Statement of Cash Flows

12 Months Ended

Dec. 31, 2015

11.Statement of Cash Flows

The Company paid $60.1 million, $96.7 million and $76.7 million for interest during the years ended December 31, 2015, 2014 and 2013, respectively, net of capitalized interest. During the year ended December 31, 2015 the Company paid approximately $24 million for Reorganizations items.

During the year ended December 31, 2015, Sabine’s noncash investing and financing activities consisted primarily of the following transactions:

Offset rights taken by counterparties upon termination of derivative financial instruments were approximately $70.8 million, and were used to reduce obligations due under the New Revolving Credit Facility.

Recognition of an asset retirement obligation for the plugging and abandonment costs related to Sabine O&G’s oil and natural gas properties valued at $0.5 million.

Accrued and payable capital expenditures as of December 31, 2015 were $8.7 million.

During the year ended December 31, 2014, Sabine’s noncash investing and financing activities consisted primarily of the following transactions:

The Combination with Forest Oil. Refer to Note 7 for preliminary allocation of consideration transferred to net assets acquired.

Recognition of an asset retirement obligation for the plugging and abandonment costs related to Sabine’s oil and natural gas properties valued at $0.7 million.

Accrued and payable capital expenditures as of December 31, 2014 were $140.6 million.

Accrued debt issuance costs as of December 31, 2014 were $0.5 million.

During the year ended December 31, 2013, Sabine’s noncash investing and financing activities consisted primarily of the following transactions:

Recognition of an asset retirement obligation for the plugging and abandonment costs related to Sabine’s oil and natural gas properties valued at $1.0 million.

Accrued and payable capital expenditures as of December 31, 2013 were $90.3 million.