XML 19 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (189,492) $ (240,512)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion, amortization and impairment 572,187 511,209
Dry holes and abandonments 443  
Deferred income tax benefit (104,190) (109,045)
Stock-based compensation expense 35,101 21,130
Net gain on asset disposals (19,079) (9,808)
Tax expense on stock-based compensation   (4,895)
Amortization of debt issuance costs 260 2,184
Changes in operating assets and liabilities:    
Accounts receivable (246,407) 74,742
Income taxes receivable 1,499 28,524
Inventory and other assets (26,398) 7,876
Accounts payable 91,499 (19,652)
Accrued expenses 15,917 (7,616)
Other liabilities (75) (1,431)
Net cash provided by operating activities 131,265 252,706
Cash flows from investing activities:    
Acquisition, net of cash acquired (434,194) 155
Purchases of property and equipment (329,851) (80,511)
Proceeds from disposal of assets 39,672 18,384
Other investments (2,520)  
Net cash used in investing activities (726,893) (61,972)
Cash flows from financing activities:    
Proceeds from equity offering 471,570  
Purchases of treasury stock (6,809) (3,611)
Dividends paid (11,866) (20,618)
Debt issuance costs   (3,357)
Repayment of long-term debt   (255,000)
Proceeds from borrowings under revolving credit facility 282,000 95,000
Repayment of borrowings under revolving credit facility (138,000) (80,000)
Net cash provided by (used in) financing activities 596,895 (267,586)
Effect of foreign exchange rate changes on cash 1,420 478
Net increase (decrease) in cash and cash equivalents 2,687 (76,374)
Cash and cash equivalents at beginning of period 35,152 113,346
Cash and cash equivalents at end of period 37,839 36,972
Net cash (paid) received during the period for:    
Interest, net of capitalized interest of $781 in 2017 and $327 in 2016 (18,336) (21,973)
Income taxes 3,866 44,987
Non-cash investing and financing activities:    
Net increase in payables for purchases of property and equipment 48,919 16,884
Issuance of common stock for business acquisition 1,039,396 6,733
Net decrease in deposits on equipment purchases $ 1,023 $ 4,667