v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
OPERATING ACTIVITIES:      
Net income $ 6,384 $ 7,242 $ 7,462
Adjustments to reconcile net income to net cash provided by operating activities:      
Depletion, depreciation and amortization 60,381 32,475 22,224
Unrealized (gain) loss on commodity derivatives (3,874) 347 (788)
Impairment   18,476 2,622
Gain on sale of oil and gas properties, net of foreign currency transaction loss   (248)  
Exploration expense 4,550 9,546 2,589
Share-based compensation expense 7,465 4,683 2,628
Deferred income taxes 3,338 3,488 4,100
Equity in losses of investee 108    
Changes in operating assets and liabilities:      
Accounts receivable (2,550) 6,168 (6,581)
Prepaid expenses and other current assets 296 378 527
Accounts payable 9,271 (151) 6,083
Oil, NGL and gas sales payable 212 (786) 1,760
Accrued liabilities 5,004 14,152 (249)
Cash provided by operating activities 90,585 95,770 42,377
INVESTING ACTIVITIES:      
Additions to oil and gas properties (296,927) (284,574) (91,016)
Contribution to equity method investment (10,000)    
Proceeds from gain on sale of oil and gas properties, net   360  
Additions to furniture, fixtures and equipment, net (487) (544) (330)
Cash used in investing activities (307,414) (284,758) (91,346)
FINANCING ACTIVITIES:      
Borrowings under credit facility 304,600 246,800 121,800
Repayment of amounts outstanding under credit facility (242,400) (203,000) (154,119)
Proceeds from issuance of common stock, net offering costs 154,417 122,150 101,764
Proceeds from issuance of common stock upon exercise of stock options 798 1,009 751
Loan origination fees (120) (1,116) (448)
Cash provided by financing activities 217,295 165,843 69,748
CHANGE IN CASH AND CASH EQUIVALENTS 466 (23,145) 20,779
EFFECT OF FOREIGN CURRENCY TRANSLATION ON CASH AND CASH EQUIVALENTS   (19) 1
CASH AND CASH EQUIVALENTS, beginning of year 301 23,465 2,685
CASH AND CASH EQUIVALENTS, end of year 767 301 23,465
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid for interest 4,192 2,856 1,920
SUPPLEMENTAL DISCLOSURE OF NON-CASH TRANSACTION:      
Acquisition of oil and gas properties   547 132
Asset retirement obligations capitalized $ 409 $ 1,190 $ 604