XML 48 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (Audited) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income (loss) $ 13,437 $ 5,934 $ (81,093)
Adjustments to net income (loss) to reconcile to net cash provided by operating activities:      
Unrealized loss (gain) loss on derivatives, net (28,601) (12,625) 116,623
Depreciation, depletion and amortization 135,154 111,062 131,004
Impairment of natural gas and crude oil properties 25,159 11,147 8,205
Exploratory dry hole costs 177 4,199 1,059
Accretion of asset retirement obligation 1,897 1,423 1,368
Stock-based compensation 8,781 5,314 5,935
Excess tax benefits from stock-based compensation (1,311) (293) 0
Loss (gain) from sale of properties and equipment (4,263) 299 (105)
Amortization of debt discount and issuance costs 6,265 4,618 5,302
Deferred income taxes 9,530 1,179 (18,084)
Total adjustments to net income (loss) to reconcile to net cash provided by operating activities: 152,788 126,323 251,307
Changes in current assets and liabilities:      
Decrease (increase) in restricted cash (8,603) 219 15,564
Decrease (increase) in accounts receivable (3,451) 2,122 13,197
Decrease (increase) in other current assets (2,399) 23,591 3,032
Increase (decrease) in production tax liability 5,436 (6,818) (4,541)
Increase (decrease) in accounts payable and accrued expenses 12,422 1,172 (22,482)
Decrease in other current liabilities (2,796) (730) (31,089)
Total changes in current assets and liabilities 609 19,556 (26,319)
Net cash provided by operating activities 166,834 151,813 143,895
Cash flows from investing activities:      
Capital expenditures (334,496) (162,723) (143,033)
Acquisition of natural gas and crude oil properties, net of cash acquired (145,894) (158,051) 0
Proceeds from sale of properties and equipment 23,140 23,369 755
Other 849 (3,527) 0
Net cash used in investing activities (456,401) (300,932) (142,278)
Cash flows from financing activities:      
Proceeds from credit facility 417,194 414,500 285,086
Proceeds from senior notes 0 115,000 0
Payment of credit facility (183,713) (494,500) (399,586)
Payment of debt issuance costs (680) (8,541) (9,249)
Proceeds from sale of equity, net of issuance costs 0 125,506 48,490
Excess tax benefits from stock-based compensation 1,311 293 0
Contribution by investing partner in PDCM 12,464 20,077 55,000
Purchase of treasury stock (3,143) (788) (364)
Net cash provided by (used in) financing activities 243,433 171,547 (20,623)
Net increase (decrease) in cash and cash equivalents (46,134) 22,428 (19,006)
Cash and cash equivalents, beginning of period 54,372 31,944 50,950
Cash and cash equivalents, end of period 8,238 54,372 31,944
Cash payments (receipts) for:      
Interest, net of capitalized interest 29,429 28,335 32,014
Income tax refunds, net of income taxes (1,498) (27,322) (3,355)
Non-cash investing activities:      
Change in accounts payable related to purchases of properties and equipment 23,837 15,787 (36,765)
Change in asset retirement obligation, with a corresponding increase to natural gas and crude oil properties, net of disposals 17,538 3,624 5,110
Change in paid-in capital related to convertible debt, net of tax $ 0 $ 12,850 $ 0