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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income (loss) $ (187,547) $ 18,964
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Accretion of discount on available- for- sale debt securities (34) (32)
Accretion of discount on senior notes 45  
Amortization of deferred offering costs 607 113
Depreciation, depletion, amortization and impairment 211,313 20,889
Change in fair value of derivative financial instruments 4,474 (617)
Stock option expense 1,677 1,069
Gain on debt extinguishment (14,407)  
Deferred tax (benefit) 8 (14)
Change in assets and liabilities:    
Decrease in accounts receivable-trade 11,640 6,767
Increase in other assets (1,500) (510)
Decrease in accounts payable and accruals (12,851) (7,018)
Decrease in other long-term liabilities (431) (260)
Net cash provided by operating activities 12,994 39,351
Cash flows from investing activities:    
Purchase, exploration and development of oil and gas properties (29,330) (35,312)
Purchase of property and equipment (490) (982)
Net cash used in investing activities (29,820) (36,294)
Cash flows from financing activities:    
Proceeds from Credit Facility 189,559 14,500
Payments on debt and debentures (158,748) (27,525)
Payments on taxes of vested restricted stock and proceeds from the exercise of options (329) 102
Net cash provided by (used in) financing activities 30,482 (12,923)
Net increase (decrease) in cash and cash equivalents 13,656 (9,866)
Cash and cash equivalents at beginning of period 1,703 11,620
Cash and cash equivalents at end of period 15,359 1,754
Supplemental disclosure of cash flow information    
Cash paid for interest, net of amounts capitalized 15,185 1,335
Noncash investing and financing activities    
Accrued preferred stock dividend 5 $ 5
Exchange of Senior Notes for First Lien debt $ 47,164