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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income (loss) $ (373,609) $ 22,690
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Accretion of discount on available-for-sale debt securities (53) (48)
Accretion of discount on high yield   72
Accretion of discount on Senior Notes 144  
Amortization of deferred offering costs 1,107 946
Depreciation, depletion, amortization and impairment 405,375 36,733
Change in fair value of derivative financial instruments (3,525) (4,305)
Stock option expense 2,109 1,727
Gain on debt extinguishment (14,407)  
Deferred tax (benefit)   (10)
Change in assets and liabilities:    
Decrease (increase) in accounts receivable-trade 4,321 (1,481)
Decrease (increase) in other assets (1,265) 656
Decrease (increase) in accounts payable and accruals (12,957) 5,466
Decrease in other long-term liabilities (956) (4,088)
Net cash provided by operating activities 6,284 58,358
Cash flows from investing activities:    
Purchase, exploration and development of oil and gas properties (28,818) (374,376)
Purchase of property and equipment (150) (1,592)
Net cash used in investing activities (28,968) (375,968)
Cash flows from financing activities:    
Proceeds from Credit Facility 189,559 371,599
Payments on debt and debentures (158,748) (63,238)
Payments on taxes of vested restricted stock and proceeds from the exercise of options (329) (594)
Net cash provided by financing activities 30,482 307,767
Net increase (decrease) in cash and cash equivalents 7,798 (9,843)
Cash and cash equivalents at beginning of period 1,703 11,620
Cash and cash equivalents at end of period 9,501 1,777
Supplemental disclosure of cash flow information    
Cash paid for interest, net of amounts capitalized 13,176 4,241
Noncash investing and financing activities    
Accrued preferred stock dividend 7 $ 8
Exchange of Senior Notes for First Lien debt $ 47,164