XML 29 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net income $ 115,882 $ 105,180
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 255,497 260,982
Accretion expense 25,012 24,926
Deferred income tax provision 77,001 59,573
Settlement of asset retirement obligations (61,178) (47,211)
Non-cash stock compensation expense 7,583 6,800
Excess tax benefits (156) (882)
Non-cash derivative expense (income) 1,626 (584)
Non-cash interest expense 12,384 9,068
Other non-cash expense   16
Change in current income taxes (704) (3,240)
Increase in accounts receivable (22,277) (15,832)
(Increase) decrease in other current assets 2,187 (2,456)
Decrease in inventory 158 136
Increase in accounts payable 8,035 6,116
Increase (decrease) in other current liabilities 20,251 (24,301)
Other (1,791) (4,378)
Net cash provided by (used in) operating activities 439,510 373,913
Cash flows from investing activities:    
Investment in oil and gas properties (472,304) (445,311)
Proceeds from sale of oil and gas properties, net of expenses 6,300 403
Sale of fixed assets   134
Investment in fixed and other assets (3,830) (3,998)
Change in restricted funds (2,394)  
Net cash used in investing activities (472,228) (448,772)
Cash flows from financing activities:    
Proceeds from bank borrowings   25,000
Repayments of bank borrowings   (70,000)
Proceeds from issuance of senior convertible notes   300,000
Deferred financing costs of senior convertible notes   (8,855)
Proceeds from sold warrants   40,170
Payments for purchased call options   (70,830)
Deferred financing costs (11)  
Excess tax benefits 156 882
Net payments for share-based compensation (3,733) (3,773)
Net cash (used in) provided by financing activities (3,588) 212,594
Effect of exchange rate changes on cash (145)  
Net change in cash and cash equivalents (36,451) 137,735
Cash and cash equivalents, beginning of period 279,526 38,451
Cash and cash equivalents, end of period $ 243,075 $ 176,186