Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income $ 82,558 $ 44,559
Adjustments to reconcile net income to net cash provided by operating activities:    
Accretion of discount—Asset Retirement Obligation 188 175
Depletion, depreciation and amortization 56,877 22,583
Stock-based compensation expense 2,584 901
Gain from equity investments (43,688) (61,210)
Interest income - note receivable (13)   
Unrealized loss on derivative instruments 8,665 171
Deferred income tax expense 33,564 28,195
Amortization of loan commitment fees 294 254
Amortization of note discount and premium 78 72
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (27,944) 3,592
Decrease (increase) in accounts receivable—related party 2,047 (2,214)
(Increase) decrease in prepaid expenses (771) 71
Increase (decrease) in accounts payable and accrued liabilities 43,406 (1,362)
Settlement of asset retirement obligation (1,695) (780)
Net cash provided by operating activities 156,150 35,007
Cash flows from investing activities:    
Deductions to cash held in escrow 8 0
Additions to other property and equipment (1,002) (262)
Additions to oil and gas properties (420,431) (320,489)
Contributions to equity method investments (23,687) (12,653)
Distributions from equity method investments 0 188
Net cash used in investing activities (445,112) (333,216)
Cash flows from financing activities:    
Principal payments on borrowings (42) (37)
Debt issuance costs and loan commitment fees (185) (502)
Proceeds from issuance of common stock, net of offering costs and exercise of stock options 615 357,640
Net cash provided by financing activities 388 357,101
Net (decrease) increase in cash and cash equivalents (288,574) 58,892
Cash and cash equivalents at beginning of period 458,956 167,088
Cash and cash equivalents at end of period 170,382 225,980
Supplemental disclosure of cash flow information:    
Interest payments 18 35
Income tax payments 13,000 750
Supplemental disclosure of non-cash transactions:    
Capitalized stock based compensation 1,723 601
Asset retirement obligation capitalized 1,869 670
Interest capitalized 2,318 2,629
Foreign currency translation loss on investment in Grizzly Oil Sands ULC $ (7,278) $ (3,567)