Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income (loss) $ (91,813) $ (240,139) $ 37,766
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation, depletion and amortization 73,072 69,891 58,014
Write-down of oil and natural gas properties 95,788 208,435  
Accretion expense 958 660 826
Amortization of non-cash debt related items 3,115 3,123 1,272
Amortization of deferred credit     (487)
Deferred income tax (benefit) expense (14) 38,474 23,134
Net loss (gain) on derivatives, net of settlements 38,135 6,658 (27,650)
Gain on sale of other property and equipment     (1,080)
Non-cash (gain) loss on early extinguishment of debt 9,883   (151)
Non-cash expense related to equity share-based awards 558 221 1,126
Change in the fair value of liability share-based awards 6,953 6,612 3,936
Payments to settle asset retirement obligations (1,471) (3,258) (3,808)
Changes in current assets and liabilities:      
Accounts receivable (30,055) (4,761) (7,915)
Other current assets (786) (20) 622
Current liabilities 25,288 8,001 12,805
Change in other long-term liabilities 96 80 (106)
Change in other assets, net (840) 338 (448)
Payments to settle vested liability share-based awards related to early retirements   (3,538) (1,417)
Payments to settle vested liability share-based awards (10,300) (3,925) (2,052)
Net cash provided by operating activities 118,567 86,852 94,387
Cash flows from investing activities:      
Capital expenditures (190,032) (227,292) (232,596)
Acquisitions (654,679) (32,245) (222,883)
Acquisition deposit (46,138)    
Proceeds from sales of mineral interest and equipment 24,562 377 2,978
Net cash used in investing activities (866,287) (259,160) (452,501)
Cash flows from financing activities:      
Borrowings on senior secured revolving credit facility 217,000 181,000 132,500
Payments on senior secured revolving credit facility (257,000) (176,000) (119,500)
Borrowings on term loans     382,500
Payments on term loans (300,000)   (84,149)
Issuance of 6.125% senior unsecured notes due 2024 400,000    
Payment of deferred financing costs (10,793)   (19,779)
Redemption of 13% senior notes due 2016     (50,057)
Issuance of common stock 1,357,577 175,459 122,450
Payment of preferred stock dividends (7,295) (7,895) (7,895)
Net cash provided by financing activities 1,399,489 172,564 356,070
Net change in cash and cash equivalents 651,769 256 (2,044)
Balance, beginning of period 1,224 968 3,012
Balance, end of period $ 652,993 $ 1,224 $ 968