Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income (loss) $ 430,560,000 $ 435,152,000 $ (979,709,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Accretion expense 4,119,000 1,611,000 1,057,000
Depletion, depreciation and amortization 486,664,000 364,629,000 245,974,000
Impairment of oil and gas properties 0 0 715,495,000
Stock-based compensation expense 6,799,000 6,369,000 7,351,000
(Income) loss from equity investments (49,625,000) 18,513,000 37,788,000
Gain on debt extinguishment 0 0 (1,108,000)
Change in fair value of derivative instruments 65,051,000 (188,802,000) 323,303,000
Deferred income tax expense 1,208,000 1,690,000 18,188,000
Amortization of loan costs 6,121,000 5,011,000 3,660,000
Amortization of note discount and premium 0 0 (1,716,000)
Gain on sale of equity method investments (124,768,000) (12,523,000) (3,391,000)
Distributions from equity method investments 3,206,000 0 0
Changes in operating assets and liabilities:      
Increase in accounts receivable—oil and natural gas sales (63,427,000) (35,879,000) (76,269,000)
Decrease (increase) in accounts receivable—joint interest and other 12,943,000 (9,573,000) 11,380,000
Decrease in accounts receivable—related parties   16,000 0
Increase in prepaid expenses and other current assets (5,695,000) (1,777,000) (3,734,000)
Decrease (increase) in other assets 4,066,000 (7,866,000) 0
(Decrease) increase in accounts payable, accrued liabilities and other (24,015,000) 106,375,000 43,763,000
Settlement of asset retirement obligation (719,000) (3,057,000) (4,189,000)
Net cash provided by operating activities 752,488,000 679,889,000 337,843,000
Cash flows from investing activities:      
Deductions to cash held in escrow 0 8,000 8,000
Additions to other property and equipment (7,870,000) (19,372,000) (33,152,000)
Acquisitions of oil and natural gas properties 0 (1,348,657,000) 0
Additions to oil and natural gas properties (865,300,000) (1,064,678,000) (724,925,000)
Proceeds from sale of oil and gas properties 5,114,000 4,866,000 45,812,000
Proceeds from sale of other property and equipment 351,000 1,569,000 0
Proceeds from sale of other property and equipment 226,487,000 0 0
Contributions to equity method investments (2,319,000) (55,280,000) (26,472,000)
Distributions from equity method investments 446,000 7,376,000 18,147,000
Net cash used in investing activities (643,091,000) (2,474,168,000) (720,582,000)
Cash flows from financing activities:      
Principal payments on borrowings (220,575,000) (365,276,000) (87,685,000)
Borrowings on line of credit 265,000,000 365,000,000 86,000,000
Proceeds from bond issuance 0 450,000,000 1,250,000,000
Repayment of bonds 0 0 (624,561,000)
Borrowings on term loan 0 2,951,000 21,049,000
Debt issuance costs and loan commitment fees (831,000) (14,350,000) (24,718,000)
Payments on repurchase of stock (200,251,000) 0 0
Proceeds from issuance of common stock, net of offering costs and exercise of stock options   (5,364,000) 1,110,555,000
Net cash (used in) provided by financing activities (156,657,000) 432,961,000 1,730,640,000
Net (decrease) increase in cash, cash equivalents and restricted cash (47,260,000) (1,361,318,000) 1,347,901,000
Cash, cash equivalents and restricted cash at beginning of period 99,557,000 1,460,875,000 112,974,000
Cash, cash equivalents and restricted cash at end of period 52,297,000 99,557,000 1,460,875,000
Supplemental disclosure of cash flow information:      
Interest payments 126,342,000 101,958,000 68,966,000
Income tax receipts 0 (1,105,000) (19,770,000)
Supplemental disclosure of non-cash transactions:      
Capitalized stock-based compensation 4,533,000 4,246,000 4,900,000
Asset retirement obligation capitalized 1,452,000 42,270,000 10,971,000
Interest capitalized 4,470,000 9,470,000 9,148,000
Foreign currency translation (loss) gain on equity method investments $ (15,487,000) $ 12,519,000 $ 3,468,000