| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||||
Net Income (Loss) Attributable to Parent | ||||||||||
-55,777 | -93,991 | -222,792 | -283,780 | -69,836 | 279,370 | -91,044 | -67,028 | 22,357 | -245,672 | -79,747 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||
Depletion, depreciation and amortization (including deferred financing costs) | ||||||||||
573,118 | 339,214 | 265,407 | 150,608 | 166,290 | 208,628 | 233,598 | 194,691 | 156,662 | 31,250 | 4,403 |
Deferred income taxes | ||||||||||
-90,370 | 9,145 | 9,505 | -23,561 | 110,786 | 216,409 | 82,380 | 80,036 | 56,457 | -77,614 | 99 |
Unsuccessful well costs and leasehold impairments | ||||||||||
87,813 | 123,199 | 43,201 | 6,079 | 94,910 | 1,105 | 107,565 | 32,229 | 91,254 | 59,401 | -74 |
Change in fair value of derivatives | ||||||||||
-67,436 | 29,960 | -71,822 | -46,559 | 210,957 | 271,298 | -23,093 | -18,465 | -21,014 | -34,545 | - |
Cash settlements on derivatives, net (including $12.0 million and $(7.3) million on commodity hedges during 2020 and 2019) | ||||||||||
-31,458 | -137,942 | 25,888 | 188,895 | 224,741 | 4,460 | 33,411 | 28,594 | 19,203 | - | - |
Equity-based compensation | ||||||||||
32,370 | 35,230 | 39,913 | 40,084 | 75,057 | 79,541 | 69,026 | 83,423 | 50,966 | 13,791 | 3,468 |
Gain (Loss) on Disposition of Oil and Gas and Timber Property | ||||||||||
10,528 | 7,666 | 0 | 0 | 24,651 | 23,769 | - | - | - | - | - |
Doubtful accounts expense | ||||||||||
- | - | - | - | - | - | - | - | 39,782 | -39,782 | - |
Loss on extinguishment of debt | ||||||||||
-24,794 | -4,324 | 0 | 0 | -165 | -2,898 | - | -5,342 | -59,643 | - | - |
Distributions in excess of equity in earnings / (Undistributed equity in earnings) | ||||||||||
0 | 45 | -6,252 | 0 | 0 | - | - | - | - | - | - |
Other | ||||||||||
-9,069 | -2,865 | -5,952 | -13,355 | -7,875 | 3,875 | -4,916 | -7,890 | -2,953 | -721 | -2,287 |
Changes in assets and liabilities: | ||||||||||
Increase in receivables | ||||||||||
29,735 | -175,954 | -29,365 | 20,558 | -2,209 | 156,192 | -111,677 | -176,905 | 122,859 | 100,605 | 34,531 |
(Increase) decrease in inventories | ||||||||||
28,970 | -8,848 | -1,653 | 4,107 | 29,855 | 8,100 | 16,763 | 7,385 | -4,176 | 12,699 | 14,465 |
Decrease in prepaid expenses and other | ||||||||||
-34,586 | 18,731 | 31,710 | -17,557 | -512 | -1,732 | 16,540 | -3,443 | 635 | 12,429 | -61 |
Increase (decrease) in accounts payable | ||||||||||
-83,921 | 7,440 | -94,434 | -75,487 | 111,289 | 90,228 | -34,683 | -126,401 | 89,214 | 65,800 | 80,883 |
Decrease in accrued liabilities | ||||||||||
129,723 | -157,393 | 86,595 | -3,567 | -17,756 | 22,449 | 82,590 | -1,486 | -7,308 | 11,929 | 9,877 |
Net cash used in operating activities | ||||||||||
628,150 | 260,491 | 236,617 | 52,077 | 440,779 | 443,586 | 522,404 | 371,530 | 364,909 | -191,800 | -27,591 |
Investing activities | ||||||||||
Payments to Acquire Oil and Gas Equipment | ||||||||||
340,217 | 213,806 | 140,495 | 535,975 | 823,642 | 424,535 | 317,413 | 368,990 | 478,943 | 444,712 | 411,939 |
Other property | ||||||||||
11,796 | 7,935 | 2,858 | 1,998 | 1,483 | 2,383 | 4,970 | 9,994 | 4,303 | 1,452 | 6,376 |
Acquisition of oil and gas properties, net of cash acquired | ||||||||||
0 | 961,764 | 0 | 0 | - | - | - | - | - | - | - |
Equity method investment | ||||||||||
0 | 0 | 231,280 | 0 | 0 | - | - | - | - | - | - |
Return of investment from KTIPI | ||||||||||
0 | 184,664 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds on sale of assets | ||||||||||
15,000 | 13,703 | 222,068 | 210 | 28,692 | 58,315 | - | - | - | - | - |
Notes receivable from partners | ||||||||||
26,918 | 0 | 0 | - | - | - | - | - | -13,653 | 61,811 | 52,078 |
Restricted cash | ||||||||||
- | - | - | - | - | - | 1,750 | 23,678 | -84,453 | 82,000 | 30,000 |
Net cash used in investing activities | ||||||||||
-363,931 | -985,138 | -152,565 | -537,763 | -796,433 | -368,603 | -324,133 | -402,662 | -385,140 | -589,975 | -500,393 |
Borrowings under long-term debt | ||||||||||
175,000 | 1,175,000 | 200,000 | 450,000 | 100,000 | - | - | - | 1,503,000 | 760,000 | 285,000 |
Payments on long-term debt | ||||||||||
425,000 | 325,000 | 250,000 | 0 | 200,000 | 400,000 | 100,000 | 110,000 | 1,438,000 | - | - |
Net proceeds from issuance of senior notes | ||||||||||
641,875 | 0 | 0 | - | 206,774 | 294,000 | - | - | - | - | - |
Redemption of senior secured notes | ||||||||||
535,338 | 0 | 0 | - | - | - | - | - | - | - | - |
Purchase of treasury stock / tax withholdings | ||||||||||
1,983 | 206,051 | 2,194 | 1,981 | 18,110 | 11,096 | 13,101 | 8,378 | - | - | - |
Dividends | ||||||||||
72,599 | 0 | 0 | - | - | - | - | - | - | - | - |
Net proceeds from the initial public offering | ||||||||||
- | - | - | - | - | - | - | - | 580,374 | - | - |
Net proceeds from issuance of units | ||||||||||
- | - | - | - | - | - | - | - | - | - | 325,344 |
Deferred financing costs | ||||||||||
2,444 | 38,672 | 67 | 0 | 9,030 | 22,088 | 2,226 | 8,418 | 52,466 | 17,315 | 90,649 |
Net cash provided by financing activities | ||||||||||
-220,489 | 605,277 | -52,261 | 448,019 | 79,634 | -139,184 | -115,327 | -126,796 | 592,908 | 742,685 | 519,695 |
Net decrease in cash, cash equivalents and restricted cash | ||||||||||
43,730 | -119,370 | 31,791 | -37,667 | -276,020 | -64,201 | 82,944 | -157,928 | 572,677 | -39,090 | -8,289 |
Supplemental cash flow information | ||||||||||
Cash paid for: | ||||||||||
Interest, net of capitalized interest | ||||||||||
99,928 | 83,831 | 55,381 | 27,860 | 33,315 | 23,182 | 36,313 | 41,234 | 56,845 | 52,472 | 6,765 |
Income taxes | ||||||||||
43,909 | 45,984 | 48,815 | 13,997 | 35,857 | 108,068 | 68,437 | 22,020 | 15,550 | 762 | -65 |
Non-cash activity: | ||||||||||
Conversion of joint interest billings receivable to long-term note receivable | ||||||||||
- | - | - | 9,814 | 0 | - | - | - | - | - | - |
Contribution to equity method investment | ||||||||||
0 | 0 | 133,893 | 0 | 0 | - | - | - | - | - | - |
Dissolution of equity method investment | ||||||||||
0 | 0 | 122,407 | 0 | 0 | - | - | - | - | - | - |
Common stock issued for acquisition of oil and gas properties | ||||||||||
0 | 307,944 | 0 | 0 | - | - | - | - | - | - | - |
Notes receivable applied to FPSO purchase | ||||||||||
- | - | - | - | - | - | - | - | -102,783 | - | - |
Deemed payment and termination of notes receivable | ||||||||||
- | - | - | - | - | - | - | - | - | 90,197 | - |