v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES:      
Net (loss) income $ (174,104,000) $ 56,172,000 $ 72,256,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depletion, depreciation and amortization 109,319,000 106,802,000 76,956,000
Impairment of oil and gas properties 220,197,000 0 0
Amortization of debt issuance costs 1,561,000 1,546,000 1,048,000
Gain on debt extinguishment (10,563,000)    
Unrealized loss (gain) on commodity derivatives 33,214,000 (42,113,000) 4,596,000
Gain on sale of equity method investment     (90,743,000)
Exploration expense 1,836,000 3,831,000 2,238,000
Share-based compensation expense 7,954,000 8,247,000 5,901,000
Deferred income tax (benefit) expense (93,140,000) 33,717,000 42,078,000
Equity in losses (earnings) of investee   181,000 (156,000)
Other non-cash items (172,000) (179,000)  
Changes in operating assets and liabilities:      
Accounts receivable 7,878,000 3,262,000 (10,239,000)
Prepaid expenses and other current assets (325,000) (179,000) (45,000)
Accounts payable 964,000 (2,262,000) 1,478,000
Oil, NGL and gas sales payable (4,291,000) 2,435,000 1,141,000
Accrued liabilities 2,388,000 144,000 4,186,000
Cash provided by operating activities 102,716,000 171,604,000 110,695,000
INVESTING ACTIVITIES:      
Additions to oil and gas properties (151,178,000) (390,506,000) (296,409,000)
Proceeds from sale of equity method investment, net of contributions   (181,000) 100,791,000
Change in restricted cash   7,350,000 (7,350,000)
Additions to furniture, fixtures and equipment, net (67,000) (3,024,000) (429,000)
Change in working capital related to investing activities (66,102,000) 9,189,000 16,073,000
Cash used in investing activities (217,347,000) (377,172,000) (187,324,000)
FINANCING ACTIVITIES:      
Borrowings under credit facility 272,000,000 353,921,000 129,950,000
Repayment of amounts outstanding under credit facility (149,000,000) (203,921,000) (235,950,000)
Proceeds from issuance of senior notes     242,824,000
Extinguishment of senior notes (8,722,000)    
Tax withholdings related to restricted stock (210,000) (587,000) (1,188,000)
Proceeds from issuance of common stock upon exercise of stock options     58,000
Loan origination fees   (2,174,000) (1,071,000)
Change in working capital related to financing activities 731,000    
Cash provided by financing activities 114,799,000 147,239,000 134,623,000
CHANGE IN CASH AND CASH EQUIVALENTS 168,000 (58,329,000) 57,994,000
CASH AND CASH EQUIVALENTS, beginning of year 432,000 58,761,000 767,000
CASH AND CASH EQUIVALENTS, end of year 600,000 432,000 58,761,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid for income taxes   404,000  
Cash paid for interest 23,634,000 20,232,000 12,392,000
SUPPLEMENTAL DISCLOSURE OF NON-CASH TRANSACTION:      
Acquisition of oil and gas properties   510,000 132,000
Asset retirement obligations capitalized $ 151,000 $ 898,000 $ 584,000