Statement Of Cash Flow Information

6 Months Ended

Jun. 30, 2012

Statement Of Cash Flow Information [Abstract]

Statement Of Cash Flow Information

Note 5 – Statement of Cash Flow Information

We define cash and cash equivalents as cash and all highly liquid financial instruments with original maturities of less than three months.We had restricted cash totaling $31.1 million at June 30, 2012 and $33.7 million at December 31, 2011, all of which consisted of funds required to be escrowed to cover the future asset retirement obligations associated with our South Marsh Island Block 130 field.We have fully satisfied the escrow requirements under the escrow agreement and may use the restricted cash for future asset retirement costs of the field.We have used a small portion of these escrowed funds to pay for the initial reclamation activities at the South Marsh Island Block 130 field.Reclamation activities at the field will occur over many years and will be funded with these escrowed amounts.These amounts are reflected in “Other assets, net” in the accompanying condensed consolidated balance sheets.

The following table provides supplemental cash flow information for the six-month periods ended June 30, 2012 and 2011 (in thousands):

		Six Months Ended
		June 30,
		2012		2011
Interest paid, net of capitalized interest	$	39,259	$	40,220
Income taxes paid	$	23,054	$	7,236

Non-cash investing activities for the six-month periods ended June 30, 2012 and 2011 included $37.8 million and $33.7 million, respectively, of accruals for capital expenditures.The accruals have been reflected in the accompanying condensed consolidated balance sheets as an increase in property and equipment and accounts payable.