| 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 | ||||||||||
74,086 | 248,827 | 79,682 | -249,020 | -1,044,718 | -11,661 | 51,322 | 71,984 | 172,817 | 117,892 | -187,919 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation, depletion, amortization and accretion | ||||||||||
148,498 | 149,854 | 155,682 | 211,609 | 394,071 | 511,102 | 451,529 | 356,232 | 328,786 | 294,100 | 345,637 |
Ceiling test write-down of oil and natural gas properties | ||||||||||
- | - | - | 279,063 | 987,238 | 0 | 0 | - | - | - | 218,871 |
Gain on debt transactions | ||||||||||
- | 47,109 | 7,811 | 123,923 | - | - | - | - | -22,694 | 0 | - |
Amortization of debt items and other items | ||||||||||
5,514 | 2,850 | 1,715 | 2,548 | 4,411 | 701 | 1,645 | 2,575 | 2,010 | 1,338 | 1,838 |
Loss on extinguishment of debt | ||||||||||
- | - | - | - | - | - | - | - | - | - | 2,817 |
Share-based compensation | ||||||||||
3,690 | 3,540 | 7,191 | 11,013 | 10,242 | 14,744 | 11,525 | 12,398 | 9,710 | 5,533 | 6,380 |
Derivative loss (gain) | ||||||||||
-59,887 | 53,798 | 4,199 | -2,926 | 14,375 | 3,965 | -8,470 | -13,954 | 1,896 | -4,256 | -7,372 |
Derivatives cash receipts (payments), net | ||||||||||
13,941 | -28,164 | 4,199 | - | - | - | - | - | - | - | - |
Cash receipts on derivative settlements, net | ||||||||||
- | - | - | 4,746 | 6,703 | -5,318 | 8,589 | 7,664 | 9,873 | -874 | 6,679 |
Deferred income taxes | ||||||||||
-64,102 | 500 | 217 | 28,392 | -203,272 | -4,760 | 30,920 | 88,109 | 61,835 | -8,266 | -346 |
Other | ||||||||||
- | - | - | - | - | - | - | - | -102 | - | 998 |
Changes in operating assets and liabilities: | ||||||||||
Oil and natural gas receivables | ||||||||||
9,563 | 2,361 | 2,370 | 7,005 | -32,236 | -29,510 | -980 | -818 | 18,639 | 24,933 | 18,509 |
Joint interest receivables | ||||||||||
4,766 | -5,120 | -2,131 | -12 | -21,645 | 4,255 | -34,257 | 28,823 | -375 | -25,897 | -31,866 |
Insurance reimbursements | ||||||||||
- | - | -31,740 | - | - | - | - | - | -20,771 | -54,873 | -23,235 |
Income taxes | ||||||||||
52,214 | 11,028 | -1,063 | -64,274 | -7 | 3,143 | 44,328 | -58,011 | -7,124 | 104,067 | -52,100 |
Prepaid expenses and other assets | ||||||||||
9,346 | -3,383 | -3,238 | 14,946 | -17,816 | -15,012 | 10,044 | -7,440 | 7,809 | -4,536 | 749 |
Escrow deposit - Apache lawsuit | ||||||||||
- | - | 49,500 | - | - | - | - | - | - | - | - |
Asset retirement obligation settlements | ||||||||||
11,443 | 28,617 | 72,409 | 72,320 | 32,555 | 74,313 | 81,543 | 112,827 | 59,958 | 87,166 | -99,069 |
Cash advances from JV partners | ||||||||||
-15,347 | 16,629 | -437 | 4,420 | - | - | - | - | - | - | - |
Accounts payable, accrued liabilities and other | ||||||||||
-11,036 | 40,081 | 11,402 | 939 | -46,207 | 4,881 | 27,908 | 38,952 | 7,881 | -31,885 | -117,230 |
Other liabilities | ||||||||||
- | - | - | - | - | - | - | - | - | 3,656 | -147 |
Net cash provided by operating activities | ||||||||||
232,227 | 321,763 | 159,408 | 14,180 | 133,228 | 474,821 | 562,708 | 385,137 | 521,478 | 464,772 | 156,266 |
Investing activities: | ||||||||||
Investment in oil and natural gas properties and equipment | ||||||||||
125,706 | 106,191 | 106,174 | 83,800 | 230,161 | 554,378 | 551,954 | 479,313 | 281,779 | 178,709 | 273,713 |
Acquisition of property interests | ||||||||||
188,019 | 16,782 | - | - | - | 72,234 | 82,424 | 205,550 | 437,247 | 236,944 | 2,421 |
Changes in operating assets and liabilities associated with investing activities | ||||||||||
- | - | - | - | 55,425 | -37,450 | 1,350 | - | - | - | - |
Proceeds from sales of assets, net | ||||||||||
- | 56,588 | - | 1,500 | 372,939 | - | 21,008 | 30,453 | 15 | - | - |
Proceeds from sales of oil and natural gas properties and equipment | ||||||||||
- | - | - | - | - | - | - | - | - | 1,420 | 32,226 |
Proceeds from insurance | ||||||||||
- | - | - | - | - | - | - | - | - | - | 6,916 |
Purchases of furniture, fixtures and other | ||||||||||
89 | - | 933 | 96 | 1,278 | 3,340 | 1,435 | 3,031 | 3,660 | 760 | 705 |
Issuance of 8.50% Senior Notes | ||||||||||
- | - | - | - | - | - | - | 318,000 | 600,000 | 0 | - |
Net cash used in investing activities | ||||||||||
-313,814 | -66,385 | -107,107 | -82,396 | 86,075 | -592,502 | -616,155 | -657,441 | -722,671 | -414,993 | -237,697 |
Financing activities: | ||||||||||
Repurchase of 8.25% Senior Notes | ||||||||||
- | - | - | - | - | - | - | - | 450,000 | 0 | - |
Borrowings on credit facility | ||||||||||
150,000 | 61,000 | - | 340,000 | 263,000 | 556,000 | 563,000 | 732,000 | 623,000 | 627,500 | 205,441 |
Repayments on credit facility | ||||||||||
66,000 | 40,000 | - | 340,000 | 710,000 | 399,000 | 443,000 | 679,000 | 506,000 | 627,500 | 410,941 |
Issuance of Senior Second Lien Notes | ||||||||||
- | 625,000 | - | - | - | - | - | - | - | - | - |
Extinguishment of debt – principal | ||||||||||
- | 903,194 | - | - | - | - | - | - | - | - | - |
Extinguishment of debt – premiums | ||||||||||
- | 21,850 | - | - | - | - | - | - | - | - | - |
Payment of interest on 1.5 Lien Term Loan | ||||||||||
- | 6,623 | 8,227 | - | - | - | - | - | - | - | - |
Debt transactions costs | ||||||||||
939 | 17,457 | 421 | 18,464 | 6,669 | - | 3,892 | 8,510 | - | - | - |
Repurchase premium and debt issuance costs | ||||||||||
- | - | - | - | - | - | - | - | 32,288 | 0 | - |
Dividends to shareholders | ||||||||||
- | - | - | - | - | 30,260 | 58,846 | 82,832 | 58,756 | 59,609 | 9,158 |
Repurchases of common stock | ||||||||||
- | - | - | - | - | - | - | - | - | - | -24,167 |
Other | ||||||||||
-2,334 | -3,622 | -1,295 | -928 | -886 | -1,193 | -260 | 379 | 1,094 | 298 | 891 |
Net cash provided by (used in) financing activities | ||||||||||
80,727 | -321,143 | -23,479 | 53,038 | -157,555 | 125,547 | 57,002 | 280,037 | 177,050 | -59,311 | -237,934 |
(Decrease) increase in cash and cash equivalents | ||||||||||
-860 | -65,765 | 28,822 | -15,178 | 61,748 | 7,866 | 3,555 | 7,733 | -24,143 | -9,532 | -319,365 |
11.00% 1.5 Lien Term Loan, Due November 2019 | ||||||||||
Issuance of Senior Second Lien Notes/Lien Term Loan | ||||||||||
- | - | - | 75,000 | - | - | - | - | - | - | - |
Payment of interest | ||||||||||
- | - | - | 2,570 | - | - | - | - | - | - | - |
Second Lien PIK Toggle Notes [Member] | ||||||||||
Payment of interest on PIK Toggle Notes | ||||||||||
- | 9,725 | 7,335 | - | - | - | - | - | - | - | - |
Third Lien PIK Toggle Notes [Member] | ||||||||||
Payment of interest on PIK Toggle Notes | ||||||||||
- | 4,672 | 6,201 | - | - | - | - | - | - | - | - |