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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net loss $ (82,522) $ (231,379)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Deferred tax expense 543 1,079
Depreciation, depletion and amortization 23,361 52,686
Ceiling test writedown 40,304 214,618
Accretion of asset retirement obligation 1,896 2,507
Share-based compensation expense 1,361 4,022
Amortization costs and other 1,990 1,679
Payments to settle asset retirement obligations (2,884) (1,826)
Gain on sale of oil and gas properties 0 (22,359)
Costs incurred to issue 2021 Notes and 2021 PIK Notes 10,073 0
Changes in working capital accounts:    
Revenue receivable (5,374) 7,818
Joint interest billing receivable 26,800 20,147
Accounts payable and accrued liabilities (45,904) (36,630)
Advances from co-owners (15,741) 12,031
Other (5,640) (414)
Net cash (used in) provided by operating activities (51,737) 23,979
Cash flows provided by investing activities:    
Investment in oil and gas properties (22,084) (75,818)
Investment in other property and equipment (23) (430)
Sale of oil and gas properties 24,832 271,891
Net cash provided by investing activities 2,725 195,643
Cash flows used in financing activities:    
Net proceeds for share based compensation 130 422
Deferred financing costs (373) (861)
Payment of preferred stock dividend (1,285) (3,854)
Redemption of 2017 Notes (53,626) 0
Costs incurred to issue 2021 Notes and 2021 PIK Notes (10,073) 0
Proceeds from bank borrowings 0 70,000
Repayment of bank borrowings 0 (145,000)
Net cash used in financing activities (65,227) (79,293)
Net (decrease) increase in cash and cash equivalents (114,239) 140,329
Cash and cash equivalents, beginning of period 148,013 18,243
Cash and cash equivalents, end of period 33,774 158,572
Cash paid (received) during the period for:    
Interest 33,114 36,137
Income taxes $ (18) $ (26)