XML 47 R34.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Condensed Consolidating Financial Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet
| June 30, 2016
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
ASSETS |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 85 |  |  | $ | 6,390 |  |  | $ | — |  |  | $ | 6,475 |
Accounts receivable – oil and gas revenues | — |  |  | 109,121 |  |  | — |  |  | 109,121 |
Accounts receivable – joint interest and other | — |  |  | 81,291 |  |  | — |  |  | 81,291 |
Accounts receivable – affiliates | 1,348 |  |  | 198,702 |  |  | (200,050 | ) |  | — |
Inventory | — |  |  | 9,018 |  |  | — |  |  | 9,018 |
Prepaid expenses | — |  |  | 5,838 |  |  | — |  |  | 5,838 |
Derivative instruments | — |  |  | 10,330 |  |  | — |  |  | 10,330 |
Other current assets | — |  |  | 4,164 |  |  | — |  |  | 4,164 |
Total current assets | 1,433 |  |  | 424,854 |  |  | (200,050 | ) |  | 226,237 |
Property, plant and equipment |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 6,402,648 |  |  | — |  |  | 6,402,648 |
Other property and equipment | — |  |  | 536,462 |  |  | — |  |  | 536,462 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (1,752,376 | ) |  | — |  |  | (1,752,376 | )
Total property, plant and equipment, net | — |  |  | 5,186,734 |  |  | — |  |  | 5,186,734 |
Investments in and advances to subsidiaries | 4,474,390 |  |  | — |  |  | (4,474,390 | ) |  | — |
Derivative instruments | — |  |  | 64 |  |  | — |  |  | 64 |
Deferred income taxes | 223,269 |  |  | — |  |  | (223,269 | ) |  | — |
Other assets | — |  |  | 22,504 |  |  | — |  |  | 22,504 |
Total assets | $ | 4,699,092 |  |  | $ | 5,634,156 |  |  | $ | (4,897,709 | ) |  | $ | 5,435,539 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 10,357 |  |  | $ | — |  |  | $ | 10,357 |
Accounts payable – affiliates | 198,702 |  |  | 1,348 |  |  | (200,050 | ) |  | — |
Revenues and production taxes payable | — |  |  | 138,451 |  |  | — |  |  | 138,451 |
Accrued liabilities | 31 |  |  | 128,253 |  |  | — |  |  | 128,284 |
Accrued interest payable | 47,643 |  |  | 28 |  |  | — |  |  | 47,671 |
Derivative instruments | — |  |  | 20,891 |  |  | — |  |  | 20,891 |
Advances from joint interest partners | — |  |  | 5,416 |  |  | — |  |  | 5,416 |
Other current liabilities | — |  |  | 15,001 |  |  | — |  |  | 15,001 |
Total current liabilities | 246,376 |  |  | 319,745 |  |  | (200,050 | ) |  | 366,071 |
Long-term debt | 2,092,361 |  |  | 35,000 |  |  | — |  |  | 2,127,361 |
Deferred income taxes | — |  |  | 751,297 |  |  | (223,269 | ) |  | 528,028 |
Asset retirement obligations | — |  |  | 36,390 |  |  | — |  |  | 36,390 |
Derivative instruments | — |  |  | 14,291 |  |  | — |  |  | 14,291 |
Other liabilities | — |  |  | 3,043 |  |  | — |  |  | 3,043 |
Total liabilities | 2,338,737 |  |  | 1,159,766 |  |  | (423,319 | ) |  | 3,075,184 |
Stockholders’ equity |  |  |  |  |  |  |
Capital contributions from affiliates | — |  |  | 3,380,427 |  |  | (3,380,427 | ) |  | — |
Common stock, $0.01 par value: 450,000,000 shares authorized; 181,200,581 shares issued and 180,399,060 shares outstanding | 1,777 |  |  | — |  |  | — |  |  | 1,777 |
Treasury stock, at cost: 801,521 shares | (15,140 | ) |  | — |  |  | — |  |  | (15,140 | )
Additional paid-in-capital | 1,693,583 |  |  | 8,743 |  |  | (8,743 | ) |  | 1,693,583 |
Retained earnings | 680,135 |  |  | 1,085,220 |  |  | (1,085,220 | ) |  | 680,135 |
Total stockholders’ equity | 2,360,355 |  |  | 4,474,390 |  |  | (4,474,390 | ) |  | 2,360,355 |
Total liabilities and stockholders’ equity | $ | 4,699,092 |  |  | $ | 5,634,156 |  |  | $ | (4,897,709 | ) |  | $ | 5,435,539 |
Condensed Consolidating Balance Sheet
| December 31, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
ASSETS |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 777 |  |  | $ | 8,953 |  |  | $ | — |  |  | $ | 9,730 |
Accounts receivable – oil and gas revenues | — |  |  | 96,495 |  |  | — |  |  | 96,495 |
Accounts receivable – joint interest and other | 15 |  |  | 100,899 |  |  | — |  |  | 100,914 |
Accounts receivable – affiliates | 1,248 |  |  | 247,488 |  |  | (248,736 | ) |  | — |
Inventory | — |  |  | 11,072 |  |  | — |  |  | 11,072 |
Prepaid expenses | 278 |  |  | 7,050 |  |  | — |  |  | 7,328 |
Derivative instruments | — |  |  | 139,697 |  |  | — |  |  | 139,697 |
Other current assets | — |  |  | 50 |  |  | — |  |  | 50 |
Total current assets | 2,318 |  |  | 611,704 |  |  | (248,736 | ) |  | 365,286 |
Property, plant and equipment |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 6,284,401 |  |  | — |  |  | 6,284,401 |
Other property and equipment | — |  |  | 443,265 |  |  | — |  |  | 443,265 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (1,509,424 | ) |  | — |  |  | (1,509,424 | )
Total property, plant and equipment, net | — |  |  | 5,218,242 |  |  | — |  |  | 5,218,242 |
Assets held for sale | — |  |  | 26,728 |  |  | — |  |  | 26,728 |
Investments in and advances to subsidiaries | 4,573,172 |  |  | — |  |  | (4,573,172 | ) |  | — |
Derivative instruments | — |  |  | 15,776 |  |  | — |  |  | 15,776 |
Deferred income taxes | 205,174 |  |  | — |  |  | (205,174 | ) |  | — |
Other assets | 100 |  |  | 23,243 |  |  | — |  |  | 23,343 |
Total assets | $ | 4,780,764 |  |  | $ | 5,895,693 |  |  | $ | (5,027,082 | ) |  | $ | 5,649,375 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 9,983 |  |  | $ | — |  |  | $ | 9,983 |
Accounts payable – affiliates | 247,488 |  |  | 1,248 |  |  | (248,736 | ) |  | — |
Revenue and production taxes payable | — |  |  | 132,356 |  |  | — |  |  | 132,356 |
Accrued liabilities | 10 |  |  | 167,659 |  |  | — |  |  | 167,669 |
Accrued interest payable | 49,340 |  |  | 73 |  |  | — |  |  | 49,413 |
Advances from joint interest partners | — |  |  | 4,647 |  |  | — |  |  | 4,647 |
Other current liabilities | — |  |  | 6,500 |  |  | — |  |  | 6,500 |
Total current liabilities | 296,838 |  |  | 322,466 |  |  | (248,736 | ) |  | 370,568 |
Long-term debt | 2,164,584 |  |  | 138,000 |  |  | — |  |  | 2,302,584 |
Deferred income taxes | — |  |  | 813,329 |  |  | (205,174 | ) |  | 608,155 |
Asset retirement obligations | — |  |  | 35,338 |  |  | — |  |  | 35,338 |
Liabilities held for sale | — |  |  | 10,228 |  |  | — |  |  | 10,228 |
Other liabilities | — |  |  | 3,160 |  |  | — |  |  | 3,160 |
Total liabilities | 2,461,422 |  |  | 1,322,521 |  |  | (453,910 | ) |  | 3,330,033 |
Stockholders’ equity |  |  |  |  |  |  |
Capital contributions from affiliates | — |  |  | 3,369,895 |  |  | (3,369,895 | ) |  | — |
Common stock, $0.01 par value: 300,000,000 shares authorized; 139,583,990 shares issued and 139,076,064 shares outstanding | 1,376 |  |  | — |  |  | — |  |  | 1,376 |
Treasury stock, at cost: 507,926 shares | (13,620 | ) |  | — |  |  | — |  |  | (13,620 | )
Additional paid-in-capital | 1,497,065 |  |  | 8,743 |  |  | (8,743 | ) |  | 1,497,065 |
Retained earnings | 834,521 |  |  | 1,194,534 |  |  | (1,194,534 | ) |  | 834,521 |
Total stockholders’ equity | 2,319,342 |  |  | 4,573,172 |  |  | (4,573,172 | ) |  | 2,319,342 |
Total liabilities and stockholders’ equity | $ | 4,780,764 |  |  | $ | 5,895,693 |  |  | $ | (5,027,082 | ) |  | $ | 5,649,375 |
Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations
| Three Months Ended June 30, 2016
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 159,337 |  |  | $ | — |  |  | $ | 159,337 |
Well services and midstream revenues | — |  |  | 19,743 |  |  | — |  |  | 19,743 |
Total revenues | — |  |  | 179,080 |  |  | — |  |  | 179,080 |
Operating expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 31,523 |  |  | — |  |  | 31,523 |
Well services and midstream operating expenses | — |  |  | 8,875 |  |  | — |  |  | 8,875 |
Marketing, transportation and gathering expenses | — |  |  | 6,491 |  |  | — |  |  | 6,491 |
Production taxes | — |  |  | 14,367 |  |  | — |  |  | 14,367 |
Depreciation, depletion and amortization | — |  |  | 122,488 |  |  | — |  |  | 122,488 |
Exploration expenses | — |  |  | 340 |  |  | — |  |  | 340 |
Impairment | — |  |  | 23 |  |  | — |  |  | 23 |
General and administrative expenses | 6,395 |  |  | 15,481 |  |  | — |  |  | 21,876 |
Total operating expenses | 6,395 |  |  | 199,588 |  |  | — |  |  | 205,983 |
Loss on sale of properties | — |  |  | (1,311 | ) |  | — |  |  | (1,311 | )
Operating loss | (6,395 | ) |  | (21,819 | ) |  | — |  |  | (28,214 | )
Other income (expense) |  |  |  |  |  |  |
Equity in loss of subsidiaries | (71,987 | ) |  | — |  |  | 71,987 |  |  | — |
Net loss on derivative instruments | — |  |  | (90,846 | ) |  | — |  |  | (90,846 | )
Interest expense, net of capitalized interest | (33,190 | ) |  | (1,789 | ) |  | — |  |  | (34,979 | )
Gain on extinguishment of debt | 11,642 |  |  | — |  |  | — |  |  | 11,642 |
Other income (expense) | — |  |  | (32 | ) |  | — |  |  | (32 | )
Total other income (expense) | (93,535 | ) |  | (92,667 | ) |  | 71,987 |  |  | (114,215 | )
Loss before income taxes | (99,930 | ) |  | (114,486 | ) |  | 71,987 |  |  | (142,429 | )
Income tax benefit | 9,999 |  |  | 42,499 |  |  | — |  |  | 52,498 |
Net loss | $ | (89,931 | ) |  | $ | (71,987 | ) |  | $ | 71,987 |  |  | $ | (89,931 | )
Condensed Consolidating Statement of Operations
| Three Months Ended June 30, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 214,110 |  |  | $ | — |  |  | $ | 214,110 |
Well services and midstream revenues | — |  |  | 15,936 |  |  | — |  |  | 15,936 |
Total revenues | — |  |  | 230,046 |  |  | — |  |  | 230,046 |
Operating expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 37,761 |  |  | — |  |  | 37,761 |
Well services and midstream operating expenses | — |  |  | 7,395 |  |  | — |  |  | 7,395 |
Marketing, transportation and gathering expenses | — |  |  | 7,570 |  |  | — |  |  | 7,570 |
Production taxes | — |  |  | 20,618 |  |  | — |  |  | 20,618 |
Depreciation, depletion and amortization | — |  |  | 119,218 |  |  | — |  |  | 119,218 |
Exploration expenses | — |  |  | 1,082 |  |  | — |  |  | 1,082 |
Rig termination | — |  |  | 2,815 |  |  | — |  |  | 2,815 |
Impairment | — |  |  | 19,516 |  |  | — |  |  | 19,516 |
General and administrative expenses | 6,325 |  |  | 15,183 |  |  | — |  |  | 21,508 |
Total operating expenses | 6,325 |  |  | 231,158 |  |  | — |  |  | 237,483 |
Operating loss | (6,325 | ) |  | (1,112 | ) |  | — |  |  | (7,437 | )
Other income (expense) |  |  |  |  |  |  |
Equity in loss of subsidiaries | (34,249 | ) |  | — |  |  | 34,249 |  |  | — |
Net loss on derivative instruments | — |  |  | (39,424 | ) |  | — |  |  | (39,424 | )
Interest expense, net of capitalized interest | (34,194 | ) |  | (3,211 | ) |  | — |  |  | (37,405 | )
Other income | 5 |  |  | 186 |  |  | — |  |  | 191 |
Total other income (expense) | (68,438 | ) |  | (42,449 | ) |  | 34,249 |  |  | (76,638 | )
Loss before income taxes | (74,763 | ) |  | (43,561 | ) |  | 34,249 |  |  | (84,075 | )
Income tax benefit | 21,533 |  |  | 9,312 |  |  | — |  |  | 30,845 |
Net loss | $ | (53,230 | ) |  | $ | (34,249 | ) |  | $ | 34,249 |  |  | $ | (53,230 | )
Condensed Consolidating Statement of Operations
| Six Months Ended June 30, 2016
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 276,652 |  |  | $ | — |  |  | $ | 276,652 |
Well services and midstream revenues | — |  |  | 32,711 |  |  | — |  |  | 32,711 |
Total revenues | — |  |  | 309,363 |  |  | — |  |  | 309,363 |
Operating expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 62,587 |  |  | — |  |  | 62,587 |
Well services and midstream operating expenses | — |  |  | 13,264 |  |  | — |  |  | 13,264 |
Marketing, transportation and gathering expenses | — |  |  | 15,043 |  |  | — |  |  | 15,043 |
Production taxes | — |  |  | 25,120 |  |  | — |  |  | 25,120 |
Depreciation, depletion and amortization | — |  |  | 244,937 |  |  | — |  |  | 244,937 |
Exploration expenses | — |  |  | 703 |  |  | — |  |  | 703 |
Rig termination | — |  |  | — |  |  | — |  |  | — |
Impairment | — |  |  | 3,585 |  |  | — |  |  | 3,585 |
General and administrative expenses | 13,846 |  |  | 32,396 |  |  | — |  |  | 46,242 |
Total operating expenses | 13,846 |  |  | 397,635 |  |  | — |  |  | 411,481 |
Loss on sale of properties | — |  |  | (1,311 | ) |  | — |  |  | (1,311 | )
Operating loss | (13,846 | ) |  | (89,583 | ) |  | — |  |  | (103,429 | )
Other income (expense) |  |  |  |  |  |  |
Equity in loss of subsidiaries | (109,314 | ) |  | — |  |  | 109,314 |  |  | — |
Net loss on derivative instruments | — |  |  | (76,471 | ) |  | — |  |  | (76,471 | )
Interest expense, net of capitalized interest | (68,022 | ) |  | (5,696 | ) |  | — |  |  | (73,718 | )
Gain on extinguishment of debt | 18,658 |  |  | — |  |  | — |  |  | 18,658 |
Other income | 43 |  |  | 404 |  |  | — |  |  | 447 |
Total other income (expense) | (158,635 | ) |  | (81,763 | ) |  | 109,314 |  |  | (131,084 | )
Loss before income taxes | (172,481 | ) |  | (171,346 | ) |  | 109,314 |  |  | (234,513 | )
Income tax benefit | 18,095 |  |  | 62,032 |  |  | — |  |  | 80,127 |
Net loss | $ | (154,386 | ) |  | $ | (109,314 | ) |  | $ | 109,314 |  |  | $ | (154,386 | )
Condensed Consolidating Statement of Operations
| Six Months Ended June 30, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 387,969 |  |  | $ | — |  |  | $ | 387,969 |
Well services and midstream revenues | — |  |  | 22,464 |  |  | — |  |  | 22,464 |
Total revenues | — |  |  | 410,433 |  |  | — |  |  | 410,433 |
Operating expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 76,886 |  |  | — |  |  | 76,886 |
Well services and midstream operating expenses | — |  |  | 9,347 |  |  | — |  |  | 9,347 |
Marketing, transportation and gathering expenses | — |  |  | 14,848 |  |  | — |  |  | 14,848 |
Production taxes | — |  |  | 37,239 |  |  | — |  |  | 37,239 |
Depreciation, depletion and amortization | — |  |  | 237,696 |  |  | — |  |  | 237,696 |
Exploration expenses | — |  |  | 1,925 |  |  | — |  |  | 1,925 |
Rig termination | — |  |  | 3,895 |  |  | — |  |  | 3,895 |
Impairment | — |  |  | 24,837 |  |  | — |  |  | 24,837 |
General and administrative expenses | 14,944 |  |  | 29,888 |  |  | — |  |  | 44,832 |
Total operating expenses | 14,944 |  |  | 436,561 |  |  | — |  |  | 451,505 |
Operating loss | (14,944 | ) |  | (26,128 | ) |  | — |  |  | (41,072 | )
Other income (expense) |  |  |  |  |  |  |
Equity in loss of subsidiaries | (21,630 | ) |  | — |  |  | 21,630 |  |  | — |
Net gain on derivative instruments | — |  |  | 7,648 |  |  | — |  |  | 7,648 |
Interest expense, net of capitalized interest | (69,415 | ) |  | (6,774 | ) |  | — |  |  | (76,189 | )
Other income | 4 |  |  | 117 |  |  | — |  |  | 121 |
Total other income (expense) | (91,041 | ) |  | 991 |  |  | 21,630 |  |  | (68,420 | )
Loss before income taxes | (105,985 | ) |  | (25,137 | ) |  | 21,630 |  |  | (109,492 | )
Income tax benefit | 34,714 |  |  | 3,507 |  |  | — |  |  | 38,221 |
Net loss | $ | (71,271 | ) |  | $ | (21,630 | ) |  | $ | 21,630 |  |  | $ | (71,271 | )
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows
| Six Months Ended June 30, 2016
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |
Net loss | $ | (154,386 | ) |  | $ | (109,314 | ) |  | $ | 109,314 |  |  | $ | (154,386 | )
Adjustments to reconcile net loss to cash provided by (used in) operating activities: |  |  |  |  |  |  |
Equity in loss of subsidiaries | 109,314 |  |  | — |  |  | (109,314 | ) |  | — |
Depreciation, depletion and amortization | — |  |  | 244,937 |  |  | — |  |  | 244,937 |
Gain on extinguishment of debt | (18,658 | ) |  | — |  |  | — |  |  | (18,658 | )
Loss on sale of properties | — |  |  | 1,311 |  |  | — |  |  | 1,311 |
Impairment | — |  |  | 3,585 |  |  | — |  |  | 3,585 |
Deferred income taxes | (18,095 | ) |  | (62,032 | ) |  | — |  |  | (80,127 | )
Derivative instruments | — |  |  | 76,471 |  |  | — |  |  | 76,471 |
Stock-based compensation expenses | 12,624 |  |  | 355 |  |  | — |  |  | 12,979 |
Deferred financing costs amortization and other | 3,360 |  |  | 3,192 |  |  | — |  |  | 6,552 |
Working capital and other changes: |  |  |  |  |  |  |
Change in accounts receivable | (85 | ) |  | 53,068 |  |  | (48,686 | ) |  | 4,297 |
Change in inventory | — |  |  | 2,054 |  |  | — |  |  | 2,054 |
Change in prepaid expenses | 278 |  |  | 1,145 |  |  | — |  |  | 1,423 |
Change in other current assets | — |  |  | (114 | ) |  | — |  |  | (114 | )
Change in other assets | 100 |  |  | — |  |  | — |  |  | 100 |
Change in accounts payable, interest payable and accrued liabilities | (50,462 | ) |  | (16,258 | ) |  | 48,686 |  |  | (18,034 | )
Change in other current liabilities | — |  |  | 9,001 |  |  | — |  |  | 9,001 |
Change in other liabilities | — |  |  | 10 |  |  | — |  |  | 10 |
Net cash provided by (used in) operating activities | (116,010 | ) |  | 207,411 |  |  | — |  |  | 91,401 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | — |  |  | (231,341 | ) |  | — |  |  | (231,341 | )
Proceeds from sale of properties | — |  |  | 11,679 |  |  | — |  |  | 11,679 |
Costs related to sale of properties | — |  |  | (310 | ) |  | — |  |  | (310 | )
Derivative settlements | — |  |  | 103,790 |  |  | — |  |  | 103,790 |
Advances from joint interest partners | — |  |  | 769 |  |  | — |  |  | 769 |
Net cash used in investing activities | — |  |  | (115,413 | ) |  | — |  |  | (115,413 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Repurchase of senior unsecured notes | (56,925 | ) |  | — |  |  | — |  |  | (56,925 | )
Proceeds from revolving credit facility | — |  |  | 359,000 |  |  | — |  |  | 359,000 |
Principal payments on revolving credit facility | — |  |  | (462,000 | ) |  | — |  |  | (462,000 | )
Deferred financing costs | — |  |  | (751 | ) |  | — |  |  | (751 | )
Proceeds from sale of common stock | 182,953 |  |  | — |  |  | — |  |  | 182,953 |
Purchases of treasury stock | (1,520 | ) |  | — |  |  | — |  |  | (1,520 | )
Investment in / capital contributions from subsidiaries | (9,190 | ) |  | 9,190 |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | 115,318 |  |  | (94,561 | ) |  | — |  |  | 20,757 |
Decrease in cash and cash equivalents | (692 | ) |  | (2,563 | ) |  | — |  |  | (3,255 | )
Cash and cash equivalents at beginning of period | 777 |  |  | 8,953 |  |  | — |  |  | 9,730 |
Cash and cash equivalents at end of period | $ | 85 |  |  | $ | 6,390 |  |  | $ | — |  |  | $ | 6,475 |
Condensed Consolidating Statement of Cash Flows
| Six Months Ended June 30, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |
Net loss | $ | (71,271 | ) |  | $ | (21,630 | ) |  | $ | 21,630 |  |  | $ | (71,271 | )
Adjustments to reconcile net loss to cash provided by (used in) operating activities: |  |  |  |  |  |  |
Equity in loss of subsidiaries | 21,630 |  |  | — |  |  | (21,630 | ) |  | — |
Depreciation, depletion and amortization | — |  |  | 237,696 |  |  | — |  |  | 237,696 |
Impairment | — |  |  | 24,837 |  |  | — |  |  | 24,837 |
Deferred income taxes | (34,714 | ) |  | (3,507 | ) |  | — |  |  | (38,221 | )
Derivative instruments | — |  |  | (7,648 | ) |  | — |  |  | (7,648 | )
Stock-based compensation expenses | 13,515 |  |  | 148 |  |  | — |  |  | 13,663 |
Deferred financing costs amortization and other | 2,255 |  |  | 2,804 |  |  | — |  |  | 5,059 |
Working capital and other changes: |  |  |  |  |  |  |
Change in accounts receivable | (256 | ) |  | 9,890 |  |  | 66,165 |  |  | 75,799 |
Change in inventory | — |  |  | 3,685 |  |  | — |  |  | 3,685 |
Change in prepaid expenses | 297 |  |  | 3,097 |  |  | — |  |  | 3,394 |
Change in other current assets | — |  |  | 5,538 |  |  | — |  |  | 5,538 |
Change in accounts payable, interest payable and accrued liabilities | 65,933 |  |  | (22,392 | ) |  | (66,165 | ) |  | (22,624 | )
Change in other liabilities | — |  |  | (21 | ) |  | — |  |  | (21 | )
Net cash provided by (used in) operating activities | (2,611 | ) |  | 232,497 |  |  | — |  |  | 229,886 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | — |  |  | (587,430 | ) |  | — |  |  | (587,430 | )
Derivative settlements | — |  |  | 213,336 |  |  | — |  |  | 213,336 |
Advances from joint interest partners | — |  |  | (406 | ) |  | — |  |  | (406 | )
Net cash used in investing activities | — |  |  | (374,500 | ) |  | — |  |  | (374,500 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from revolving credit facility | — |  |  | 320,000 |  |  | — |  |  | 320,000 |
Principal payments on revolving credit facility | — |  |  | (665,000 | ) |  | — |  |  | (665,000 | )
Deferred financing costs | — |  |  | (3,591 | ) |  | — |  |  | (3,591 | )
Proceeds from sale of common stock | 463,010 |  |  | — |  |  | — |  |  | 463,010 |
Purchases of treasury stock | (1,932 | ) |  | — |  |  | — |  |  | (1,932 | )
Investment in / capital contributions from subsidiaries | (458,465 | ) |  | 458,465 |  |  | — |  |  | — |
Net cash provided by financing activities | 2,613 |  |  | 109,874 |  |  | — |  |  | 112,487 |
Increase (decrease) in cash and cash equivalents | 2 |  |  | (32,129 | ) |  | — |  |  | (32,127 | )
Cash and cash equivalents at beginning of period | 776 |  |  | 45,035 |  |  | — |  |  | 45,811 |
Cash and cash equivalents at end of period | $ | 778 |  |  | $ | 12,906 |  |  | $ | — |  |  | $ | 13,684 |

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration