Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.4.0.3
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net (loss) income $ (242,267,000) $ 25,519,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Accretion of discount—Asset Retirement Obligation 247,000 190,000
Depletion, depreciation and amortization 65,477,000 89,909,000
Impairment of oil and gas properties 218,991,000 0
Stock-based compensation expense 2,005,000 2,077,000
Loss (gain) from equity investments 30,896,000 (12,759,000)
Loss (gain) on derivative instruments 7,685,000 (31,324,000)
Deferred income tax (benefit) expense (191,000) 14,479,000
Amortization of loan commitment fees 946,000 617,000
Amortization of note discount and premium (563,000) (528,000)
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (6,629,000) 24,178,000
(Increase) decrease in accounts receivable—related party (1,000) 13,000
Decrease (increase) in prepaid expenses 1,150,000 (12,063,000)
Increase (decrease) in accounts payable and accrued liabilities 6,080,000 (290,000)
Settlement of asset retirement obligation (52,000) (981,000)
Net cash provided by operating activities 83,774,000 99,037,000
Cash flows from investing activities:    
Deductions to cash held in escrow 0 8,000
Additions to other property and equipment (5,183,000) (632,000)
Additions to oil and gas properties (151,293,000) (226,905,000)
Proceeds from sale of oil and gas properties 630,000 1,314,000
Contributions to equity method investments (1,821,000) (6,093,000)
Distributions from equity method investments 138,000 817,000
Net cash used in investing activities (157,529,000) (231,491,000)
Cash flows from financing activities:    
Principal payments on borrowings (1,685,000) (50,045,000)
Borrowings on line of credit 0 115,000,000
Borrowings on term loan 5,041,000 0
Debt issuance costs and loan commitment fees (116,000) (101,000)
Proceeds from issuance of common stock, net of offering costs and exercise of stock options 411,918,000  
Net cash provided by financing activities 415,158,000 64,854,000
Net increase (decrease) in cash and cash equivalents 341,403,000 (67,600,000)
Cash and cash equivalents at beginning of period 112,974,000 142,340,000
Cash and cash equivalents at end of period 454,377,000 74,740,000
Supplemental disclosure of cash flow information:    
Interest payments 80,000 240,000
Income tax payments   29,750,000
Supplemental disclosure of non-cash transactions:    
Capitalized stock based compensation 1,336,000 1,385,000
Asset retirement obligation capitalized 1,914,000 1,584,000
Interest capitalized 1,862,000 3,694,000
Foreign currency translation gain (loss) on equity method investments $ 9,058,000 $ (14,984,000)