XML 23 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
CASH PROVIDED BY OPERATIONS:      
Net earnings $ 22,931 $ 8,631 $ 4,149
Adjustments to reconcile net earnings to net cash from operating activities-      
Depreciation, depletion and amortization 16,260 11,817 10,320
Property sale (gains) losses (4,394) 94 (177)
Dry hole costs incurred 1,212 1,894 661
Impairment of oil and natural gas properties 14,749 2,224 3,773
Provision for doubtful accounts 1,141 29 430
Deferred income taxes 7,308 3,699 1,072
Net change in fair value contracts (97) (1,036) 251
Decrease (increase) in accounts receivable (45,487) (34,257) (36,515)
Decrease (increase) in inventories (5,598) 669 (1,053)
Decrease (increase) in income tax receivable 1,836 (145) 1,458
Decrease (increase) in prepayments (2,547) 2,700 (5,580)
Increase (decrease) in accounts payable 47,662 40,521 43,069
Increase (decrease) in accrued and other liabilities 1,378 (406) (58)
Other changes, net (539) 494 485
Net cash provided by operating activities 55,815 36,928 22,285
INVESTING ACTIVITIES:      
Property and equipment additions (53,276) (22,421) (22,390)
Insurance and state collateral (deposits) refunds (495) (151) (192)
Proceeds from property sales 8,394 147 1,004
Redemption of short-term investments 11,098 0 0
Investment in short-term investments (11,098) 0 0
Net cash (used in) investing activities (45,377) (22,425) (21,578)
FINANCING ACTIVITIES:      
Dividend payments (2,404) (2,277) (2,109)
Net cash (used in) financing activities (2,404) (2,277) (2,109)
Increase (decrease) in cash and cash equivalents 8,034 12,226 (1,402)
Cash and cash equivalents at beginning of year 29,032 16,806 18,208
Cash and cash equivalents at end of year $ 37,066 $ 29,032 $ 16,806