XML 50 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net loss $ (137,294) $ (81,559)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion and amortization 176,206 143,624
Impairments 1,084 117,908
Accretion of firm transportation obligation 445 584
Derivative contracts:    
Net (gains) losses (7,372) 58,327
Cash settlements, net 72,332 (10,279)
Deferred income tax expense (benefit) 230 (42,452)
Loss (gain) on sales of assets, net 25 (56,775)
Non-cash exploration expense 4,005 6,579
Non-cash interest expense 2,280 2,051
Share-based compensation (equity-classified) 2,106 1,651
Other, net 3 281
Changes in operating assets and liabilities, net (15,769) (40,747)
Net cash provided by operating activities 98,281 99,193
Cash flows from investing activities    
Capital expenditures – property and equipment (263,993) (350,580)
Proceeds from sales of assets, net (221) 96,632
Net cash used in investing activities (264,214) (253,948)
Cash flows from financing activities    
Proceeds from issuance of preferred stock, net 0 313,646
Payments made to induce conversion of preferred stock 0 (3,368)
Proceeds from revolving credit facility borrowings 197,000 302,000
Repayment of revolving credit facility borrowings (20,000) (453,000)
Debt issuance costs paid (744) (151)
Dividends paid on preferred stock (12,134) (3,836)
Other, net 0 1,085
Net cash provided by financing activities 164,122 156,376
Net (decrease) increase in cash and cash equivalents (1,811) 1,621
Cash and cash equivalents – beginning of period 6,252 23,474
Cash and cash equivalents – end of period 4,441 25,095
Cash paid for:    
Interest 46,041 47,034
Income taxes 7 100
Non-cash Investing activities:    
Changes in accrued liabilities related to capital expenditures $ (20,570) $ (858)