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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities  
Net income (loss)$ (104,976)$ 42,604
Adjustments to reconcile net income (loss) to net cash provided by operating activities from continuing operations:  
Income from discontinued operations before income taxes (36,832)
Gain on sale of discontinued operations before income taxes (84,740)
Non-cash portion of loss on extinguishment of debt22,456 
Depreciation, depletion and amortization113,22495,358
Impairments71,07136,251
Derivative contracts:  
Net gains(19,827)(44,410)
Cash settlements20,30224,287
Deferred income tax benefit(60,372)6,149
Gain on sales of property and equipment, net(223)(151)
Dry hole and unproved leasehold expense52,45726,501
Non-cash interest expense5,8129,089
Share-based compensation5,6296,400
Other, net225(341)
Changes in operating assets and liabilities, net(2,614)(11,290)
Net cash provided by operating activities from continuing operations103,16468,875
Cash flows from investing activities  
Capital expenditures - property and equipment(318,274)(313,710)
Proceeds from the sale of PVG units, net 139,120
Proceeds from sales of property and equipment, net31,07725,172
Other, net1001,192
Net cash used in investing activities for continuing operations(287,097)(148,226)
Cash flows from financing activities  
Dividends paid(7,736)(7,700)
Proceeds from revolving credit facility borrowings30,000 
Repayment of revolving credit facility borrowings(15,000) 
Proceeds from the issuance of Senior Notes due 2019300,000 
Repurchase of Convertible Notes(232,963) 
Debt issuance costs paid(8,850) 
Proceeds from the sale of PVG units, net 199,125
Distributions received from discontinued operations 11,218
Other, net1,1482,143
Net cash provided by financing activities from continuing operations66,599204,786
Cash flows from discontinued operations  
Net cash provided by operating activities 77,759
Net cash used in investing activities (18,112)
Net cash used in financing activities (59,647)
Net cash provided by discontinued operations  
Net increase (decrease) in cash and cash equivalents(117,334)125,435
Cash and cash equivalents - beginning of period120,91179,017
Cash and cash equivalents - end of period3,577204,452
Cash paid for:  
Interest (net of amounts capitalized)17,28822,646
Income taxes (net of refunds received)$ 433$ 25,168