XML 38 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net income (loss) $ 97,332 $ 34,657
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 153,847 78,932
Accretion of liability for asset retirement obligations 18,464 10,031
Unrealized loss (gain) on derivative contracts (822) 8,052
Non-cash compensation 5,358 3,493
Deferred income taxes 55,239 16,134
Exploration expenditures 3,764 4,097
Impairments 2,183 6,206
Amortization of deferred financing costs and discount on debt 4,016 1,516
Gain on sale of assets (28,601)  
Other 27,982 3,405
Changes in operating assets and liabilities:    
Trade accounts receivable (1,718) 5,171
Prepaid expenses (5,308) 4,062
Other assets (1,077) 362
Accounts payable and accrued expenses 15,345 14,149
Asset retirement obligation settlements (36,843) (27,647)
Net cash provided by (used in) operating activities 309,161 162,620
Cash flows provided by (used) in investing activities:    
Property acquisitions (26,979) (34,458)
Deposit for Hilcorp Acqusition   (55,000)
Exploration and development expenditures (252,125) (135,950)
Other property and equipment additions (1,517) (1,474)
Proceeds from sale of assets 52,237  
Net cash provided by (used in) investing activities (228,384) (226,882)
Cash flows provided by (used in) financing activities:    
Repayments of indebtedness (70,000)  
Deferred financing costs (670) (6)
Purchase of shares into treasury (9,640) (8,798)
Exercise of stock options 951 257
Net cash provided by (used in) financing activities (79,359) (8,547)
Net increase (decrease) in cash and cash equivalents 1,418 (72,809)
Cash and cash equivalents at beginning of period 1,521 80,128
Cash and cash equivalents at end of period $ 2,939 $ 7,319