Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income (loss) $ 154,455,000 $ (242,267,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Accretion of discount—Asset Retirement Obligation 282,000 247,000
Depletion, depreciation and amortization 65,991,000 65,477,000
Impairment of oil and gas properties 0 218,991,000
Stock-based compensation expense 1,532,000 2,005,000
Loss from equity investments 5,150,000 30,896,000
Change in fair value of derivative instruments (106,796,000) 7,685,000
Deferred income tax expense (benefit) 0 (191,000)
Amortization of loan commitment fees 1,088,000 946,000
Amortization of note discount and premium 0 (563,000)
Changes in operating assets and liabilities:    
Increase in accounts receivable (21,393,000) (6,629,000)
Increase in accounts receivable—related party (23,000) (1,000)
(Increase) decrease in prepaid expenses (8,366,000) 1,150,000
Increase in other assets (4,013,000) 0
Increase in accounts payable, accrued liabilities and other 54,738,000 6,080,000
Settlement of asset retirement obligation 0 (52,000)
Net cash provided by operating activities 142,645,000 83,774,000
Cash flows from investing activities:    
Additions to other property and equipment (5,444,000) (5,183,000)
Acquisition of oil and gas properties (1,338,964,000) 0
Additions to oil and gas properties (181,834,000) (151,293,000)
Proceeds from sale of oil and gas properties 3,605,000 630,000
Funding of restricted cash 185,000,000 0
Contributions to equity method investments (10,673,000) (1,821,000)
Distributions from equity method investments 631,000 138,000
Net cash used in investing activities (1,347,679,000) (157,529,000)
Cash flows from financing activities:    
Principal payments on borrowings 0 (1,685,000)
Borrowings on line of credit 40,000,000 0
Borrowings on term loan 2,698,000 5,041,000
Debt issuance costs and loan commitment fees (5,733,000) (116,000)
Proceeds from issuance of common stock, net of offering costs (5,321,000) 411,918,000
Net cash provided by financing activities 31,644,000 415,158,000
Net (decrease) increase in cash and cash equivalents (1,173,390,000) 341,403,000
Cash and cash equivalents at beginning of period 1,275,875,000 112,974,000
Cash and cash equivalents at end of period 102,485,000 454,377,000
Supplemental disclosure of cash flow information:    
Interest payments 347,000 80,000
Income tax payments 0 0
Supplemental disclosure of non-cash transactions:    
Capitalized stock based compensation 1,021,000 1,336,000
Asset retirement obligation capitalized 6,779,000 1,914,000
Interest capitalized 3,122,000 1,862,000
Foreign currency translation gain on equity method investments $ 1,373,000 $ 9,058,000