Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net income (loss) $ (42) $ 4,287
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, depletion and amortization 22,405 24,676
Accretion expense 1,098 1,135
Amortization of non-cash debt related items 228 225
Amortization of deferred credit (1,615) (1,538)
Non-cash gain on early extinguishment of debt 0 (1,366)
Equity in loss (earnings) of Medusa Spar LLC 3 (124)
Deferred income tax expense 494 1,754
Unrealized loss (gain) on derivative contracts (249) (3,897)
Non-cash expense related to equity share-based awards 734 722
Change in the fair value of liability share-based awards (852) 989
Payments to settle asset retirement obligations (615) (1,029)
Changes in current assets and liabilities    
Accounts receivable 789 (2,036)
Other current assets 598 63
Current liabilities (324) 4,756
Payments to settle vested liability share-based awards (239) (199)
Change in natural gas balancing receivable (118) (95)
Change in natural gas balancing payable (62) (17)
Change in other long-term liabilities (206) 0
Change in other assets, net (1,790) (865)
Cash provided by operating activities 20,237 27,441
Cash flows from investing activities:    
Capital expenditures (58,385) (72,538)
Acquisition (11,000) 0
Proceeds from sale of mineral interest and equipment 1,389 522
Distribution from Medusa Spar LLC 616 1,120
Cash used in investing activities (67,380) (70,896)
Cash flows from financing activities:    
Borrowings on senior secured revolving credit facility 31,000 10,000
Payments on senior secured revolving credit facility (41,000) 0
Redemption of 13% senior notes 0 (10,225)
Issuance of preferred stock 70,090 0
Payment of preferred stock dividends (680) 0
Equity issued related to employee stock plans 0 (2)
Cash provided by financing activities 59,410 (227)
Net change in cash and cash equivalents 12,267 (43,682)
Beginning of period cash and cash equivalents 1,139 43,795
End of period cash and cash equivalents $ 13,406 $ 113