| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES: | |||||||||||
Net income (loss) | |||||||||||
-553,828 | -39,767 | 117,848 | -135,624 | -1,037,361 | 136,276 | 184,746 | 23,176 | 195,867 | 146,484 | -55,500 | 143,625 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||||
Depreciation, depletion, and amortization | |||||||||||
275,573 | 243,605 | 209,257 | 208,353 | 352,742 | 402,888 | 333,907 | 319,021 | 280,451 | 205,124 | 177,166 | 244,912 |
Impairments (Note 3) | |||||||||||
625,716 | 147,884 | 0 | 161,563 | 1,634,628 | 158,069 | 0 | 283,606 | - | - | - | - |
Amortization of debt issuance costs and debt discount (Note 8) | |||||||||||
2,241 | 2,198 | 2,159 | 2,122 | 2,088 | 2,055 | - | - | - | - | - | - |
Impairment of oil and natural gas properties (Note 2) | |||||||||||
- | - | - | - | - | - | - | - | 0 | 0 | 281,241 | 281,966 |
(Gain) loss on derivatives (Note 14) | |||||||||||
4,225 | -3,184 | 14,732 | -22,813 | 26,345 | 30,147 | -7,771 | 50,610 | 159 | 1,036 | -1,944 | 1,302 |
Derivative Instruments Not Designated Amount Paid (Received) During Period | |||||||||||
-16,196 | 22,803 | -173 | -9,658 | -46,615 | 6,038 | 1,161 | -51,853 | 2,254 | - | - | - |
(Gain) loss on disposition of assets | |||||||||||
-3,502 | 704 | 327 | 3,127 | -7,229 | 8,953 | 17,076 | 253 | -595 | 9,687 | 6,224 | 725 |
Deferred tax benefit (Note 10) | |||||||||||
-131,045 | -10,865 | -57,683 | -71,209 | -606,332 | 77,285 | 100,732 | 15,530 | 125,551 | 100,672 | -32,003 | 41,077 |
Employee stock compensation plans | |||||||||||
12,932 | 22,899 | 17,747 | 13,812 | 21,468 | 24,320 | 21,317 | 16,956 | 14,303 | 10,067 | 10,708 | 15,863 |
Contract assets and liabilities, net (Note 3) | |||||||||||
2,600 | 4,970 | 0 | 0 | - | - | - | - | - | - | - | - |
Bad debt expense | |||||||||||
527 | 81 | 348 | 785 | 1,191 | 3,562 | 0 | 90 | 260 | 0 | 975 | 1,543 |
ARO liability accretion (Note 9) | |||||||||||
2,343 | 2,393 | 2,886 | 2,779 | 3,453 | 4,599 | 5,450 | 4,615 | 3,838 | 2,937 | 2,585 | 2,174 |
Other, net | |||||||||||
-1,766 | -2,032 | 865 | 6,037 | 1,517 | -1,068 | -2,250 | -781 | -294 | 69 | 130 | -247 |
Changes in operating assets and liabilities increasing (decreasing) cash: | |||||||||||
Accounts receivable | |||||||||||
-33,323 | 7,967 | 27,941 | 11,796 | -105,426 | 60,800 | -2,967 | -13,994 | 38,731 | 58,965 | -116,472 | 34,495 |
Materials and supplies | |||||||||||
-24 | -32 | -2,835 | -225 | -1,507 | -2,602 | 2,435 | 361 | 1,886 | -598 | -3,009 | -3,635 |
Prepaid expenses and other | |||||||||||
-195 | 4,950 | -1,527 | -2,585 | -7,134 | -6,550 | -1,813 | 3,466 | -22,672 | -6,957 | 1,525 | 9,996 |
Accounts payable | |||||||||||
-15,558 | 28,013 | 8,192 | 27,400 | -20,306 | 4,715 | 15,715 | 10,187 | -1,064 | -8,913 | -7,068 | 3,685 |
Accrued liabilities | |||||||||||
3,142 | -5,465 | 6,996 | -4,388 | -22,920 | -1,297 | 17,198 | 6,911 | 9,245 | -3,555 | -1,410 | 684 |
Income taxes | |||||||||||
298 | -1,993 | 38 | 20,903 | -21,482 | -6,994 | - | - | - | - | - | - |
Contract advances | |||||||||||
-1,149 | -90 | 1,630 | -687 | -274 | -767 | 1,137 | -1,119 | -527 | -542 | 235 | -3,936 |
Net cash provided by operating activities | |||||||||||
269,396 | 352,747 | 270,088 | 240,130 | 446,944 | 708,993 | 674,331 | 690,911 | 608,455 | 390,072 | 490,475 | 689,913 |
INVESTING ACTIVITIES: | |||||||||||
Capital expeditures | |||||||||||
406,665 | 446,282 | 255,553 | 186,149 | 561,453 | 981,374 | 703,984 | 762,381 | 728,551 | 484,080 | 316,660 | 782,434 |
Producing property and other oil and natural gas acquisitions | |||||||||||
3,653 | 29,970 | 58,026 | 564 | 179 | 5,723 | 0 | 598,485 | 50,013 | 92,229 | 0 | 25,727 |
Payments to Acquire Other Property, Plant, and Equipment | |||||||||||
16,109 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Proceeds from disposition of property and equipment | |||||||||||
31,864 | 25,910 | 21,713 | 74,823 | 11,854 | 66,197 | 120,910 | 281,824 | 10,328 | 40,048 | 44,733 | 4,735 |
Other | |||||||||||
0 | 0 | 1,500 | -919 | 0 | -303 | -3,894 | 0 | 0 | - | 0 | 2,715 |
Net cash used in investing activities | |||||||||||
-394,563 | -450,342 | -293,366 | -110,971 | -549,778 | -920,597 | -579,180 | -1,079,042 | -768,236 | -536,261 | -271,927 | -806,141 |
FINANCING ACTIVITIES: | |||||||||||
Borrowings under line of credit | |||||||||||
493,500 | 99,100 | 343,900 | 251,398 | 618,500 | 725,800 | 222,500 | 735,300 | 441,500 | 286,900 | 95,600 | 397,600 |
Payments under line of credit | |||||||||||
368,800 | 277,100 | 326,700 | 371,600 | 503,500 | 559,800 | 293,600 | 714,200 | 554,500 | 153,900 | 265,100 | 318,700 |
Proceeds from issuance of senior subordinated notes, net of debt issuance costs and discount | |||||||||||
- | - | - | - | - | - | - | 386,274 | 243,950 | 0 | 0 | - |
Payments on finance leases | |||||||||||
4,001 | 3,843 | 3,694 | 3,694 | 3,549 | 2,392 | 0 | 0 | - | - | - | - |
Proceeds from common stock issued, net of issue costs (Note 19) | |||||||||||
0 | 0 | 18,623 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from exercise of stock options | |||||||||||
- | - | - | - | - | 1,083 | 574 | 215 | 679 | 149 | 282 | 2,507 |
Tax expense from stock compensation | |||||||||||
- | - | - | -376 | -3,207 | 1,614 | 8 | 121 | 1,174 | 40 | -252 | 1,449 |
Proceeds from investments of non-contolling interests | |||||||||||
0 | 300,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Payments Related to Tax Withholding for Share-based Compensation | |||||||||||
4,158 | 4,988 | 4,132 | - | - | - | - | - | - | - | - | - |
Transaction costs associated with sale of non-controlling interest | |||||||||||
0 | -2,503 | 0 | 0 | - | - | - | - | - | - | - | - |
Payments to Noncontrolling Interests | |||||||||||
918 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Bank overdrafts (Note 3) | |||||||||||
3,663 | -7,320 | -4,911 | -4,829 | -5,624 | 27,755 | -7,014 | -19,440 | 26,454 | 13,219 | -48,522 | 32,880 |
Net cash provided by financing activities | |||||||||||
119,286 | 103,346 | 23,086 | -129,101 | 102,620 | 194,060 | -77,532 | 388,270 | 159,257 | 146,408 | -217,992 | 115,736 |
Net increase (decrease) in cash and cash equivalents | |||||||||||
-5,881 | 5,751 | -192 | 58 | -214 | -17,544 | 17,619 | 139 | -524 | 219 | 556 | -492 |
Supplemental disclosure of cash flow information: | |||||||||||
Interest paid (net of capitalization) | |||||||||||
33,694 | 34,535 | 33,931 | 35,690 | 30,910 | 13,620 | 12,485 | 14,880 | 3,470 | 0 | 682 | 1,679 |
Income taxes | |||||||||||
273 | 3,600 | 0 | 42 | 3,540 | 15,898 | 9,100 | 5,116 | 655 | 3,143 | 12,302 | 45,700 |
Changes in accounts payable and accrued liabilities related to purchases of property, plant, and equipment | |||||||||||
54,549 | -18,119 | -20,574 | 21,190 | 105,157 | -31,968 | -6,550 | -4,753 | -28,036 | -29,700 | 18,285 | 7,068 |
Non-cash reductions to oil and natural gas properties related to asset retirement obligations | |||||||||||
-76 | 7,629 | 3,613 | 30,897 | 5,694 | 37,689 | 17,952 | -45,097 | 23,345 | 9,924 | - | - |
Non-cash additions to property, plant, and equipment acquired under capital leases | |||||||||||
- | - | - | - | - | -28,202 | 0 | 0 | - | - | - | - |