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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net loss $ (160,843) $ (757,744) $ (447,710)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Net (gain) loss on divestiture activity 131,028 (37,074) (43,031)
Depletion, depreciation, amortization, and asset retirement obligation liability accretion 557,036 790,745 921,009
Exploratory dry hole expense 2,381 (16) 36,612
Impairment of proved properties 3,806 354,614 468,679
Abandonment and impairment of unproved properties 12,272 80,367 78,643
Impairment of other property and equipment 0 0 49,369
Stock-based compensation expense 22,700 26,897 27,467
Net derivative (gain) loss 26,414 250,633 (408,831)
Derivative settlement gain 21,234 329,478 512,566
Amortization of debt discount and deferred financing costs 16,276 9,938 7,710
(Gain) loss on extinguishment of debt 35 (15,722) 16,578
Deferred income taxes (192,066) (448,643) (276,722)
Plugging and abandonment (2,735) (6,214) (7,496)
Other, net 8,239 (3,701) (5,764)
Changes in current assets and liabilities:      
Accounts receivable 13,997 (10,562) 140,200
Prepaid expenses and other (1,953) 8,478 2,563
Accounts payable and accrued expenses 44,985 (53,210) (86,267)
Accrued derivative settlements 12,584 34,540 5,232
Net cash provided by operating activities 515,390 552,804 990,807
Cash flows from investing activities:      
Net proceeds from the sale of oil and gas properties 776,719 946,062 357,938
Capital expenditures (888,353) (629,911) (1,493,608)
Acquisition of proved and unproved oil and gas properties (89,896) (2,183,790) (7,984)
Other, net 0 0 (985)
Net cash used in investing activities (201,530) (1,867,639) (1,144,639)
Cash flows from financing activities:      
Proceeds from credit facility 406,000 947,000 1,872,500
Repayment of credit facility (406,000) (1,149,000) (1,836,500)
Debt issuance costs related to credit facility 0 (3,132) 0
Net proceeds from Senior Notes 0 491,640 490,951
Cash paid to repurchase Senior Notes (2,344) (29,904) (350,000)
Cash paid for extinguishment of debt 13 0 12,455
Net proceeds from Senior Convertible Notes 0 166,617 0
Cash paid for capped call transactions 0 (24,195) 0
Net proceeds from sale of common stock 2,623 938,268 4,844
Dividends paid (11,144) (7,751) (6,772)
Net share settlement from issuance of stock awards (1,240) (2,354) (8,678)
Other, net (171) 0 (160)
Net cash provided by (used in) financing activities (12,289) 1,327,189 153,730
Net change in cash, cash equivalents, and restricted cash [1] 301,571 12,354 (102)
Cash, cash equivalents, and restricted cash at beginning of period [1] 12,372 18 120
Cash, cash equivalents, and restricted cash at end of period [1] 313,943 12,372 18
Supplemental schedule of additional cash flow information and non-cash activities:      
Cash paid for interest, net of capitalized interest (164,097) (129,761) (126,988)
Net cash (refunded) paid for income taxes 5,986 (4,690) 1,630
Changes in capital expenditure accruals and other 7,309 8,044 (210,819)
Carrying value of properties exchanged 293,963 733 0
Issuance of common stock for an asset acquisition [2] 0 437,194 0
Non-cash (gain) loss on extinguishment of debt, net $ 22 $ (15,722) $ 4,123
[1] (1) Refer to Note 1 – Summary of Significant Accounting Policies for a reconciliation of cash, cash equivalents, and restricted cash reported to the amounts reported within the accompanying balance sheets.
[2] Refer to Note 3 – Divestitures, Assets Held for Sale, and Acquisitions and Note 13 – Equity for additional discussion.