Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net (loss) income $ (5,806) $ 130,410
Adjustments to reconcile net income to net cash provided by operating activities:    
Accretion of discount—Asset Retirement Obligation 382 377
Depletion, depreciation and amortization 161,064 112,871
Stock-based compensation expense 4,041 4,599
Loss (gain) from equity investments 2,171 (113,257)
Interest income - note receivable   (25)
Unrealized loss on derivative instruments 3,309 6,433
Deferred income tax (benefit) expense (2,735) 55,550
Amortization of loan commitment fees 1,416 637
Amortization of note discount and premium (1,065) 158
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 17,237 (48,631)
(Increase) decrease in accounts receivable—related party (44) 2,490
Increase in prepaid expenses (11,454) (994)
(Decrease) increase in accounts payable and accrued liabilities (28,522) 53,988
Settlement of asset retirement obligation (1,120) (3,097)
Net cash provided by operating activities 138,874 201,509
Cash flows from investing activities:    
Deductions to cash held in escrow 8 8
Additions to other property and equipment (4,154) (1,759)
Additions to oil and gas properties (898,639) (672,967)
Proceeds from sale of oil and gas properties 1,679 0
Proceeds from sale of investments 0 89,120
Deductions to cash held in escrow (75,005) 0
Contributions to equity method investments (8,267) (39,162)
Distributions from equity method investments 4,612 0
Net cash used in investing activities (979,766) (624,760)
Cash flows from financing activities:    
Principal payments on borrowings (350,088) (85)
Borrowings on line of credit 250,000 40,000
Proceeds from bond issuance 350,000 0
Debt issuance costs and loan commitment fees (7,738) (975)
Proceeds from issuance of common stock, net of offering costs and exercise of stock options 981,866 648
Net cash provided by financing activities 1,224,040 39,588
Net increase (decrease) in cash and cash equivalents 383,148 (383,663)
Cash and cash equivalents at beginning of period 142,340 458,956
Cash and cash equivalents at end of period 525,488 75,293
Supplemental disclosure of cash flow information:    
Interest payments 24,176 11,738
Income tax payments 29,753 16,700
Supplemental disclosure of non-cash transactions:    
Capitalized stock based compensation 2,694 3,066
Asset retirement obligation capitalized 4,077 3,613
Interest capitalized 8,399 6,245
Foreign currency translation loss on investment in Grizzly Oil Sands ULC $ (11,737) $ (462)