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, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities:      
Net income (loss) $ (1,044,718,000) $ (11,661,000) $ 51,322,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion, amortization and accretion 394,071,000 511,102,000 451,529,000
Ceiling test write-down of oil and natural gas properties 987,238,000 0 0
Debt issuance costs write-down/amortization of debt items 4,411,000 701,000 1,645,000
Share-based compensation 10,242,000 14,744,000 11,525,000
Derivative (gain) loss (14,375,000) (3,965,000) 8,470,000
Cash receipts (payments) on derivative settlements, net 6,703,000 (5,318,000) (8,589,000)
Deferred income taxes (203,272,000) (4,760,000) 30,920,000
Changes in operating assets and liabilities:      
Oil and natural gas receivables 32,236,000 29,510,000 980,000
Joint interest and other receivables 21,633,000 (4,255,000) 34,257,000
Income taxes (7,000) 3,143,000 44,328,000
Prepaid expenses and other assets 17,816,000 15,012,000 (10,044,000)
Asset retirement obligation settlements (32,555,000) (74,313,000) (81,543,000)
Accounts payable, accrued liabilities and other (46,869,000) 4,033,000 27,908,000
Net cash provided by operating activities 132,554,000 473,973,000 562,708,000
Investing activities:      
Acquisition of property interest in oil and natural gas properties   (72,234,000) (82,424,000)
Investment in oil and natural gas properties and equipment (230,161,000) (554,378,000) (551,954,000)
Changes in operating assets and liabilities associated with investing activities (55,425,000) 37,450,000 (1,350,000)
Net proceeds from sales of assets 372,939,000   21,008,000
Purchases of furniture, fixtures and other (1,278,000) (3,340,000) (1,435,000)
Net cash provided by (used in) investing activities 86,075,000 (592,502,000) (616,155,000)
Financing activities:      
Borrowings of long-term debt - revolving bank credit facility 263,000,000 556,000,000 563,000,000
Repayments of long-term debt - revolving bank credit facility (710,000,000) (399,000,000) (443,000,000)
Issuance of 9.00% Term Loan 297,000,000    
Debt issuance costs (6,669,000)   (3,892,000)
Dividends to shareholders   (30,260,000) (58,846,000)
Other (212,000) (345,000) (260,000)
Net cash provided by (used in) financing activities (156,881,000) 126,395,000 57,002,000
Increase in cash and cash equivalents 61,748,000 7,866,000 3,555,000
Cash and cash equivalents, beginning of period 23,666,000 15,800,000 12,245,000
Cash and cash equivalents, end of period $ 85,414,000 $ 23,666,000 $ 15,800,000