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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ (113,891) $ 104,468 $ 279,773
Adjustments to reconcile net income (loss) to cash provided by operating activities:      
Depreciation, depletion and amortization 622,211 632,760 651,052
Impairment of oil and gas properties 114,875 771,037 0
Deferred income tax expense (benefit) (72,968) (112,567) 138,380
(Gain) loss on sale of assets (3,866) (17,120) (21,351)
Exploratory dry hole cost 3,452 7,907 808
(Gain) loss on derivative instruments (56,686) (219,319) 0
Net cash received (paid) in settlement of derivative instruments 194,289 81,716 0
Earnings of equity method investments (6,415) (3,080) (1,102)
Amortization of debt issuance costs 4,454 4,754 3,693
Stock-based compensation and other 13,645 21,429 46,965
Changes in assets and liabilities:      
Accounts receivable, net 112,406 (11,689) (49,398)
Income taxes (711) (34,282) 29,002
Inventories (3,023) 3,441 (3,033)
Other current assets (817) 733 (428)
Accounts payable and accrued liabilities (64,533) 2,883 (22,908)
Other assets and liabilities (1,685) 1,989 (8,014)
Stock-based compensation tax benefit 0 1,375 (18,913)
Net cash provided by operating activities 740,737 1,236,435 1,024,526
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (955,602) (1,479,632) (1,194,739)
Acquisitions (16,312) (214,737) 0
Proceeds from sale of assets 7,653 39,492 323,501
Restricted cash 0 28,094 (28,094)
Investment in equity method investments (29,073) (38,057) (18,875)
Net cash used in investing activities (993,334) (1,664,840) (918,207)
CASH FLOWS FROM FINANCING ACTIVITIES      
Borrowings from debt 877,000 2,032,000 955,000
Repayments of debt (604,000) (1,427,000) (895,000)
Treasury stock repurchases 0 (138,852) (164,634)
Dividends paid (33,090) (33,278) (25,232)
Stock-based compensation tax benefit 0 (1,375) 18,913
Capitalized debt issuance costs (7,838) (5,626) (2,750)
Other 85 90 48
Net cash provided by (used in) financing activities 232,157 425,959 (113,655)
Net decrease in cash and cash equivalents (20,440) (2,446) (7,336)
Cash and cash equivalents, beginning of period 20,954 23,400 30,736
Cash and cash equivalents, end of period $ 514 $ 20,954 $ 23,400