| Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 | Dec'16 | Sep'16 | Jun'16 | Mar'16 | Dec'15 | Sep'15 | Jun'15 | Mar'15 | Dec'14 | Sep'14 | Jun'14 | Mar'14 | Dec'13 | Sep'13 | Jun'13 | Mar'13 | Dec'12 | Sep'12 | Jun'12 | Mar'12 | Dec'11 | Sep'11 | Jun'11 | Mar'11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating activities: | |||||||||||||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||||||||
9,559 | 75,899 | 36,389 | -47,761 | 138,844 | 46,260 | 36,083 | 27,640 | 23,365 | -1,297 | 33,315 | 24,299 | 16,483 | 45,928 | -120,922 | -190,509 | -51,606 | -477,568 | -260,449 | -255,095 | -33,371 | 684 | 9,837 | 11,189 | -11,886 | 14,194 | 22,396 | 26,618 | 16,669 | -1,470 | 53,567 | 3,218 | 46,065 | 52,928 | 55,175 | 18,649 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||||||||||||||||||||
Depreciation, depletion, amortization and accretion | |||||||||||||||||||||||||||||||||||
37,818 | 38,841 | 38,073 | 33,766 | 35,047 | 36,969 | 39,757 | 38,081 | 38,839 | 36,489 | 40,364 | 39,990 | 38,883 | 51,500 | 57,493 | 63,733 | 67,933 | 97,329 | 103,342 | 125,467 | 130,889 | 128,671 | 128,236 | 123,306 | 138,618 | 104,144 | 99,895 | 108,872 | 104,338 | 77,462 | 85,941 | 88,491 | 86,869 | 84,455 | 83,370 | 74,092 |
Ceiling test write-down of oil and natural gas properties | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 0 | 57,912 | 104,592 | 116,559 | 32,388 | 441,688 | 252,772 | 260,390 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Amortization of debt items and other items | |||||||||||||||||||||||||||||||||||
1,600 | 1,429 | 1,333 | 1,152 | 1,054 | 670 | 660 | 466 | 444 | 435 | 424 | 412 | 413 | 255 | 196 | 1,684 | 1,549 | 430 | 2,276 | 156 | 164 | 171 | 179 | 187 | 279 | 456 | 463 | 447 | 529 | 759 | 701 | 586 | 609 | 586 | 480 | 335 |
Share-based compensation | |||||||||||||||||||||||||||||||||||
1,261 | 1,248 | 1,259 | -78 | -268 | 1,374 | 1,215 | 1,219 | 1,742 | 1,983 | 1,538 | 1,928 | 3,371 | 2,521 | 2,585 | 2,536 | 1,929 | 2,605 | 2,892 | 2,816 | 3,346 | 3,754 | 3,886 | 3,758 | 3,068 | 3,507 | 2,695 | 2,255 | 3,261 | 3,319 | 3,159 | 2,659 | 3,273 | 2,775 | 1,836 | 1,826 |
Derivative loss (gain) | |||||||||||||||||||||||||||||||||||
-18,659 | 5,853 | 1,805 | -48,886 | - | - | - | - | -566 | -2,879 | 3,689 | 3,955 | -65 | -412 | -4,942 | 2,493 | - | - | - | - | 10,755 | 13,781 | -13,079 | -7,492 | -2,284 | -15,659 | 12,841 | -3,368 | 467 | -24,659 | 49,872 | -39,634 | -8,919 | 17,323 | 17,332 | -23,840 |
Cash receipts on derivative settlements, net | |||||||||||||||||||||||||||||||||||
- | - | - | 11,948 | - | - | - | - | - | 1,716 | 1,495 | 713 | 0 | 0 | 641 | 4,105 | - | - | - | - | -23,861 | 4,233 | 9,640 | 4,670 | 1,734 | 4,545 | -1,961 | 4,271 | 704 | 876 | 284 | 5,800 | 634 | 917 | 6,099 | 2,223 |
Deferred income taxes | |||||||||||||||||||||||||||||||||||
-8,338 | -44,241 | -11,695 | 172 | 137 | 142 | 112 | 109 | -104 | 109 | 107 | 105 | 12,908 | -3,801 | 24,167 | -4,882 | -37,014 | -18,550 | -44,134 | -103,574 | -17,585 | 904 | 5,276 | 6,645 | -661 | 7,855 | 11,219 | 12,507 | 43,644 | -3,655 | 45,570 | 2,550 | 2,393 | 23,716 | 26,379 | 9,347 |
Changes in operating assets and liabilities: | |||||||||||||||||||||||||||||||||||
Oil and natural gas receivables | |||||||||||||||||||||||||||||||||||
5,741 | 9,814 | 504 | -6,496 | -1,678 | -2,591 | 7,131 | -501 | 6,276 | -231 | -5,557 | 1,882 | 7,299 | 932 | 6,939 | -8,165 | -8,949 | -8,002 | 5,836 | -21,121 | -30,446 | 3,271 | 480 | -2,815 | 11,531 | 4,552 | -16,640 | -423 | 29,502 | -4,199 | -16,605 | -9,516 | 15,726 | -8,693 | 9,171 | 2,435 |
Joint interest receivables | |||||||||||||||||||||||||||||||||||
-11,084 | -8,312 | 21,176 | 2,986 | -1,859 | -3,010 | 1,668 | -1,919 | -2,123 | 1,957 | 3,077 | -5,042 | 4,269 | -2,518 | 3,216 | -4,979 | -20,435 | 9,826 | 3,497 | -14,533 | 6,145 | 1,660 | -1,264 | -2,286 | -4,193 | 8,571 | -12,760 | -25,875 | 32,758 | -305 | -5,800 | 2,170 | 7,090 | 6,642 | -10,872 | -3,235 |
Insurance reimbursements | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | 0 | -1,640 | 0 | -30,100 | - | - | - | -12 | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 215 | -715 | -1,800 | -6,388 | -3,288 | -9,295 |
Income taxes | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | -11,882 | 5,539 | -57,621 | -310 | 282 | 36 | 0 | -325 | 259 | -34 | 2,953 | -35 | -9,105 | 44,854 | 6,207 | 2,372 | -33,684 | -2,265 | -11,676 | -10,386 | 8,770 | -937 | 3,318 | -18,275 |
Prepaid expenses and other assets | |||||||||||||||||||||||||||||||||||
-4,865 | 6,077 | 3,865 | 4,269 | -11,850 | -5,856 | 7,932 | 6,391 | -1,044 | -5,769 | -4,397 | 7,972 | -1,182 | 5,763 | 11,682 | -1,317 | -1,124 | -7,763 | 8,317 | -17,246 | 6,216 | -16,789 | -1,730 | -2,709 | -771 | -1,566 | 17,292 | -4,911 | -6,770 | -14,780 | 17,994 | -3,884 | -14,792 | -2,049 | 29,712 | -5,062 |
Asset retirement obligation settlements | |||||||||||||||||||||||||||||||||||
3,703 | 5,099 | 2,387 | 254 | 5,853 | 10,640 | 5,102 | 7,022 | 16,183 | 20,205 | 21,522 | 14,499 | 16,153 | 31,011 | 21,976 | 3,180 | 7,040 | 3,576 | 2,385 | 19,554 | 32,302 | 11,673 | 13,996 | 16,342 | 22,355 | 26,302 | 9,422 | 23,464 | 49,677 | 33,922 | 23,844 | 5,384 | 111,307 | -21,646 | -12,233 | -17,470 |
Cash advances from JV partners | |||||||||||||||||||||||||||||||||||
-31,194 | -2,680 | -26,117 | 44,644 | -10,385 | 30,819 | -22,952 | 19,147 | - | - | - | -2,531 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Accounts payable, accrued liabilities and other | |||||||||||||||||||||||||||||||||||
-21,646 | 6,359 | 11,122 | -6,871 | -26,308 | 64,978 | 2,099 | -688 | -15,713 | 20,449 | -2,767 | 9,433 | -14,811 | 983 | -13,226 | 27,993 | -39,836 | 13,642 | -9,750 | -10,263 | -16,912 | 28,997 | -3,919 | -3,285 | -5,066 | 30,206 | -7,153 | 9,921 | 5,729 | 26,869 | 5,710 | 644 | -16,011 | 30,274 | 26,236 | -32,618 |
Other liabilities | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -224 | 50 | 65 |
Net cash provided by operating activities | |||||||||||||||||||||||||||||||||||
45,631 | 80,280 | 21,471 | 84,845 | 26,911 | 179,660 | 40,211 | 74,981 | 29,088 | 64,735 | -15,598 | 81,183 | 23,348 | 2,101 | -40,978 | 29,709 | -1,565 | 53,883 | 27,992 | 52,918 | 55,043 | 145,318 | 138,405 | 136,055 | 86,875 | 178,471 | 127,528 | 169,834 | 33,648 | 110,164 | 113,168 | 128,157 | 125,427 | 166,206 | 157,120 | 72,725 |
Investing activities: | |||||||||||||||||||||||||||||||||||
Investment in oil and natural gas properties and equipment | |||||||||||||||||||||||||||||||||||
32,224 | 30,333 | 31,568 | 31,581 | 26,769 | 18,289 | 22,862 | 38,271 | 27,086 | 35,288 | 20,462 | 23,338 | 59,738 | 6,350 | 4,809 | 12,903 | 37,350 | 41,817 | 68,229 | 82,765 | 170,425 | 171,273 | 117,613 | 95,067 | 128,862 | 123,879 | 162,587 | 136,626 | 166,941 | 125,088 | 102,658 | 84,626 | 96,557 | 99,421 | 45,873 | 39,928 |
Changes in operating assets and liabilities associated with investing activities | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | -6,506 | 1,995 | -1,168 | - | 3,278 | 13,442 | 20,680 | -10,038 | 14,614 | -1,327 | 52,176 | -32,283 | -8,577 | -14,155 | 17,565 | - | - | - | - | - | - | - | - | - | - | - | - |
Deposit/acquisition of property interest | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | 13,617 | 3,000 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from sales of assets, net | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 500 | 1,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Purchases of furniture, fixtures and other | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | 28 | 52 | 0 | 853 | - | - | - | - | 93 | 476 | 483 | 226 | 1,159 | 466 | 1,455 | 260 | 108 | 346 | 867 | 114 | 906 | 1,457 | 168 | 500 | 3,342 | 140 | 98 | 80 |
Net cash used in investing activities | |||||||||||||||||||||||||||||||||||
-52,594 | -188,071 | -41,568 | -31,581 | -20,655 | 32,020 | -36,479 | -41,271 | -32,793 | -28,834 | -22,457 | -23,023 | -22,338 | -9,654 | -17,821 | -32,583 | 345,534 | -56,907 | -67,385 | -135,167 | -140,020 | -181,314 | -158,276 | -112,892 | -196,288 | -119,673 | -163,454 | -136,740 | -326,571 | -142,608 | -103,136 | -85,126 | -102,564 | -137,152 | -442,947 | -40,008 |
Financing activities: | |||||||||||||||||||||||||||||||||||
Borrowings on credit facility | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 340,000 | 0 | 69,000 | 112,000 | 82,000 | 178,000 | 158,000 | 128,000 | 92,000 | 228,000 | 83,000 | 140,000 | 112,000 | 416,000 | 119,000 | 113,000 | 84,000 | 111,000 | 202,000 | 300,000 | 10,000 |
Repayments on credit facility | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 0 | 148,000 | 140,000 | 52,000 | 265,000 | 64,000 | 366,000 | 15,000 | 78,000 | 121,000 | 97,000 | 103,000 | 75,000 | 129,000 | 100,000 | 139,000 | 365,000 | 80,000 | 117,000 | 117,000 | 88,000 | 183,000 | 225,000 | 10,000 |
Debt transactions costs | |||||||||||||||||||||||||||||||||||
11 | 177 | 310 | 441 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Dividends to shareholders | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 7,565 | 7,566 | 7,566 | 7,563 | 39,276 | 6,775 | 6,775 | 6,020 | 64,984 | 5,950 | 5,950 | 5,948 | 49,820 | 2,979 | 2,978 | 2,979 |
Other | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | -923 | 0 | -127 | -245 | -1,011 | 0 | 0 | 83 | -940 | 0 | 104 | -50 | -1,012 | -65 | -51 | -65 | 154 | -72 | -300 | -42 | 588 | -85 | -37 | -87 | - | - | - | - |
Net cash provided by (used in) financing activities | |||||||||||||||||||||||||||||||||||
-2,345 | 83,823 | -310 | -441 | -312,026 | -2,057 | -5,003 | -2,057 | -3,401 | -2,057 | -15,720 | -2,301 | -4,125 | -90,920 | -140,000 | 288,083 | -266,018 | 4,816 | 36,697 | 66,950 | 91,423 | 29,369 | 23,383 | -18,628 | 109,986 | -52,847 | 32,925 | -33,062 | 298,175 | 30,884 | -9,987 | -39,035 | -26,017 | -30,098 | 236,144 | -2,979 |
(Decrease) increase in cash and cash equivalents | |||||||||||||||||||||||||||||||||||
-9,308 | -23,968 | -20,407 | 52,823 | -305,770 | 209,623 | -1,271 | 31,653 | -7,106 | 33,844 | -53,775 | 55,859 | -3,115 | -98,473 | -198,799 | 285,209 | 77,951 | 1,792 | -2,696 | -15,299 | 6,446 | -6,627 | 3,512 | 4,535 | 573 | 5,951 | -3,001 | 32 | 5,252 | -1,560 | 45 | 3,996 | -3,154 | -1,044 | -49,683 | 29,738 |
11.00% 1.5 Lien Term Loan, Due November 2019 | |||||||||||||||||||||||||||||||||||
Payment of interest | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | 2,057 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |