Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income $ 18,804 $ 1,040
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, depletion and amortization 39,493 34,668
Accretion expense 603 1,556
Amortization of non-cash debt related items 494 348
Amortization of deferred credit (433) (2,448)
Equity in earnings of Medusa Spar LLC   (14)
Deferred income tax expense 12,630 950
Net loss (gain) on derivatives, net of settlements (5,728) 2,929
Gain on sale of other property and equipment (1,080)  
Non-cash gain on early debt extinguishment (3,205)  
Non-cash expense related to equity share-based awards 432 1,335
Change in the fair value of liability share-based awards 6,571 1,076
Payments to settle asset retirement obligations (3,283) (701)
Changes in current assets and liabilities:    
Accounts receivable (8,016) (3,455)
Other current assets 802 (236)
Current liabilities 3,449 1,969
Payments to settle vested liability share-based awards (3,469) (239)
Change in other long-term liabilities   (258)
Change in other assets, net (367) (3,306)
Net cash provided by operating activities 57,697 35,214
Cash flows from investing activities:    
Capital expenditures (188,793) (101,067)
Acquisition   (11,000)
Deposit on acquisition (10,629)  
Proceeds from sale of mineral interests and equipment 1,991 1,389
Distribution from Medusa Spar LLC   813
Net cash used in investing activities (197,431) (109,865)
Cash flows from financing activities:    
Borrowings on debt 200,000 48,000
Payment of deferred financing costs (3,068)  
Payments on debt (169,610) (41,000)
Issuance of preferred stock   70,035
Issuance of common stock 122,514  
Payment of preferred stock dividends (5,921) (2,654)
Cash flows from financing activities: 143,915 74,381
Net change in cash and cash equivalents 4,181 (270)
Balance, beginning of period 3,012 1,139
Balance, end of period $ 7,193 $ 869