XML 45 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statement of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income $ 169,953 $ 51,851
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 91,272 66,261
Gain on sale of properties (183,393) 0
Impairment of oil and gas properties 762 498
Deferred income taxes 98,753 30,987
Derivative instruments 17,603 14,612
Stock-based compensation expenses 4,505 2,289
Debt discount amortization and other 1,487 746
Working capital and other changes:    
Change in accounts receivable (9,275) (3,360)
Change in inventory 790 (8,407)
Change in prepaid expenses (14,259) 293
Change in other current assets (29) (232)
Change in other assets (1,593) 0
Change in accounts payable and accrued liabilities 29,007 15,009
Change in other current liabilities 2,766 0
Change in other liabilities (82) 0
Net cash provided by operating activities 208,267 170,547
Cash flows from investing activities:    
Capital expenditures (280,895) (217,819)
Proceeds from sale of properties 321,943 0
Costs related to sale of properties (2,010) 0
Derivative settlements (2,239) 1,686
Advances from joint interest partners (1,898) (1,691)
Net cash provided by (used in) investing activities 34,901 (217,824)
Cash flows from financing activities:    
Principal payments on revolving credit facility (275,570) 0
Purchases of treasury stock (3,025) (156)
Debt issuance costs 0 (25)
Other (176) 0
Net cash used in financing activities (278,771) (181)
Decrease in cash and cash equivalents (35,603) (47,458)
Cash and cash equivalents:    
Beginning of period 91,901 213,447
End of period 56,298 165,989
Supplemental non-cash transactions:    
Change in accrued capital expenditures 39,516 13,735
Change in asset retirement obligations $ (128) $ 2,048