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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
[1]
Operating Activities      
Net income (loss) including noncontrolling interest $ (1,262,445) $ 1,253,302 $ 419,486
Adjustments to reconcile net income (loss) to net cash provided by continuing operations activities:      
(Income) loss from discontinued operations 7,151 (1,064,487) (250,348)
Depreciation, depletion and amortization 987,239 1,147,842 775,614
Previously suspended exploration costs 21,099 12,840 20,508
Amortization of undeveloped leases 26,743 27,973 40,177
Accretion of asset retirement obligations 42,136 40,506 27,119
Impairment of assets 1,206,284 0 20,000
Noncash restructuring expense 17,565 0 0
Deferred income tax charge (benefit) (278,042) 28,530 (177,627)
Mark to market loss (gain) on contingent consideration (13,783) 8,672 (4,810)
Mark to market loss (gain) on crude contracts 69,310 33,364 (33,954)
Long-term non-cash compensation 46,558 76,958 72,151
Net (increase) decrease in noncash operating working capital (32,027) (16,887) (16,103)
Other operating activities, net (35,080) (59,508) (142,818)
Net cash provided by continuing operations activities 802,708 1,489,105 749,395
Investing Activities      
Property additions and dry hole costs (759,809) (1,244,069) (1,011,292)
Property additions for King's Quay FPS (112,961) (100,202) 0
Proceeds from sales of property, plant and equipment 13,750 20,382 1,175
Acquisition of oil and natural gas properties 0 (1,212,315) (794,623)
Net cash required by investing activities (859,020) (2,536,204) (1,804,740)
Financing Activities      
Borrowings on revolving credit facility and term loan 450,000 1,725,000 325,000
Repayment of revolving credit facility and term loan (250,000) (2,050,000) 0
Cash dividends paid (95,989) (163,669) (173,044)
Distributions to noncontrolling interest (43,673) (128,158) 0
Early retirement of debt (12,225) (521,332) 0
Withholding tax on stock-based incentive awards (7,094) (6,991) (8,076)
Debt issuance, net of cost (613) 542,394 0
Capital lease obligation payments (695) (688) (318)
Loss on early extinguishment of debt 0 (26,626) 0
Repurchase of common stock 0 (499,924) 0
Net cash (required) provided by financing activities 39,711 (1,129,994) 143,562
Cash Flows from Discontinued Operations      
Operating activities [2] (1,202) 73,783 406,857
Investing activities [2] 4,494 2,022,034 (91,398)
Financing activities [2] 0 (4,914) (9,432)
Net cash provided by discontinued operations [2] 3,292 2,090,903 306,027
Cash from discontinued operations [2] 18,438 2,120,397 612,543
Effect of exchange rate changes on cash and cash equivalents 2,009 3,533 28,730
Net increase (decrease) in cash and cash equivalents 3,846 (53,163) (270,510)
Cash and cash equivalents at beginning of period 306,760 359,923 [1] 630,433
Cash and cash equivalents at end of period $ 310,606 $ 306,760 $ 359,923
[1] Reclassified to conform with current presentation
[2] Net cash provided by discontinued operations are not part of the cash flow reconciliation.