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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net loss $ (33,473) $ (57,165)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion and amortization 13,812 90,790
Accretion of firm transportation obligation 175 212
Derivative contracts:    
Net gains (4,492) (22,867)
Cash settlements, net 30,559 37,492
Deferred income tax expense 0 141
Loss on sales of assets, net 153 91
Non-cash exploration expense 856 1,983
Non-cash interest expense 1,269 1,104
Share-based compensation (equity-classified) (602) [1] 990
Other, net (4) 9
Changes in operating assets and liabilities, net 20,278 (7,228)
Net cash provided by operating activities 28,531 45,552
Cash flows from investing activities    
Capital expenditures – property and equipment (14,005) (168,994)
Proceeds from sales of assets, net 126 116
Net cash used in investing activities (13,879) (168,878)
Cash flows from financing activities    
Proceeds from revolving credit facility borrowings 0 127,000
Repayment of revolving credit facility borrowings (75) 0
Dividends paid on preferred stock 0 (6,067)
Net cash (used in) provided by financing activities (75) 120,933
Net increase (decrease) in cash and cash equivalents 14,577 (2,393)
Cash and cash equivalents – beginning of period 11,955 6,252
Cash and cash equivalents – end of period 26,532 3,859
Cash paid for:    
Interest 735 732
Income taxes paid (refunds received) (35) 0
Non-cash Investing activities:    
Changes in accrued liabilities related to capital expenditures (9,697) (21,539)
Derivatives Settled to Pay Down Revolver $ 22,860 $ 0
[1] Includes equity-classified share-based compensation of $(602) and $990 for the three months ended March 31, 2016 and 2015, respectively.