XML 74 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income (loss) $ 12,185 $ (39,245)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Depreciation, depletion, and amortization 8,256 6,351
Loss on termination of financing agreements 19,229 0
Non-cash interest expense 9,488 4,877
Change in value of common stock warrants 1,709 (1,717)
Change in value of contingent consideration 14,424 (4,762)
Deferred taxes (18,542) (79)
Stock-based compensation 2,976 1,610
Unrealized loss on derivative contracts 426 191
Equity (earnings) losses from Piceance Energy, LLC 4,776 (539)
Net changes in operating assets and liabilities:    
Trade accounts receivable 52,989 19,914
Prepaid and other assets (4,704) (50,575)
Inventories (22,257) (28,748)
Obligations under inventory financing agreements 45,711 5,478
Accounts payable and other accrued liabilities (28,055) 14,064
Net cash provided by (used in) operating activities 98,611 (73,180)
Cash flows from investing activities    
Acquisition of Koko'oha Investments, LLC, net of cash acquired (63,269) (10,000)
Capital expenditures (9,873) (5,909)
Payment for working capital settlement on HIE acquisition 0 (582)
Investment in Piceance Energy, LLC (27,529) 0
Net cash used in investing activities (100,671) (16,491)
Cash flows from financing activities    
Proceeds from sale of common stock 300 0
Proceeds from borrowings 90,900 197,537
Repayments of borrowings (107,558) (173,905)
Net repayments on deferred payment arrangement (770) 0
Payment of deferred loan costs (5,872) (1,136)
Purchase of common stock for retirement 0 (287)
Proceeds from inventory financing agreements 287,658 47,200
Payments for termination of supply and exchange agreements (273,605) 0
Restricted cash released 0 52
Net cash provided by (used in) financing activities (8,947) 69,461
Net decrease in cash and cash equivalents (11,007) (20,210)
Cash at beginning of period 89,210 38,061
Cash at end of period 78,203 17,851
Supplemental cash flow information    
Cash received (paid) for interest (1,224) (2,027)
Cash received (paid) for taxes 262 235
Non-cash investing and financing activities    
Accrued capital expenditures $ 1,687 $ 1,379