Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

v3.6.0.2
Consolidated Statements Of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities:      
Net loss $ (249,020,000) $ (1,044,718,000) $ (11,661,000)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation, depletion, amortization and accretion 211,609,000 394,071,000 511,102,000
Ceiling test write-down of oil and natural gas properties 279,063,000 987,238,000 0
Gain on exchange of debt (123,923,000)    
Debt issuance costs write-down/amortization of debt items 2,548,000 4,411,000 701,000
Share-based compensation 11,013,000 10,242,000 14,744,000
Derivative (gain) loss 2,926,000 (14,375,000) (3,965,000)
Cash receipts (payments) on derivative settlements, net 4,746,000 6,703,000 (5,318,000)
Deferred income taxes 28,392,000 (203,272,000) (4,760,000)
Changes in operating assets and liabilities:      
Oil and natural gas receivables (7,005,000) 32,236,000 29,510,000
Joint interest receivables and insurance (1,126,000) 21,633,000 (4,255,000)
Income taxes (64,274,000) (7,000) 3,143,000
Prepaid expenses and other assets (14,946,000) 17,816,000 15,012,000
Asset retirement obligation settlements (72,320,000) (32,555,000) (74,313,000)
Accounts payable, accrued liabilities and other 6,497,000 (46,195,000) 4,881,000
Net cash provided by (used in) operating activities 14,180,000 133,228,000 474,821,000
Investing activities:      
Acquisition of property interest in oil and natural gas properties     (72,234,000)
Investment in oil and natural gas properties and equipment (48,606,000) (230,161,000) (554,378,000)
Changes in operating assets and liabilities associated with investing activities (35,194,000) (55,425,000) 37,450,000
Net proceeds from sales of assets 1,500,000 372,939,000  
Purchases of furniture, fixtures and other (96,000) (1,278,000) (3,340,000)
Net cash provided by (used in) investing activities (82,396,000) 86,075,000 (592,502,000)
Financing activities:      
Borrowings of long-term debt - revolving bank credit facility 340,000,000 263,000,000 556,000,000
Repayments of long-term debt - revolving bank credit facility (340,000,000) (710,000,000) (399,000,000)
Debt exchange/issuance costs (18,464,000) (6,669,000)  
Dividends to shareholders     (30,260,000)
Other (928,000) (886,000) (1,193,000)
Net cash provided by (used in) financing activities 53,038,000 (157,555,000) 125,547,000
Increase (decrease) in cash and cash equivalents (15,178,000) 61,748,000 7,866,000
Cash and cash equivalents, beginning of period 85,414,000 23,666,000 15,800,000
Cash and cash equivalents, end of period 70,236,000 85,414,000 $ 23,666,000
11.00% 1.5 Lien Term Loan, Due November 2019      
Financing activities:      
Issuance of Term Loan 75,000,000    
Payment of interest on 1.5 Lien Term Loan $ (2,570,000)    
9.00 % Second Lien Term Loan, Due May 2020      
Financing activities:      
Issuance of Term Loan   $ 297,000,000