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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:        
Net income (loss) $ (89,252) $ 50,388 $ (501,147) $ (127,180)
Adjustments to reconcile net loss to net cash provided by operating activities        
Net gain on divestiture activity (91) (262) (91) (323)
Depletion, depreciation, amortization, and asset retirement obligation liability accretion 180,856 206,330 414,345 384,076
Impairment [1] 8,750 12,417 998,513 18,755
Stock-based compensation expense     11,273 11,992
Net derivative (gain) loss 167,200 (79,655) (378,140) 97,426
Derivative settlement gain (loss)     215,965 (879)
Amortization of debt discount and deferred financing costs     8,578 7,633
Gain on extinguishment of debt (227,281) 0 (239,476) 0
Deferred income taxes (36,921) 13,766 (136,268) (33,237)
Other, net     (3,827) (1,287)
Net change in working capital     (57,254) 21,454
Net cash provided by operating activities     332,471 378,430
Cash flows from investing activities:        
Net proceeds from the sale of oil and gas properties     92 12,520 [2]
Capital expenditures     (310,209) (576,127)
Other, net     0 319
Net cash used in investing activities     (310,117) (563,288)
Cash flows from financing activities:        
Proceeds from revolving credit facility     841,000 696,500
Repayment of revolving credit facility     (770,500) (578,500)
Debt issuance costs related to 10.0% Senior Secured Notes due 2025     (10,491) 0
Cash paid to repurchase 6.125% Senior Notes due 2022     (28,318) 0
Repayment of 1.50% Senior Convertible Notes due 2021     (53,508) 0
Net proceeds from sale of common stock     947 1,959
Dividends paid     (1,130) (5,612)
Other, net     (354) (1,044)
Net cash provided by (used in) financing activities     (22,354) 113,303
Net change in cash, cash equivalents, and restricted cash     0 (71,555)
Cash, cash equivalents, and restricted cash at beginning of period     10 77,965
Cash, cash equivalents, and restricted cash at end of period 10 6,410 10 6,410
Supplemental Cash Flow Information - Operating activities:        
Cash paid for interest, net of capitalized interest     (82,313) (67,646)
Supplemental Cash Flow Information - Investing activities:        
Decrease in capital expenditure accruals and other     (28,896) (10,097)
Supplemental Cash Flow Information - Supplemental non-cash investing activities:        
Carrying value of properties exchanged     0 66,588
Supplemental Cash Flow Information - Supplemental non-cash financing activities:        
Non-cash gain on extinguishment of debt, net     292,984 0
Cash and cash equivalents 10 12 10 12
Restricted Cash $ 0 $ 6,398 [2] $ 0 $ 6,398 [2]
[1] (2) Amounts may not calculate due to rounding.
[2] (1) As of June 30, 2019, a portion of net proceeds from the sale of oil and gas properties was restricted for future property acquisitions. Restricted cash is included in the other noncurrent assets line item on the accompanying unaudited condensed consolidated balance sheets (“accompanying balance sheets”).