XML 19 R9.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (28,777) $ (106,413)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion, amortization and impairment 116,938 152,882
Dry holes and abandonments 117 147
Deferred income tax expense (benefit) 404 (20,973)
Stock-based compensation expense 4,642 5,891
Net gain on asset disposals (1,113) (840)
Amortization of debt discount and issuance costs 207 205
Changes in operating assets and liabilities:    
Accounts receivable (21,252) (20,877)
Income taxes receivable/payable 442 4,273
Inventory and other assets 3,372 (2,825)
Accounts payable 13,958 9,383
Accrued liabilities (56,199) (10,882)
Other liabilities 935 (1,349)
Net cash provided by operating activities 33,674 8,622
Cash flows from investing activities:    
Purchases of property and equipment (94,828) (18,523)
Proceeds from disposal of assets 3,576 2,713
Other (2,116) (105)
Net cash used in investing activities (93,368) (15,915)
Cash flows from financing activities:    
Purchases of treasury stock (13)
Dividends paid (8,611) (3,754)
Net cash used in financing activities (8,624) (3,754)
Effect of foreign exchange rate changes on cash (942) 276
Net decrease in cash and cash equivalents (69,260) (10,771)
Cash and cash equivalents at beginning of period 117,524 224,915
Cash and cash equivalents at end of period 48,264 214,144
Net cash received (paid) during the period for:    
Interest, net of capitalized interest of $146 in 2022 and $24 in 2021 (10,574) (10,232)
Income taxes (148) 4,256
Non-cash investing and financing activities:    
Net increase in payables for purchases of property and equipment 2,866 161
Net increase in deposits on equipment purchases $ (6,046) $ (242)