

–  

 

 
37,956 

Cash and cash equivalents at beginning of year

 

 
14,711 

 

 

–  

 

 
916 

 

 

–  

 

 
15,627 

Cash and cash equivalents at end of period

 

$
47,491 

 

$
5,988 

 

$
104 

 

$

–  

 

$
53,583 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2011:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash provided by operating activities

 

$
14,688 

 

$
1,482,853 

 

$
242,276 

 

$

–  

 

$
1,739,817 

Investing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital investments

 

 
(66,647)

 

 
(1,916,246)

 

 
(201,581)

 

 

–  

 

 
(2,184,474)

Proceeds from sale of property and equipment

 

 

–  

 

 
154,261 

 

 
265 

 

 

–  

 

 
154,526 

Transfers to restricted cash

 

 
(85,055)

 

 

–  

 

 

–  

 

 

–  

 

 
(85,055)

Transfers from restricted cash

 

 
85,055 

 

 

–  

 

 

–  

 

 

–  

 

 
85,055 

Other

 

 
16,263 

 

 
(43,961)

 

 
32,856 

 

 

–  

 

 
5,158 

Net cash used in investing activities

 

 
(50,384)

 

 
(1,805,946)

 

 
(168,460)

 

 

–  

 

 
(2,024,790)

Financing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intercompany activities

 

 
(242,277)

 

 
315,462 

 

 
(73,185)

 

 

–  

 

 

–  

Payments on current portion of long-term debt

 

 
(1,200)

 

 

–  

 

 

–  

 

 

–  

 

 
(1,200)

Payments on revolving long-term debt

 

 
(3,445,900)

 

 

–  

 

 

–  

 

 

–  

 

 
(3,445,900)

Borrowings under revolving long-term debt

 

 
3,696,200 

 

 

–  

 

 

–  

 

 

–  

 

 
3,696,200 

Other

 

 
35,203 

 

 

–  

 

 

–  

 

 

–  

 

 
35,203 

Net cash provided by financing activities

 

 
42,026 

 

 
315,462 

 

 
(73,185)

 

 

–  

 

 
284,303 

Effect of exchange rate changes on cash

 

 

–  

 

 

–  

 

 
242 

 

 

–  

 

 
242 

Increase (decrease) in cash and cash equivalents

 

 
6,330 

 

 
(7,631)

 

 
873 

 

 

–  

 

 
(428)

Cash and cash equivalents at beginning of year

 

 
8,381 

 

 
7,631 

 

 
43 

 

 

–  

 

 
16,055 

Cash and cash equivalents at end of period

 

$
14,711 

 

$

–  

 

$
916 

 

$

–  

 

$
15,627