|
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Operating activities: | |||
| Net income (loss) | $ (11,661)us-gaap_NetIncomeLoss | $ 51,322us-gaap_NetIncomeLoss | $ 71,984us-gaap_NetIncomeLoss |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation, depletion, amortization and accretion | 511,102us-gaap_DepreciationAmortizationAndAccretionNet | 451,529us-gaap_DepreciationAmortizationAndAccretionNet | 356,232us-gaap_DepreciationAmortizationAndAccretionNet |
| Amortization of debt issuance costs and premium | 701us-gaap_AmortizationOfFinancingCostsAndDiscounts | 1,645us-gaap_AmortizationOfFinancingCostsAndDiscounts | 2,575us-gaap_AmortizationOfFinancingCostsAndDiscounts |
| Share-based compensation | 14,744us-gaap_ShareBasedCompensation | 11,525us-gaap_ShareBasedCompensation | 12,398us-gaap_ShareBasedCompensation |
| Derivative (gain) loss | (3,965)us-gaap_GainLossOnDerivativeInstrumentsNetPretax | 8,470us-gaap_GainLossOnDerivativeInstrumentsNetPretax | 13,954us-gaap_GainLossOnDerivativeInstrumentsNetPretax |
| Cash payments on derivative settlements, net | (5,318)wti_CashPaymentsReceiptsOnDerivativeSettlements | (8,589)wti_CashPaymentsReceiptsOnDerivativeSettlements | (7,664)wti_CashPaymentsReceiptsOnDerivativeSettlements |
| Deferred income taxes | (4,760)us-gaap_DeferredIncomeTaxExpenseBenefit | 30,920us-gaap_DeferredIncomeTaxExpenseBenefit | 88,109us-gaap_DeferredIncomeTaxExpenseBenefit |
| Changes in operating assets and liabilities: | |||
| Oil and natural gas receivables | 29,510us-gaap_IncreaseDecreaseInAccountsReceivable | 980us-gaap_IncreaseDecreaseInAccountsReceivable | 818us-gaap_IncreaseDecreaseInAccountsReceivable |
| Joint interest and other receivables | (4,255)us-gaap_IncreaseDecreaseInOtherReceivables | 34,257us-gaap_IncreaseDecreaseInOtherReceivables | (28,823)us-gaap_IncreaseDecreaseInOtherReceivables |
| Income taxes | 3,143us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable | 44,328us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable | (58,011)us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable |
| Prepaid expenses and other assets | 15,012us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | (10,044)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | 7,440us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
| Asset retirement obligation settlements | (74,313)us-gaap_AssetRetirementObligationCashPaidToSettle | (81,543)us-gaap_AssetRetirementObligationCashPaidToSettle | (112,827)us-gaap_AssetRetirementObligationCashPaidToSettle |
| Accounts payable, accrued liabilities and other | 41,483us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | 26,558us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | 38,952us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities |
| Net cash provided by operating activities | 511,423us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | 561,358us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | 385,137us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
| Investing activities: | |||
| Acquisition of property interest in oil and natural gas properties | (72,234)us-gaap_PaymentsToAcquireOilAndGasPropertyAndEquipment | (82,424)us-gaap_PaymentsToAcquireOilAndGasPropertyAndEquipment | (205,550)us-gaap_PaymentsToAcquireOilAndGasPropertyAndEquipment |
| Investment in oil and natural gas properties and equipment | (554,378)us-gaap_PaymentsToExploreAndDevelopOilAndGasProperties | (551,954)us-gaap_PaymentsToExploreAndDevelopOilAndGasProperties | (479,313)us-gaap_PaymentsToExploreAndDevelopOilAndGasProperties |
| Proceeds from sales of assets and other, net | 21,008us-gaap_ProceedsFromSalesOfAssetsInvestingActivities | 30,453us-gaap_ProceedsFromSalesOfAssetsInvestingActivities | |
| Purchases of furniture, fixtures and other | (3,340)us-gaap_PaymentsToAcquireFurnitureAndFixtures | (1,435)us-gaap_PaymentsToAcquireFurnitureAndFixtures | (3,031)us-gaap_PaymentsToAcquireFurnitureAndFixtures |
| Net cash used in investing activities | (629,952)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (614,805)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (657,441)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
| Financing activities: | |||
| Issuance of 8.50% Senior Notes | 318,000us-gaap_ProceedsFromIssuanceOfUnsecuredDebt | ||
| Borrowings of long-term debt - revolving bank credit facility | 556,000us-gaap_ProceedsFromLongTermLinesOfCredit | 563,000us-gaap_ProceedsFromLongTermLinesOfCredit | 732,000us-gaap_ProceedsFromLongTermLinesOfCredit |
| Repayments of long-term debt - revolving bank credit facility | (399,000)us-gaap_RepaymentsOfLongTermLinesOfCredit | (443,000)us-gaap_RepaymentsOfLongTermLinesOfCredit | (679,000)us-gaap_RepaymentsOfLongTermLinesOfCredit |
| Debt issuance costs | (3,892)us-gaap_PaymentsOfDebtIssuanceCosts | (8,510)us-gaap_PaymentsOfDebtIssuanceCosts | |
| Dividends to shareholders | (30,260)us-gaap_PaymentsOfDividends | (58,846)us-gaap_PaymentsOfDividends | (82,832)us-gaap_PaymentsOfDividends |
| Other | (345)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities | (260)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities | 379us-gaap_ProceedsFromPaymentsForOtherFinancingActivities |
| Net cash provided by financing activities | 126,395us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | 57,002us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | 280,037us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
| Increase in cash and cash equivalents | 7,866us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 3,555us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 7,733us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| Cash and cash equivalents, beginning of period | 15,800us-gaap_CashAndCashEquivalentsAtCarryingValue | 12,245us-gaap_CashAndCashEquivalentsAtCarryingValue | 4,512us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Cash and cash equivalents, end of period | $ 23,666us-gaap_CashAndCashEquivalentsAtCarryingValue | $ 15,800us-gaap_CashAndCashEquivalentsAtCarryingValue | $ 12,245us-gaap_CashAndCashEquivalentsAtCarryingValue |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash paid during the period to settle an asset retirement obligation. Amounts paid to settle an asset retirement obligation are generally included in the operating section of the Statement of Cash Flows. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amounts payable to taxing authorities for taxes that are based on the reporting entity's earnings, net of amounts receivable from taxing authorities for refunds of overpayments or recoveries of income taxes. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in other amounts due to the reporting entity, which are not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for acquisition of furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to purchase long lived physical asset for use in the normal oil and gas operations and to purchase mineral interests in oil and gas properties not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for exploration and development of oil and gas properties. It includes cash payments related to development of oil and gas wells drilled at previously untested geologic structures (to determine the presence of oil or gas) and wells drilled at sites where the presence of oil or gas has already been established (to extract the oil or gas). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the issuance of long-term debt that is not secured by collateral. Excludes proceeds from tax exempt unsecured debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate cash proceeds received from a combination of transactions that are classified as investing activities in which assets, which may include one or more investments, are sold to third-party buyers. This element can be used by entities to aggregate proceeds from all asset sales that are classified as investing activities. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow for the settlement of obligation drawn from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net cash payments or net cash received related to derivative settlements. No definition available.
|