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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities - cash provided by (used in):    
Net income for the period $ 97,780 $ 26,933
Adjustments to reconcile net income to cash provided by operating activities:    
Depletion, depreciation and amortization 107,422 102,282
Unrealized loss (gain) on commodity derivatives (82,527) 61,539
Deferred gain on sale of liquids gathering system   (5,276)
Stock compensation 1,521 10,122
Payable-in-kind (“PIK”) interest payable 6,722  
Amortization of premium on debt exchange (20,572)  
Amortization of deferred financing costs 6,308 5,510
Other 1,915 207
Net changes in operating assets and liabilities:    
Accounts receivable 86,645 17,738
Other current assets (636) 3,783
Other non-current assets 59 338
Accounts payable (1,449) (18,525)
Accrued liabilities (5,519) (4,116)
Production taxes payable (3,214) 3,696
Interest payable 6,052 (3,647)
Other long-term obligations 8,187 (1,647)
Income taxes payable/receivable 6,431 6,844
Net cash provided by operating activities 215,125 205,781
Investing Activities - cash provided by (used in):    
Oil and gas property expenditures (176,791) (250,966)
Change in capital cost accrual and accounts payable (2,743) (14,483)
Inventory 1,567 (4,140)
Purchase of capital assets (373) (2,389)
Net cash used in investing activities (178,340) (271,978)
Financing activities - cash provided by (used in):    
Deferred financing costs (488) (638)
Repurchased shares/net share settlements (71) (2,061)
Net cash used in financing activities (47,997) 55,301
(Decrease) increase in cash during the period (11,212) (10,896)
Cash, cash equivalents, and restricted cash, beginning of period 19,305 18,269
Cash, cash equivalents and restricted cash, end of period 8,093 7,373
Credit Agreement    
Financing activities - cash provided by (used in):    
Borrowings under Credit Agreement 431,000 450,000
Payments under Credit Agreement / Term Loan (476,000) $ (392,000)
Term Loan    
Financing activities - cash provided by (used in):    
Payments under Credit Agreement / Term Loan $ (2,438)