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Condensed Consolidating Financial Information | 3 Months Ended
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Mar. 31, 2012
Condensed Consolidating Financial Information [Abstract] |
Condensed Consolidating Financial Information | 12. Condensed Consolidating Financial Information The 2019 Notes and the 2021 Notes (see Note 7) are guaranteed on a senior unsecured basis by the Guarantors, which are 100% owned by the Company. These guarantees are full and unconditional and joint and several among the Guarantors. Certain of the Company's immaterial wholly owned subsidiaries do not guarantee the Notes ("Non-Guarantor Subsidiaries"). The following financial information reflects consolidating financial information of the Company ("Issuer") and its Guarantors on a combined basis, prepared on the equity basis of accounting. The Non-Guarantor Subsidiaries are immaterial and, therefore, not presented separately. The information is presented in accordance with the requirements of Rule 3-10 under the SEC's Regulation S-X. The financial information may not necessarily be indicative of results of operations, cash flows or financial position had the Guarantors operated as independent entities. The Company has not presented separate financial and narrative information for each of the Guarantors because it believes such financial and narrative information would not provide any additional information that would be material in evaluating the sufficiency of the Guarantors. The consolidating statement of cash flows for the three months ended March 31, 2011 includes a revision in presentation in the Issuer column, which increased cash flows from operating activities by $3.2 million and reduced cash flows from financing activities by the same amount. These revisions are eliminated in consolidation and have no effect on the Guarantors or consolidated financial statements. Condensed Consolidating Balance Sheet (In thousands, except share data)
|  | March 31, 2012 |
|  | Parent/ Issuer |  |  | Combined Guarantor Subsidiaries |  |  | Intercompany Eliminations |  |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 293,434 |  |  | $ | (6,136 | ) |  | $ | — |  |  | $ | 287,298 |
Accounts receivable – oil and gas revenues |  |  | — |  |  |  | 78,455 |  |  |  | — |  |  |  | 78,455 |
Accounts receivable – joint interest partners |  |  | 88 |  |  |  | 70,285 |  |  |  | (3,358 | ) |  |  | 67,015 |
Inventory |  |  | — |  |  |  | 10,422 |  |  |  | — |  |  |  | 10,422 |
Prepaid expenses |  |  | 154 |  |  |  | 1,586 |  |  |  | — |  |  |  | 1,740 |
Advances to joint interest partners |  |  | — |  |  |  | 3,280 |  |  |  | — |  |  |  | 3,280 |
Deferred income taxes |  |  | — |  |  |  | 6,807 |  |  |  | — |  |  |  | 6,807 |
Other current assets |  |  | 8 |  |  |  | 72 |  |  |  | — |  |  |  | 80 |
Total current assets |  |  | 293,684 |  |  |  | 164,771 |  |  |  | (3,358 | ) |  |  | 455,097 |
Property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) |  |  | — |  |  |  | 1,515,788 |  |  |  | — |  |  |  | 1,515,788 |
Other property and equipment |  |  | — |  |  |  | 38,660 |  |  |  | — |  |  |  | 38,660 |
Less: accumulated depreciation, depletion, amortization and impairment |  |  | — |  |  |  | (215,436 | ) |  |  | — |  |  |  | (215,436 | )
Total property, plant and equipment, net |  |  | — |  |  |  | 1,339,012 |  |  |  | — |  |  |  | 1,339,012 |
Investments in and advances to subsidiaries |  |  | 1,141,459 |  |  |  | — |  |  |  | (1,141,459 | ) |  |  | — |
Derivative instruments |  |  | — |  |  |  | 486 |  |  |  | — |  |  |  | 486 |
Deferred costs and other assets |  |  | 15,262 |  |  |  | 3,553 |  |  |  | — |  |  |  | 18,815 |
Total assets |  | $ | 1,450,405 |  |  | $ | 1,507,822 |  |  | $ | (1,144,817 | ) |  | $ | 1,813,410 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 3,270 |  |  | $ | 604 |  |  | $ | (3,358 | ) |  | $ | 516 |
Advances from joint interest partners |  |  | — |  |  |  | 14,548 |  |  |  | — |  |  |  | 14,548 |
Revenues and production taxes payable |  |  | — |  |  |  | 45,276 |  |  |  | — |  |  |  | 45,276 |
Accrued liabilities |  |  | 50 |  |  |  | 139,663 |  |  |  | — |  |  |  | 139,713 |
Accrued interest payable |  |  | 15,017 |  |  |  | 7 |  |  |  | — |  |  |  | 15,024 |
Derivative instruments |  |  | — |  |  |  | 16,469 |  |  |  | — |  |  |  | 16,469 |
Other current liabilities |  |  | — |  |  |  | 316 |  |  |  | — |  |  |  | 316 |
Total current liabilities |  |  | 18,337 |  |  |  | 216,883 |  |  |  | (3,358 | ) |  |  | 231,862 |
Long-term debt |  |  | 800,000 |  |  |  | — |  |  |  | — |  |  |  | 800,000 |
Asset retirement obligations |  |  | — |  |  |  | 15,664 |  |  |  | — |  |  |  | 15,664 |
Derivative instruments |  |  | — |  |  |  | 6,434 |  |  |  | — |  |  |  | 6,434 |
Deferred income taxes |  |  | (19,021 | ) |  |  | 125,369 |  |  |  | — |  |  |  | 106,348 |
Other liabilities |  |  | — |  |  |  | 2,013 |  |  |  | — |  |  |  | 2,013 |
Total liabilities |  |  | 799,316 |  |  |  | 366,363 |  |  |  | (3,358 | ) |  |  | 1,162,321 |
Stockholders' equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital contributions from affiliates |  |  | — |  |  |  | 1,097,890 |  |  |  | (1,097,890 | ) |  |  | — |
Common stock, $0.01 par value; 300,000,000 shares authorized; 93,136,773 issued and 93,074,949 outstanding |  |  | 922 |  |  |  | — |  |  |  | — |  |  |  | 922 |
Treasury stock, at cost; 61,824 shares |  |  | (1,783 | ) |  |  | — |  |  |  | — |  |  |  | (1,783 | )
Additional paid-in-capital |  |  | 648,964 |  |  |  | 8,743 |  |  |  | (8,743 | ) |  |  | 648,964 |
Retained earnings |  |  | 2,986 |  |  |  | 34,826 |  |  |  | (34,826 | ) |  |  | 2,986 |
Total stockholders' equity |  |  | 651,089 |  |  |  | 1,141,459 |  |  |  | (1,141,459 | ) |  |  | 651,089 |
Total liabilities and stockholders' equity |  | $ | 1,450,405 |  |  | $ | 1,507,822 |  |  | $ | (1,144,817 | ) |  | $ | 1,813,410 |
Condensed Consolidating Balance Sheet (In thousands, except share data)
|  | December 31, 2011 |
|  | Parent/ Issuer |  |  | Combined Guarantor Subsidiaries |  |  | Intercompany Eliminations |  |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 443,482 |  |  | $ | 27,390 |  |  | $ | — |  |  | $ | 470,872 |
Short-term investments |  |  | 19,994 |  |  |  | — |  |  |  | — |  |  |  | 19,994 |
Accounts receivable – oil and gas revenues |  |  | — |  |  |  | 52,164 |  |  |  | — |  |  |  | 52,164 |
Accounts receivable – joint interest partners |  |  | 88 |  |  |  | 68,808 |  |  |  | (1,628 | ) |  |  | 67,268 |
Inventory |  |  | — |  |  |  | 3,543 |  |  |  | — |  |  |  | 3,543 |
Prepaid expenses |  |  | 309 |  |  |  | 1,831 |  |  |  | — |  |  |  | 2,140 |
Advances to joint interest partners |  |  | — |  |  |  | 3,935 |  |  |  | — |  |  |  | 3,935 |
Deferred income taxes |  |  | — |  |  |  | 3,233 |  |  |  | — |  |  |  | 3,233 |
Other current assets |  |  | 18 |  |  |  | 473 |  |  |  | — |  |  |  | 491 |
Total current assets |  |  | 463,891 |  |  |  | 161,377 |  |  |  | (1,628 | ) |  |  | 623,640 |
Property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) |  |  | — |  |  |  | 1,235,357 |  |  |  | — |  |  |  | 1,235,357 |
Other property and equipment |  |  | — |  |  |  | 20,859 |  |  |  | — |  |  |  | 20,859 |
Less: accumulated depreciation, depletion, amortization and impairment |  |  | — |  |  |  | (176,261 | ) |  |  | — |  |  |  | (176,261 | )
Total property, plant and equipment, net |  |  | — |  |  |  | 1,079,955 |  |  |  | — |  |  |  | 1,079,955 |
Investments in and advances to subsidiaries |  |  | 958,880 |  |  |  | — |  |  |  | (958,880 | ) |  |  | — |
Derivative instruments |  |  | — |  |  |  | 4,362 |  |  |  | — |  |  |  | 4,362 |
Deferred costs and other assets |  |  | 15,742 |  |  |  | 3,683 |  |  |  | — |  |  |  | 19,425 |
Total assets |  | $ | 1,438,513 |  |  | $ | 1,249,377 |  |  | $ | (960,508 | ) |  | $ | 1,727,382 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 1,563 |  |  | $ | 12,272 |  |  | $ | (1,628 | ) |  | $ | 12,207 |
Advances from joint interest partners |  |  | — |  |  |  | 9,064 |  |  |  | — |  |  |  | 9,064 |
Revenues and production taxes payable |  |  | — |  |  |  | 19,468 |  |  |  | — |  |  |  | 19,468 |
Accrued liabilities |  |  | 103 |  |  |  | 119,589 |  |  |  | — |  |  |  | 119,692 |
Accrued interest payable |  |  | 15,767 |  |  |  | 7 |  |  |  | — |  |  |  | 15,774 |
Derivative instruments |  |  | — |  |  |  | 5,907 |  |  |  | — |  |  |  | 5,907 |
Other current liabilities |  |  | — |  |  |  | 472 |  |  |  | — |  |  |  | 472 |
Total current liabilities |  |  | 17,433 |  |  |  | 166,779 |  |  |  | (1,628 | ) |  |  | 182,584 |
Long-term debt |  |  | 800,000 |  |  |  | — |  |  |  | — |  |  |  | 800,000 |
Asset retirement obligations |  |  | — |  |  |  | 13,075 |  |  |  | — |  |  |  | 13,075 |
Derivative instruments |  |  | — |  |  |  | 3,505 |  |  |  | — |  |  |  | 3,505 |
Deferred income taxes |  |  | (13,158 | ) |  |  | 106,141 |  |  |  | — |  |  |  | 92,983 |
Other liabilities |  |  | — |  |  |  | 997 |  |  |  | — |  |  |  | 997 |
Total liabilities |  |  | 804,275 |  |  |  | 290,497 |  |  |  | (1,628 | ) |  |  | 1,093,144 |
Stockholders' equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital contributions from affiliates |  |  | — |  |  |  | 941,575 |  |  |  | (941,575 | ) |  |  | — |
Common stock, $0.01 par value; 300,000,000 shares authorized; 92,483,393 issued and 92,460,914 outstanding |  |  | 921 |  |  |  | — |  |  |  | — |  |  |  | 921 |
Treasury stock, at cost; 22,479 shares |  |  | (602 | ) |  |  | — |  |  |  | — |  |  |  | (602 | )
Additional paid-in-capital |  |  | 647,374 |  |  |  | 8,743 |  |  |  | (8,743 | ) |  |  | 647,374 |
Retained earnings (deficit) |  |  | (13,455 | ) |  |  | 8,562 |  |  |  | (8,562 | ) |  |  | (13,455 | )
Total stockholders' equity |  |  | 634,238 |  |  |  | 958,880 |  |  |  | (958,880 | ) |  |  | 634,238 |
Total liabilities and stockholders' equity |  | $ | 1,438,513 |  |  | $ | 1,249,377 |  |  | $ | (960,508 | ) |  | $ | 1,727,382 |
Condensed Consolidating Statement of Operations (In thousands)
|  | Three Months Ended March 31, 2012 |
|  | Parent/ Issuer |  |  | Combined Guarantor Subsidiaries |  |  | Intercompany Eliminations |  |  | Consolidated |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oil and gas revenues |  | $ | — |  |  | $ | 137,906 |  |  | $ | — |  |  | $ | 137,906 |
Well services revenues |  |  | — |  |  |  | 660 |  |  |  | — |  |  |  | 660 |
Total revenues |  |  | — |  |  |  | 138,566 |  |  |  | — |  |  |  | 138,566 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lease operating expenses |  |  | — |  |  |  | 9,816 |  |  |  | — |  |  |  | 9,816 |
Well services operating expenses |  |  | — |  |  |  | 477 |  |  |  | — |  |  |  | 477 |
Marketing, transportation and gathering expenses |  |  | — |  |  |  | 2,569 |  |  |  | — |  |  |  | 2,569 |
Production taxes |  |  | — |  |  |  | 13,266 |  |  |  | — |  |  |  | 13,266 |
Depreciation, depletion and amortization |  |  | — |  |  |  | 38,886 |  |  |  | — |  |  |  | 38,886 |
Exploration expenses |  |  | — |  |  |  | 2,835 |  |  |  | — |  |  |  | 2,835 |
Impairment of oil and gas properties |  |  | — |  |  |  | 368 |  |  |  | — |  |  |  | 368 |
General and administrative expenses |  |  | 2,449 |  |  |  | 9,750 |  |  |  | — |  |  |  | 12,199 |
Total expenses |  |  | 2,449 |  |  |  | 77,967 |  |  |  | — |  |  |  | 80,416 |
Operating income (loss) |  |  | (2,449 | ) |  |  | 60,599 |  |  |  | — |  |  |  | 58,150 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity in earnings in subsidiaries |  |  | 26,264 |  |  |  | — |  |  |  | (26,264 | ) |  |  | — |
Net loss on derivative instruments |  |  | — |  |  |  | (18,586 | ) |  |  | — |  |  |  | (18,586 | )
Interest expense |  |  | (13,414 | ) |  |  | (485 | ) |  |  | — |  |  |  | (13,899 | )
Other income |  |  | 177 |  |  |  | 421 |  |  |  | — |  |  |  | 598 |
Total other income (expense) |  |  | 13,027 |  |  |  | (18,650 | ) |  |  | (26,264 | ) |  |  | (31,887 | )
Income before income taxes |  |  | 10,578 |  |  |  | 41,949 |  |  |  | (26,264 | ) |  |  | 26,263 |
Income tax benefit (expense) |  |  | 5,863 |  |  |  | (15,685 | ) |  |  | — |  |  |  | (9,822 | )
Net income |  | $ | 16,441 |  |  | $ | 26,264 |  |  | $ | (26,264 | ) |  | $ | 16,441 |
Condensed Consolidating Statement of Operations (In thousands)
|  | Three Months Ended March 31, 2011 |
|  | Parent/ Issuer |  |  | Combined Guarantor Subsidiaries |  |  | Intercompany Eliminations |  |  | Consolidated |
Oil and gas revenues |  | $ | — |  |  | $ | 58,744 |  |  | $ | — |  |  | $ | 58,744 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lease operating expenses |  |  | — |  |  |  | 5,630 |  |  |  | — |  |  |  | 5,630 |
Marketing, transportation and gathering expenses |  |  | — |  |  |  | 312 |  |  |  | — |  |  |  | 312 |
Production taxes |  |  | — |  |  |  | 6,083 |  |  |  | — |  |  |  | 6,083 |
Depreciation, depletion and amortization |  |  | — |  |  |  | 13,812 |  |  |  | — |  |  |  | 13,812 |
Exploration expenses |  |  | — |  |  |  | 32 |  |  |  | — |  |  |  | 32 |
Impairment of oil and gas properties |  |  | — |  |  |  | 1,381 |  |  |  | — |  |  |  | 1,381 |
General and administrative expenses |  |  | 1,263 |  |  |  | 4,687 |  |  |  | — |  |  |  | 5,950 |
Total expenses |  |  | 1,263 |  |  |  | 31,937 |  |  |  | — |  |  |  | 33,200 |
Operating income (loss) |  |  | (1,263 | ) |  |  | 26,807 |  |  |  | — |  |  |  | 25,544 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity in earnings in subsidiaries |  |  | (3,170 | ) |  |  | — |  |  |  | 3,170 |  |  |  | — |
Net loss on derivative instruments |  |  | — |  |  |  | (31,666 | ) |  |  | — |  |  |  | (31,666 | )
Interest expense |  |  | (4,941 | ) |  |  | (257 | ) |  |  | — |  |  |  | (5,198 | )
Other income |  |  | 293 |  |  |  | 19 |  |  |  | — |  |  |  | 312 |
Total other income (expense) |  |  | (7,818 | ) |  |  | (31,904 | ) |  |  | 3,170 |  |  |  | (36,552 | )
Loss before income taxes |  |  | (9,081 | ) |  |  | (5,097 | ) |  |  | 3,170 |  |  |  | (11,008 | )
Income tax benefit |  |  | 2,234 |  |  |  | 1,927 |  |  |  | — |  |  |  | 4,161 |
Net loss |  | $ | (6,847 | ) |  | $ | (3,170 | ) |  | $ | 3,170 |  |  | $ | (6,847 | )
Condensed Consolidating Statement of Cash Flows (In thousands)
|  | Three Months Ended March 31, 2012 |
|  | Parent/ Issuer |  |  | Combined Guarantor Subsidiaries |  |  | Intercompany Eliminations |  |  | Consolidated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 16,441 |  |  | $ | 26,264 |  |  | $ | (26,264 | ) |  | $ | 16,441 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries |  |  | (26,264 | ) |  |  | — |  |  |  | 26,264 |  |  |  | — |
Depreciation, depletion and amortization |  |  | — |  |  |  | 38,886 |  |  |  | — |  |  |  | 38,886 |
Impairment of oil and gas properties |  |  | — |  |  |  | 368 |  |  |  | — |  |  |  | 368 |
Deferred income taxes |  |  | (5,863 | ) |  |  | 15,685 |  |  |  | — |  |  |  | 9,822 |
Derivative instruments |  |  | — |  |  |  | 18,586 |  |  |  | — |  |  |  | 18,586 |
Stock-based compensation expenses |  |  | 1,591 |  |  |  | — |  |  |  | — |  |  |  | 1,591 |
Debt discount amortization and other |  |  | 480 |  |  |  | 168 |  |  |  | — |  |  |  | 648 |
Working capital and other changes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Change in accounts receivable |  |  | — |  |  |  | (27,768 | ) |  |  | 1,730 |  |  |  | (26,038 | )
Change in inventory |  |  | — |  |  |  | (9,641 | ) |  |  | — |  |  |  | (9,641 | )
Change in prepaid expenses |  |  | 155 |  |  |  | (124 | ) |  |  | — |  |  |  | 31 |
Change in other current assets |  |  | 10 |  |  |  | 473 |  |  |  | — |  |  |  | 483 |
Change in accounts payable and accrued liabilities |  |  | 904 |  |  |  | 11,601 |  |  |  | (1,730 | ) |  |  | 10,775 |
Change in other current liabilities |  |  | — |  |  |  | (188 | ) |  |  | — |  |  |  | (188 | )
Change in other liabilities |  |  | — |  |  |  | 1,001 |  |  |  | — |  |  |  | 1,001 |
Net cash provided by (used in) operating activities |  |  | (12,546 | ) |  |  | 75,311 |  |  |  | — |  |  |  | 62,765 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | — |  |  |  | (269,975 | ) |  |  | — |  |  |  | (269,975 | )
Derivative settlements |  |  | — |  |  |  | (1,291 | ) |  |  | — |  |  |  | (1,291 | )
Redemptions of short-term investments |  |  | 19,994 |  |  |  | — |  |  |  | — |  |  |  | 19,994 |
Advances to joint interest partners |  |  | — |  |  |  | 655 |  |  |  | — |  |  |  | 655 |
Advances from joint interest partners |  |  | — |  |  |  | 5,484 |  |  |  | — |  |  |  | 5,484 |
Net cash provided by (used in) investing activities |  |  | 19,994 |  |  |  | (265,127 | ) |  |  | — |  |  |  | (245,133 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of treasury stock |  |  | (1,181 | ) |  |  | — |  |  |  | — |  |  |  | (1,181 | )
Debt issuance costs |  |  | — |  |  |  | (25 | ) |  |  | — |  |  |  | (25 | )
Investment in / capital contributions from affiliates |  |  | (156,315 | ) |  |  | 156,315 |  |  |  | — |  |  |  | — |
Net cash provided by (used in) financing activities |  |  | (157,496 | ) |  |  | 156,290 |  |  |  | — |  |  |  | (1,206 | )
Decrease in cash and cash equivalents |  |  | (150,048 | ) |  |  | (33,526 | ) |  |  | — |  |  |  | (183,574 | )
Cash and cash equivalents at beginning of period |  |  | 443,482 |  |  |  | 27,390 |  |  |  | — |  |  |  | 470,872 |
Cash and cash equivalents at end of period |  | $ | 293,434 |  |  | $ | (6,136 | ) |  | $ | — |  |  | $ | 287,298 |
Condensed Consolidating Statement of Cash Flows (In thousands)
|  | Three Months Ended March 31, 2011 |
|  | Parent/ Issuer |  |  | Combined Guarantor Subsidiaries |  |  | Intercompany Eliminations |  |  | Consolidated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (6,847 | ) |  | $ | (3,170 | ) |  | $ | 3,170 |  |  | $ | (6,847 | )
Adjustments to reconcile net loss to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries |  |  | 3,170 |  |  |  | — |  |  |  | (3,170 | ) |  |  |  |
Depreciation, depletion and amortization |  |  | — |  |  |  | 13,812 |  |  |  | — |  |  |  | 13,812 |
Impairment of oil and gas properties |  |  | — |  |  |  | 1,381 |  |  |  | — |  |  |  | 1,381 |
Deferred income taxes |  |  | (2,234 | ) |  |  | (1,927 | ) |  |  | — |  |  |  | (4,161 | )
Derivative instruments |  |  | — |  |  |  | 31,666 |  |  |  | — |  |  |  | 31,666 |
Stock-based compensation expenses |  |  | 527 |  |  |  | — |  |  |  | — |  |  |  | 527 |
Debt discount amortization and other |  |  | 188 |  |  |  | 68 |  |  |  | — |  |  |  | 256 |
Working capital and other changes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Change in accounts receivable |  |  | — |  |  |  | (7,550 | ) |  |  | 883 |  |  |  | (6,667 | )
Change in inventory |  |  | — |  |  |  | (37 | ) |  |  | — |  |  |  | (37 | )
Change in prepaid expenses |  |  | 118 |  |  |  | 361 |  |  |  | — |  |  |  | 479 |
Change in other current assets |  |  | (113 | ) |  |  | — |  |  |  | — |  |  |  | (113 | )
Change in other assets |  |  | — |  |  |  | (3 | ) |  |  | — |  |  |  | (3 | )
Change in accounts payable and accrued liabilities |  |  | 5,681 |  |  |  | (12,246 | ) |  |  | (883 | ) |  |  | (7,448 | )
Net cash provided by operating activities |  |  | 490 |  |  |  | 22,355 |  |  |  | — |  |  |  | 22,845 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | — |  |  |  | (91,126 | ) |  |  | — |  |  |  | (91,126 | )
Derivative settlements |  |  | — |  |  |  | (512 | ) |  |  | — |  |  |  | (512 | )
Purchases of short-term investments |  |  | (114,974 | ) |  |  | — |  |  |  | — |  |  |  | (114,974 | )
Advances to joint interest partners |  |  | — |  |  |  | 885 |  |  |  | — |  |  |  | 885 |
Advances from joint interest partners |  |  | — |  |  |  | 4,938 |  |  |  | — |  |  |  | 4,938 |
Net cash used in investing activities |  |  | (114,974 | ) |  |  | (85,815 | ) |  |  | — |  |  |  | (200,789 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of senior notes |  |  | 400,000 |  |  |  | — |  |  |  | — |  |  |  | 400,000 |
Purchases of treasury stock |  |  | (559 | ) |  |  | — |  |  |  | — |  |  |  | (559 | )
Debt issuance costs |  |  | (9,650 | ) |  |  | (377 | ) |  |  | — |  |  |  | (10,027 | )
Investment in / capital contributions from subsidiaries |  |  | (49,999 | ) |  |  | 49,999 |  |  |  | — |  |  |  | — |
Net cash provided by financing activities |  |  | 339,792 |  |  |  | 49,622 |  |  |  | — |  |  |  | 389,414 |
Increase (decrease) in cash and cash equivalents |  |  | 225,308 |  |  |  | (13,838 | ) |  |  | — |  |  |  | 211,470 |
Cash and cash equivalents at beginning of period |  |  | 119,940 |  |  |  | 23,580 |  |  |  | — |  |  |  | 143,520 |
Cash and cash equivalents at end of period |  | $ | 345,248 |  |  | $ | 9,742 |  |  | $ | — |  |  | $ | 354,990 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 9 -Section 06 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 7 -Section 05 -Paragraph c Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24072-122690 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6921628&loc=d3e5283-111683 + Details
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