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Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet (In thousands, except share data)
| June 30, 2013
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 83,770 |  |  | $ | 77,831 |  |  | $ | — |  |  | $ | 161,601 |
Accounts receivable – oil and gas revenues | — |  |  | 130,518 |  |  | — |  |  | 130,518 |
Accounts receivable – joint interest partners | — |  |  | 92,785 |  |  | — |  |  | 92,785 |
Accounts receivable – from affiliates | 771 |  |  | 6,511 |  |  | (7,282 | ) |  | — |
Inventory | — |  |  | 16,385 |  |  | — |  |  | 16,385 |
Prepaid expenses | — |  |  | 6,121 |  |  | — |  |  | 6,121 |
Advances to joint interest partners | — |  |  | 1,319 |  |  | — |  |  | 1,319 |
Derivative instruments | — |  |  | 7,353 |  |  | — |  |  | 7,353 |
Other current assets | 3 |  |  | 2 |  |  | — |  |  | 5 |
Total current assets | 84,544 |  |  | 338,825 |  |  | (7,282 | ) |  | 416,087 |
Property, plant and equipment |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 2,675,902 |  |  | — |  |  | 2,675,902 |
Other property and equipment | — |  |  | 144,518 |  |  | — |  |  | 144,518 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (514,567 | ) |  | — |  |  | (514,567 | )
Total property, plant and equipment, net | — |  |  | 2,305,853 |  |  | — |  |  | 2,305,853 |
Investments in and advances to subsidiaries | 1,990,470 |  |  | — |  |  | (1,990,470 | ) |  | — |
Derivative instruments | — |  |  | 10,554 |  |  | — |  |  | 10,554 |
Deferred income taxes | 60,406 |  |  | — |  |  | (60,406 | ) |  | — |
Deferred costs and other assets | 19,450 |  |  | 6,200 |  |  | — |  |  | 25,650 |
Total assets | $ | 2,154,870 |  |  | $ | 2,661,432 |  |  | $ | (2,058,158 | ) |  | $ | 2,758,144 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |
Accounts payable | $ | 22 |  |  | $ | 30,660 |  |  | $ | — |  |  | $ | 30,682 |
Accounts payable – from affiliates | 6,511 |  |  | 771 |  |  | (7,282 | ) |  | — |
Advances from joint interest partners | — |  |  | 15,583 |  |  | — |  |  | 15,583 |
Revenues and production taxes payable | — |  |  | 102,661 |  |  | — |  |  | 102,661 |
Accrued liabilities | 27 |  |  | 180,961 |  |  | — |  |  | 180,988 |
Accrued interest payable | 29,097 |  |  | 36 |  |  | — |  |  | 29,133 |
Deferred income taxes | — |  |  | 1,030 |  |  | — |  |  | 1,030 |
Other current liabilities | — |  |  | 688 |  |  | — |  |  | 688 |
Total current liabilities | 35,657 |  |  | 332,390 |  |  | (7,282 | ) |  | 360,765 |
Long-term debt | 1,200,000 |  |  | — |  |  | — |  |  | 1,200,000 |
Asset retirement obligations | — |  |  | 26,268 |  |  | — |  |  | 26,268 |
Derivative instruments | — |  |  | 291 |  |  | — |  |  | 291 |
Deferred income taxes | — |  |  | 309,578 |  |  | (60,406 | ) |  | 249,172 |
Other liabilities | — |  |  | 2,435 |  |  | — |  |  | 2,435 |
Total liabilities | 1,235,657 |  |  | 670,962 |  |  | (67,688 | ) |  | 1,838,931 |
Stockholders’ equity |  |  |  |  |  |  |
Capital contributions from affiliates | — |  |  | 1,621,489 |  |  | (1,621,489 | ) |  | — |
Common stock, $0.01 par value; 300,000,000 shares authorized; 93,693,829 issued and 93,554,121 outstanding | 925 |  |  | — |  |  | — |  |  | 925 |
Treasury stock, at cost; 139,708 shares | (4,160 | ) |  | — |  |  | — |  |  | (4,160 | )
Additional paid-in-capital | 663,545 |  |  | 8,743 |  |  | (8,743 | ) |  | 663,545 |
Retained earnings | 258,903 |  |  | 360,238 |  |  | (360,238 | ) |  | 258,903 |
Total stockholders’ equity | 919,213 |  |  | 1,990,470 |  |  | (1,990,470 | ) |  | 919,213 |
Total liabilities and stockholders’ equity | $ | 2,154,870 |  |  | $ | 2,661,432 |  |  | $ | (2,058,158 | ) |  | $ | 2,758,144 |
| December 31, 2012
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 133,797 |  |  | $ | 79,650 |  |  | $ | — |  |  | $ | 213,447 |
Short-term investments | 25,891 |  |  | — |  |  | — |  |  | 25,891 |
Accounts receivable – oil and gas revenues | — |  |  | 110,341 |  |  | — |  |  | 110,341 |
Accounts receivable – joint interest partners | — |  |  | 99,194 |  |  | — |  |  | 99,194 |
Accounts receivable – from affiliates | 310 |  |  | 5,845 |  |  | (6,155 | ) |  | — |
Inventory | — |  |  | 20,707 |  |  | — |  |  | 20,707 |
Prepaid expenses | 313 |  |  | 1,457 |  |  | — |  |  | 1,770 |
Advances to joint interest partners | — |  |  | 1,985 |  |  | — |  |  | 1,985 |
Derivative instruments | — |  |  | 19,016 |  |  | — |  |  | 19,016 |
Other current assets | 235 |  |  | 100 |  |  | — |  |  | 335 |
Total current assets | 160,546 |  |  | 338,295 |  |  | (6,155 | ) |  | 492,686 |
Property, plant and equipment |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 2,348,128 |  |  | — |  |  | 2,348,128 |
Other property and equipment | — |  |  | 49,732 |  |  | — |  |  | 49,732 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (391,260 | ) |  | — |  |  | (391,260 | )
Total property, plant and equipment, net | — |  |  | 2,006,600 |  |  | — |  |  | 2,006,600 |
Investments in and advances to subsidiaries | 1,807,010 |  |  | — |  |  | (1,807,010 | ) |  | — |
Derivative instruments | — |  |  | 4,981 |  |  | — |  |  | 4,981 |
Deferred income taxes | 42,746 |  |  | — |  |  | (42,746 | ) |  | — |
Deferred costs and other assets | 20,748 |  |  | 3,779 |  |  | — |  |  | 24,527 |
Total assets | $ | 2,031,050 |  |  | $ | 2,353,655 |  |  | $ | (1,855,911 | ) |  | $ | 2,528,794 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |
Accounts payable | $ | 9 |  |  | $ | 12,482 |  |  | $ | — |  |  | $ | 12,491 |
Accounts payable – from affiliates | 5,845 |  |  | 310 |  |  | (6,155 | ) |  | — |
Advances from joint interest partners | — |  |  | 21,176 |  |  | — |  |  | 21,176 |
Revenues and production taxes payable | — |  |  | 71,553 |  |  | — |  |  | 71,553 |
Accrued liabilities | 100 |  |  | 189,763 |  |  | — |  |  | 189,863 |
Accrued interest payable | 30,091 |  |  | 5 |  |  | — |  |  | 30,096 |
Derivative instruments | — |  |  | 1,048 |  |  | — |  |  | 1,048 |
Deferred income taxes | — |  |  | 4,558 |  |  | — |  |  | 4,558 |
Total current liabilities | 36,045 |  |  | 300,895 |  |  | (6,155 | ) |  | 330,785 |
Long-term debt | 1,200,000 |  |  | — |  |  | — |  |  | 1,200,000 |
Asset retirement obligations | — |  |  | 22,956 |  |  | — |  |  | 22,956 |
Derivative instruments | — |  |  | 380 |  |  | — |  |  | 380 |
Deferred income taxes | — |  |  | 220,417 |  |  | (42,746 | ) |  | 177,671 |
Other liabilities | — |  |  | 1,997 |  |  | — |  |  | 1,997 |
Total liabilities | 1,236,045 |  |  | 546,645 |  |  | (48,901 | ) |  | 1,733,789 |
Stockholders’ equity |  |  |  |  |  |  |
Capital contributions from affiliates | — |  |  | 1,586,780 |  |  | (1,586,780 | ) |  | — |
Common stock, $0.01 par value; 300,000,000 shares authorized; 93,432,712 issued and 93,303,298 outstanding | 925 |  |  | — |  |  | — |  |  | 925 |
Treasury stock, at cost; 129,414 shares | (3,796 | ) |  | — |  |  | — |  |  | (3,796 | )
Additional paid-in-capital | 657,943 |  |  | 8,743 |  |  | (8,743 | ) |  | 657,943 |
Retained earnings | 139,933 |  |  | 211,487 |  |  | (211,487 | ) |  | 139,933 |
Total stockholders’ equity | 795,005 |  |  | 1,807,010 |  |  | (1,807,010 | ) |  | 795,005 |
Total liabilities and stockholders’ equity | $ | 2,031,050 |  |  | $ | 2,353,655 |  |  | $ | (1,855,911 | ) |  | $ | 2,528,794 |
Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations (In thousands)
| Three Months Ended June 30, 2013
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 241,842 |  |  | $ | — |  |  | $ | 241,842 |
Well services and midstream revenues | — |  |  | 12,740 |  |  | — |  |  | 12,740 |
Total revenues | — |  |  | 254,582 |  |  | — |  |  | 254,582 |
Expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 18,266 |  |  | — |  |  | 18,266 |
Well services and midstream operating expenses | — |  |  | 6,644 |  |  | — |  |  | 6,644 |
Marketing, transportation and gathering expenses | — |  |  | 10,779 |  |  | — |  |  | 10,779 |
Production taxes | — |  |  | 21,397 |  |  | — |  |  | 21,397 |
Depreciation, depletion and amortization | — |  |  | 66,790 |  |  | — |  |  | 66,790 |
Exploration expenses | — |  |  | 392 |  |  | — |  |  | 392 |
Impairment of oil and gas properties | — |  |  | 208 |  |  | — |  |  | 208 |
General and administrative expenses | 3,524 |  |  | 13,132 |  |  | — |  |  | 16,656 |
Total expenses | 3,524 |  |  | 137,608 |  |  | — |  |  | 141,132 |
Operating income (loss) | (3,524 | ) |  | 116,974 |  |  | — |  |  | 113,450 |
Other income (expense) |  |  |  |  |  |  |
Equity in earnings in subsidiaries | 82,506 |  |  | — |  |  | (82,506 | ) |  | — |
Net gain on derivative instruments | — |  |  | 12,591 |  |  | — |  |  | 12,591 |
Interest expense, net of capitalized interest | (20,159 | ) |  | (1,233 | ) |  | — |  |  | (21,392 | )
Other income | (738 | ) |  | 1,032 |  |  | — |  |  | 294 |
Total other income (expense) | 61,609 |  |  | 12,390 |  |  | (82,506 | ) |  | (8,507 | )
Income before income taxes | 58,085 |  |  | 129,364 |  |  | (82,506 | ) |  | 104,943 |
Income tax benefit (expense) | 9,034 |  |  | (46,858 | ) |  | — |  |  | (37,824 | )
Net income | $ | 67,119 |  |  | $ | 82,506 |  |  | $ | (82,506 | ) |  | $ | 67,119 |
Condensed Consolidating Statement of Operations (In thousands)
| Three Months Ended June 30, 2012
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 145,203 |  |  | $ | — |  |  | $ | 145,203 |
Well services revenues | — |  |  | 3,861 |  |  | — |  |  | 3,861 |
Total revenues | — |  |  | 149,064 |  |  | — |  |  | 149,064 |
Expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 12,029 |  |  | — |  |  | 12,029 |
Well services operating expenses | — |  |  | 1,207 |  |  | — |  |  | 1,207 |
Marketing, transportation and gathering expenses | — |  |  | 1,970 |  |  | — |  |  | 1,970 |
Production taxes | — |  |  | 13,720 |  |  | — |  |  | 13,720 |
Depreciation, depletion and amortization | — |  |  | 44,213 |  |  | — |  |  | 44,213 |
Impairment of oil and gas properties | — |  |  | 2,203 |  |  | — |  |  | 2,203 |
General and administrative expenses | 2,644 |  |  | 10,893 |  |  | — |  |  | 13,537 |
Total expenses | 2,644 |  |  | 86,235 |  |  | — |  |  | 88,879 |
Operating income (loss) | (2,644 | ) |  | 62,829 |  |  | — |  |  | 60,185 |
Other income (expense) |  |  |  |  |  |  |
Equity in earnings in subsidiaries | 86,024 |  |  | — |  |  | (86,024 | ) |  | — |
Net gain on derivative instruments | — |  |  | 74,595 |  |  | — |  |  | 74,595 |
Interest expense, net of capitalized interest | (13,414 | ) |  | (660 | ) |  | — |  |  | (14,074 | )
Other income | 118 |  |  | 658 |  |  | — |  |  | 776 |
Total other income (expense) | 72,728 |  |  | 74,593 |  |  | (86,024 | ) |  | 61,297 |
Income before income taxes | 70,084 |  |  | 137,422 |  |  | (86,024 | ) |  | 121,482 |
Income tax benefit (expense) | 5,959 |  |  | (51,398 | ) |  | — |  |  | (45,439 | )
Net income | $ | 76,043 |  |  | $ | 86,024 |  |  | $ | (86,024 | ) |  | $ | 76,043 |
Condensed Consolidating Statement of Operations (In thousands)
| Six Months Ended June 30, 2013
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 483,493 |  |  | $ | — |  |  | $ | 483,493 |
Well services and midstream revenues | — |  |  | 19,393 |  |  | — |  |  | 19,393 |
Total revenues | — |  |  | 502,886 |  |  | — |  |  | 502,886 |
Expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 37,755 |  |  | — |  |  | 37,755 |
Well services and midstream operating expenses | — |  |  | 9,558 |  |  | — |  |  | 9,558 |
Marketing, transportation and gathering expenses | — |  |  | 14,168 |  |  | — |  |  | 14,168 |
Production taxes | — |  |  | 43,486 |  |  | — |  |  | 43,486 |
Depreciation, depletion and amortization | — |  |  | 133,051 |  |  | — |  |  | 133,051 |
Exploration expenses | — |  |  | 2,249 |  |  | — |  |  | 2,249 |
Impairment of oil and gas properties | — |  |  | 706 |  |  | — |  |  | 706 |
General and administrative expenses | 6,400 |  |  | 24,110 |  |  | — |  |  | 30,510 |
Total expenses | 6,400 |  |  | 265,083 |  |  | — |  |  | 271,483 |
Operating income (loss) | (6,400 | ) |  | 237,803 |  |  | — |  |  | 231,403 |
Other income (expense) |  |  |  |  |  |  |
Equity in earnings in subsidiaries | 148,751 |  |  | — |  |  | (148,751 | ) |  | — |
Net loss on derivative instruments | — |  |  | (2,021 | ) |  | — |  |  | (2,021 | )
Interest expense, net of capitalized interest | (40,678 | ) |  | (1,897 | ) |  | — |  |  | (42,575 | )
Other income | (363 | ) |  | 1,437 |  |  | — |  |  | 1,074 |
Total other income (expense) | 107,710 |  |  | (2,481 | ) |  | (148,751 | ) |  | (43,522 | )
Income before income taxes | 101,310 |  |  | 235,322 |  |  | (148,751 | ) |  | 187,881 |
Income tax benefit (expense) | 17,660 |  |  | (86,571 | ) |  | — |  |  | (68,911 | )
Net income | $ | 118,970 |  |  | $ | 148,751 |  |  | $ | (148,751 | ) |  | $ | 118,970 |
Condensed Consolidating Statement of Operations (In thousands)
| Six Months Ended June 30, 2012
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 283,109 |  |  | $ | — |  |  | $ | 283,109 |
Well services and midstream revenues | — |  |  | 4,521 |  |  | — |  |  | 4,521 |
Total revenues | — |  |  | 287,630 |  |  | — |  |  | 287,630 |
Expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 21,845 |  |  | — |  |  | 21,845 |
Well services and midstream operating expenses | — |  |  | 1,684 |  |  | — |  |  | 1,684 |
Marketing, transportation and gathering expenses | — |  |  | 4,539 |  |  | — |  |  | 4,539 |
Production taxes | — |  |  | 26,986 |  |  | — |  |  | 26,986 |
Depreciation, depletion and amortization | — |  |  | 83,099 |  |  | — |  |  | 83,099 |
Exploration expenses | — |  |  | 2,835 |  |  | — |  |  | 2,835 |
Impairment of oil and gas properties | — |  |  | 2,571 |  |  | — |  |  | 2,571 |
General and administrative expenses | 5,090 |  |  | 20,646 |  |  | — |  |  | 25,736 |
Total expenses | 5,090 |  |  | 164,205 |  |  | — |  |  | 169,295 |
Operating income (loss) | (5,090 | ) |  | 123,425 |  |  | — |  |  | 118,335 |
Other income (expense) |  |  |  |  |  |  |
Equity in earnings in subsidiaries | 112,286 |  |  | — |  |  | (112,286 | ) |  | — |
Net gain on derivative instruments | — |  |  | 56,009 |  |  | — |  |  | 56,009 |
Interest expense, net of capitalized interest | (26,829 | ) |  | (1,144 | ) |  | — |  |  | (27,973 | )
Other income | 295 |  |  | 1,079 |  |  | — |  |  | 1,374 |
Total other income (expense) | 85,752 |  |  | 55,944 |  |  | (112,286 | ) |  | 29,410 |
Income before income taxes | 80,662 |  |  | 179,369 |  |  | (112,286 | ) |  | 147,745 |
Income tax benefit (expense) | 11,822 |  |  | (67,083 | ) |  | — |  |  | (55,261 | )
Net income | $ | 92,484 |  |  | $ | 112,286 |  |  | $ | (112,286 | ) |  | $ | 92,484 |
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows (In thousands)
| Six Months Ended June 30, 2013
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |
Net income | $ | 118,970 |  |  | $ | 148,751 |  |  | $ | (148,751 | ) |  | $ | 118,970 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |
Equity in earnings of subsidiaries | (148,751 | ) |  | — |  |  | 148,751 |  |  | — |
Depreciation, depletion and amortization | — |  |  | 133,051 |  |  | — |  |  | 133,051 |
Impairment of oil and gas properties | — |  |  | 706 |  |  | — |  |  | 706 |
Deferred income taxes | (17,660 | ) |  | 85,634 |  |  | — |  |  | 67,974 |
Derivative instruments | — |  |  | 2,021 |  |  | — |  |  | 2,021 |
Stock-based compensation expenses | 5,263 |  |  | 108 |  |  | — |  |  | 5,371 |
Debt discount amortization and other | 2,189 |  |  | (436 | ) |  | — |  |  | 1,753 |
Working capital and other changes: |  |  |  |  |  |  |
Change in accounts receivable | (461 | ) |  | (13,972 | ) |  | 665 |  |  | (13,768 | )
Change in inventory | — |  |  | (4,200 | ) |  | — |  |  | (4,200 | )
Change in prepaid expenses | 313 |  |  | (4,715 | ) |  | — |  |  | (4,402 | )
Change in other current assets | 232 |  |  | 98 |  |  | — |  |  | 330 |
Change in accounts payable and accrued liabilities | (388 | ) |  | 49,754 |  |  | (665 | ) |  | 48,701 |
Change in other current liabilities | — |  |  | 688 |  |  | — |  |  | 688 |
Change in other liabilities | — |  |  | 612 |  |  | — |  |  | 612 |
Net cash provided by (used in) operating activities | (40,293 | ) |  | 398,100 |  |  | — |  |  | 357,807 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | — |  |  | (429,296 | ) |  | — |  |  | (429,296 | )
Derivative settlements | — |  |  | 2,932 |  |  | — |  |  | 2,932 |
Redemptions of short-term investments | 25,000 |  |  | — |  |  | — |  |  | 25,000 |
Advances to joint interest partners | — |  |  | 666 |  |  | — |  |  | 666 |
Advances from joint interest partners | — |  |  | (5,593 | ) |  | — |  |  | (5,593 | )
Net cash provided by (used in) investing activities | 25,000 |  |  | (431,291 | ) |  | — |  |  | (406,291 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Purchases of treasury stock | (364 | ) |  | — |  |  | — |  |  | (364 | )
Debt issuance costs | — |  |  | (2,998 | ) |  | — |  |  | (2,998 | )
Investment in / capital contributions from affiliates | (34,370 | ) |  | 34,370 |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | (34,734 | ) |  | 31,372 |  |  | — |  |  | (3,362 | )
Decrease in cash and cash equivalents | (50,027 | ) |  | (1,819 | ) |  | — |  |  | (51,846 | )
Cash and cash equivalents at beginning of period | 133,797 |  |  | 79,650 |  |  | — |  |  | 213,447 |
Cash and cash equivalents at end of period | $ | 83,770 |  |  | $ | 77,831 |  |  | $ | — |  |  | $ | 161,601 |
Condensed Consolidating Statement of Cash Flows (In thousands)
| Six Months Ended June 30, 2012
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |
Net income | $ | 92,484 |  |  | $ | 112,286 |  |  | $ | (112,286 | ) |  | $ | 92,484 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |
Equity in earnings of subsidiaries | (112,286 | ) |  | — |  |  | 112,286 |  |  | — |
Depreciation, depletion and amortization | — |  |  | 83,099 |  |  | — |  |  | 83,099 |
Impairment of oil and gas properties | — |  |  | 2,571 |  |  | — |  |  | 2,571 |
Deferred income taxes | (11,822 | ) |  | 66,983 |  |  | — |  |  | 55,161 |
Derivative instruments | — |  |  | (56,009 | ) |  | — |  |  | (56,009 | )
Stock-based compensation expenses | 3,793 |  |  | 105 |  |  | — |  |  | 3,898 |
Debt discount amortization and other | 960 |  |  | 305 |  |  | — |  |  | 1,265 |
Working capital and other changes: |  |  |  |  |  |  |
Change in accounts receivable | (178 | ) |  | (28,661 | ) |  | 1,999 |  |  | (26,840 | )
Change in inventory | — |  |  | (21,636 | ) |  | — |  |  | (21,636 | )
Change in prepaid expenses | 246 |  |  | 1,254 |  |  | — |  |  | 1,500 |
Change in other current assets | 17 |  |  | 473 |  |  | — |  |  | 490 |
Change in other assets | (7,305 | ) |  | (60 | ) |  | — |  |  | (7,365 | )
Change in accounts payable and accrued liabilities | 9,657 |  |  | 32,364 |  |  | (1,999 | ) |  | 40,022 |
Change in other current liabilities | — |  |  | 2,470 |  |  | — |  |  | 2,470 |
Change in other liabilities | — |  |  | 750 |  |  | — |  |  | 750 |
Net cash provided by (used in) operating activities | (24,434 | ) |  | 196,294 |  |  | — |  |  | 171,860 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | — |  |  | (440,781 | ) |  | — |  |  | (440,781 | )
Derivative settlements | — |  |  | (2,465 | ) |  | — |  |  | (2,465 | )
Redemptions of short-term investments | 19,994 |  |  | — |  |  | — |  |  | 19,994 |
Advances to joint interest partners | — |  |  | 1,978 |  |  | — |  |  | 1,978 |
Advances from joint interest partners | — |  |  | 19,380 |  |  | — |  |  | 19,380 |
Net cash provided by (used in) investing activities | 19,994 |  |  | (421,888 | ) |  | — |  |  | (401,894 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Purchases of treasury stock | (1,206 | ) |  | — |  |  | — |  |  | (1,206 | )
Debt issuance costs | (46 | ) |  | (700 | ) |  | — |  |  | (746 | )
Investment in / capital contributions from affiliates | (242,130 | ) |  | 242,130 |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | (243,382 | ) |  | 241,430 |  |  | — |  |  | (1,952 | )
Increase (decrease) in cash and cash equivalents | (247,822 | ) |  | 15,836 |  |  | — |  |  | (231,986 | )
Cash and cash equivalents at beginning of period | 443,482 |  |  | 27,390 |  |  | — |  |  | 470,872 |
Cash and cash equivalents at end of period | $ | 195,660 |  |  | $ | 43,226 |  |  | $ | — |  |  | $ | 238,886 |

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