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, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net (loss) income $ (2,002,358,000) $ 430,560,000 $ 435,152,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Accretion expense 3,939,000 4,119,000 1,611,000
Depletion, depreciation and amortization 550,108,000 486,664,000 364,629,000
Impairment of oil and natural gas properties 2,039,770,000 0 0
Stock-based compensation expense 4,911,000 6,799,000 6,369,000
Loss (income) from equity investments, net 210,289,000 (49,625,000) 18,513,000
Gain on debt extinguishment (48,630,000) 0 0
Change in fair value of derivative instruments (85,230,000) 65,051,000 (188,802,000)
Deferred income tax (benefit) expense (7,563,000) 1,208,000 1,690,000
Amortization of loan costs 6,328,000 6,121,000 5,011,000
Gain on sale of equity method investments and other assets (220,000) (124,768,000) (12,523,000)
Distributions from equity method investments 2,457,000 3,206,000 0
Changes in operating assets and liabilities:      
Decrease (increase) in accounts receivable—oil and natural gas sales 88,990,000 (63,427,000) (35,879,000)
(Increase) decrease in accounts receivable—joint interest and other (25,478,000) 12,943,000 (9,573,000)
Decrease in accounts receivable—related parties   0 16,000
Decrease (increase) in prepaid expenses and other current assets 5,586,000 (5,695,000) (1,777,000)
Decrease (increase) in other assets 915,000 4,066,000 (7,866,000)
(Decrease) increase in accounts payable, accrued liabilities and other (19,548,000) 9,768,000 106,375,000
Settlement of asset retirement obligation (273,000) (719,000) (3,057,000)
Net cash provided by operating activities 723,993,000 786,271,000 679,889,000
Cash flows from investing activities:      
Deductions to cash held in escrow 0 0 8,000
Additions to other property and equipment (5,021,000) (7,870,000) (19,372,000)
Acquisitions of oil and natural gas properties 0 0 (1,348,657,000)
Additions to oil and natural gas properties (720,057,000) (899,083,000) (1,064,678,000)
Proceeds from sale of oil and gas properties 48,527,000 5,114,000 4,866,000
Proceeds from sale of other property and equipment 267,000 351,000 1,569,000
Proceeds from sale of other property and equipment 0 226,487,000 0
Contributions to equity method investments (432,000) (2,319,000) (55,280,000)
Distributions from equity method investments 1,945,000 446,000 7,376,000
Net cash used in investing activities (674,771,000) (676,874,000) (2,474,168,000)
Cash flows from financing activities:      
Principal payments on borrowings (877,697,000) (220,575,000) (365,276,000)
Borrowings on line of credit 952,000,000 265,000,000 365,000,000
Proceeds from bond issuance 0 0 450,000,000
Repurchase of senior notes (138,786,000) 0 0
Borrowings on term loan 0 0 2,951,000
Debt issuance costs and loan commitment fees (288,000) (831,000) (14,350,000)
Payments on repurchase of stock (30,688,000) (200,251,000) 0
Proceeds from issuance of common stock, net of offering costs and exercise of stock options     (5,364,000)
Net cash (used in) provided by financing activities (95,459,000) (156,657,000) 432,961,000
Net decrease in cash, cash equivalents and restricted cash (46,237,000) (47,260,000) (1,361,318,000)
Cash, cash equivalents and restricted cash at beginning of period 52,297,000 99,557,000 1,460,875,000
Cash, cash equivalents and restricted cash at end of period 6,060,000 52,297,000 99,557,000
Supplemental disclosure of cash flow information:      
Interest payments 142,664,000 132,995,000 107,548,000
Income tax receipts (1,794,000)   (1,105,000)
Supplemental disclosure of non-cash transactions:      
Capitalized stock-based compensation 5,766,000 4,533,000 4,246,000
Asset retirement obligation capitalized 6,883,000 1,452,000 42,270,000
Liabilities removed due to divestitures (30,146,000) 0 0
Interest capitalized 3,372,000 4,470,000 9,470,000
Fair value of contingent consideration asset on date of divestiture (1,137,000) 0 0
Foreign currency translation gain (loss) on equity method investments $ 9,193,000 $ (15,487,000) $ 12,519,000