Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net (loss) income $ (394,015) $ 137,330
Adjustments to reconcile net income to net cash provided by operating activities:    
Accretion of discount—Asset Retirement Obligation 594 569
Depletion, depreciation and amortization 251,393 185,280
Impairment of oil and gas properties 594,776 0
Stock-based compensation expense 6,334 6,747
Loss (gain) from equity investments 64,062 (78,304)
Interest income - note receivable   (38)
Unrealized gain on derivative instruments (58,873) (23,049)
Deferred income tax (benefit) expense (219,338) 38,566
Amortization of loan commitment fees 2,287 1,093
Amortization of note discount and premium (1,611) (13)
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 37,587 (80,767)
(Increase) decrease in accounts receivable—related party (103) 2,464
Increase in prepaid expenses (12,442) (997)
(Decrease) increase in accounts payable and accrued liabilities (34,440) 101,990
Settlement of asset retirement obligation (1,120) (4,972)
Net cash provided by operating activities 235,091 285,899
Cash flows from investing activities:    
Deductions to cash held in escrow 8 8
Additions to other property and equipment (8,209) (3,937)
Additions to oil and gas properties (1,373,292) (1,040,607)
Proceeds from sale of oil and gas properties 18,192 4,198
Proceeds from sale of investments 0 197,565
Contributions to equity method investments (13,837) (61,750)
Distributions from equity method investments 4,761 476
Net cash used in investing activities (1,372,377) (904,047)
Cash flows from financing activities:    
Principal payments on borrowings (350,130) (115,126)
Borrowings on line of credit 250,000 115,000
Proceeds from bond issuance 350,000 318,000
Debt issuance costs and loan commitment fees (8,381) (6,453)
Proceeds from issuance of common stock, net of offering costs and exercise of stock options 981,568 654
Net cash provided by financing activities 1,223,057 312,075
Net increase (decrease) in cash and cash equivalents 85,771 (306,073)
Cash and cash equivalents at beginning of period 142,340 458,956
Cash and cash equivalents at end of period 228,111 152,883
Supplemental disclosure of cash flow information:    
Interest payments 24,195 11,930
Income tax payments 29,753 23,800
Supplemental disclosure of non-cash transactions:    
Capitalized stock based compensation 4,222 4,499
Asset retirement obligation capitalized 5,736 5,713
Interest capitalized 12,041 9,606
Foreign currency translation loss on investment in Grizzly Oil Sands ULC $ (23,275) $ (9,998)