Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income (loss) $ 435,152,000 $ (979,709,000) $ (1,224,884,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Accretion of discount—Asset Retirement Obligation 1,611,000 1,057,000 820,000
Depletion, depreciation and amortization 364,629,000 245,974,000 337,694,000
Impairment of oil and gas properties 0 715,495,000 1,440,418,000
Stock-based compensation expense 6,369,000 7,351,000 8,616,000
Loss from equity investments 5,990,000 34,397,000 113,120,000
Gain on debt extinguishment 0 (1,108,000) 0
Change in fair value of derivative instruments (188,802,000) 323,303,000 (83,671,000)
Deferred income tax expense (benefit) 1,690,000 18,188,000 (254,493,000)
Amortization of loan commitment fees 5,011,000 3,660,000 3,219,000
Amortization of note discount and premium 0 (1,716,000) (2,165,000)
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable (45,452,000) (64,889,000) 31,986,000
Decrease in accounts receivable—related party 16,000 0 30,000
Increase in prepaid expenses (1,777,000) (3,734,000) (191,000)
Increase in other assets (7,866,000) 0 0
Increase (decrease) in accounts payable and accrued liabilities and other 106,375,000 43,763,000 (47,199,000)
Settlement of asset retirement obligation (3,057,000) (4,189,000) (1,121,000)
Net cash provided by (used in) operating activities 679,889,000 337,843,000 322,179,000
Cash flows from investing activities:      
Deductions to cash held in escrow 8,000 8,000 8,000
Additions to other property and equipment (19,372,000) (33,152,000) (13,572,000)
Acquisitions of oil and natural gas properties (1,348,657,000) 0 0
Additions to oil and natural gas properties (1,064,678,000) (724,925,000) (1,579,129,000)
Proceeds from sale of oil and gas properties 4,866,000 45,812,000 27,998,000
Proceeds from sale of other property and equipment 1,569,000 0 0
Contributions to equity method investments (55,280,000) (26,472,000) (14,472,000)
Distributions from equity method investments 7,376,000 18,147,000 4,914,000
Funding of restricted cash 185,000,000 (185,000,000) 0
Net cash used in investing activities (2,289,168,000) (905,582,000) (1,574,253,000)
Cash flows from financing activities:      
Principal payments on borrowings (365,276,000) (87,685,000) (350,172,000)
Borrowings on line of credit 365,000,000 86,000,000 250,000,000
Proceeds from bond issuance 450,000,000 1,250,000,000 350,000,000
Repayment of bonds 0 (624,561,000) 0
Borrowings on term loan 2,951,000 21,049,000 0
Debt issuance costs and loan commitment fees (14,350,000) (24,718,000) (8,688,000)
Proceeds from issuance of common stock, net of offering costs and exercise of stock options (5,364,000) 1,110,555,000 981,568,000
Net cash provided by financing activities 432,961,000 1,730,640,000 1,222,708,000
Net (decrease) increase in cash and cash equivalents (1,176,318,000) 1,162,901,000 (29,366,000)
Cash and cash equivalents at beginning of period 1,275,875,000 112,974,000 142,340,000
Cash and cash equivalents at end of period 99,557,000 1,275,875,000 112,974,000
Supplemental disclosure of cash flow information:      
Interest payments 101,958,000 68,966,000 59,736,000
Income tax (receipts) payments (1,105,000) (19,770,000) 16,156,000
Supplemental disclosure of non-cash transactions:      
Capitalized stock based compensation 4,246,000 4,900,000 5,743,000
Asset retirement obligation capitalized 42,270,000 10,971,000 8,800,000
Interest capitalized 9,470,000 9,148,000 13,580,000
Foreign currency translation gain (loss) on equity method investments $ 12,519,000 $ 3,468,000 $ (28,502,000)