Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net (loss) income $ (979,709) $ (1,224,884) $ 247,403
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Accretion of discount—Asset Retirement Obligation 1,057 820 761
Depletion, depreciation and amortization 245,974 337,694 265,431
Impairment of oil and gas properties 715,495 1,440,418 0
Stock-based compensation expense 7,351 8,616 8,916
Loss (gain) from equity investments 34,397 113,120 (54,171)
Gain on debt extinguishment (1,108) 0 0
Gain on contribution of investments 0 0 (84,470)
Interest income - note receivable 0   (46)
Loss (gain) on derivative instruments 323,303 (83,671) (121,148)
Deferred income tax expense (benefit) 18,188 (254,493) 122,917
Amortization of loan commitment fees 3,660 3,219 1,685
Amortization of note discount and premium (1,716) (2,165) (533)
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable (64,889) 31,986 (45,034)
Decrease in accounts receivable—related party   30 2,571
Increase in prepaid expenses (3,734) (191) (1,133)
Increase (decrease) in accounts payable and accrued liabilities and other 43,763 (47,199) 73,925
Settlement of asset retirement obligation (4,189) (1,121) (7,201)
Net cash provided by (used in) operating activities 337,843 322,179 409,873
Cash flows from investing activities:      
Deductions to cash held in escrow 8 8 8
Additions to other property and equipment (33,152) (13,572) (7,030)
Additions to oil and gas properties (724,925) (1,579,129) (1,329,277)
Proceeds from sale of oil and gas properties 45,812 27,998 4,404
Repayments on note receivable to related party 0 0 875
Proceeds from sale of investments 0 0 258,362
Contributions to equity method investments (26,472) (14,472) (63,999)
Distributions from equity method investments 18,147 4,914 0
Funding of restricted cash (185,000) 0 0
Net cash (used in) provided by investing activities (905,582) (1,574,253) (1,136,657)
Cash flows from financing activities:      
Principal payments on borrowings (87,685) (350,172) (115,690)
Borrowings on line of credit 86,000 250,000 215,000
Proceeds from bond issuance 1,250,000 350,000 318,000
Repayment of bonds (624,561) 0 0
Borrowings on term loan 21,049 0 0
Debt issuance costs and loan commitment fees (24,718) (8,688) (7,831)
Proceeds from issuance of common stock, net of offering costs and exercise of stock options 1,110,555 981,568 689
Net cash provided by financing activities 1,730,640 1,222,708 410,168
Net increase (decrease) in cash and cash equivalents 1,162,901 (29,366) (316,616)
Cash and cash equivalents at beginning of period 112,974 142,340 458,956
Cash and cash equivalents at end of period 1,275,875 112,974 142,340
Supplemental disclosure of cash flow information:      
Interest payments 68,966 59,736 28,646
Income tax (receipts) payments (19,770) 16,156 23,800
Supplemental disclosure of non-cash transactions:      
Capitalized stock based compensation 4,900 5,743 5,944
Asset retirement obligation capitalized 10,971 8,800 9,295
Interest capitalized 9,148 13,580 9,687
Foreign currency translation gain (loss) on equity method investments $ 3,468 $ (28,502) $ (16,894)