| 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 | |||||||||||||||||||||||||||||||||||
74,086 | 203,371 | 173,732 | 173,426 | 248,827 | 133,348 | 85,791 | 83,023 | 79,682 | 72,800 | 120,025 | -34,212 | -249,020 | -317,109 | -840,605 | -980,132 | -1,044,718 | -1,026,483 | -548,231 | -277,945 | -11,661 | 9,824 | 23,334 | 35,893 | 51,322 | 79,877 | 64,213 | 95,384 | 71,984 | 101,380 | 155,778 | 157,386 | 172,817 | 0 | 0 | 0 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||||||||||||||||||||
Depreciation, depletion, amortization and accretion | |||||||||||||||||||||||||||||||||||
148,498 | 145,727 | 143,855 | 145,539 | 149,854 | 153,646 | 153,166 | 153,773 | 155,682 | 155,726 | 170,737 | 187,866 | 211,609 | 240,659 | 286,488 | 332,337 | 394,071 | 457,027 | 488,369 | 513,263 | 511,102 | 518,831 | 494,304 | 465,963 | 451,529 | 417,249 | 390,567 | 376,613 | 356,232 | 338,763 | 345,756 | 343,185 | 328,786 | 0 | 0 | 0 |
Ceiling test write-down of oil and natural gas properties | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 279,063 | 311,451 | 695,227 | 843,407 | 987,238 | 954,850 | 513,162 | 260,390 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Amortization of debt items and other items | |||||||||||||||||||||||||||||||||||
5,514 | 4,968 | 4,209 | 3,536 | 2,850 | 2,240 | 2,005 | 1,769 | 1,715 | 1,684 | 1,504 | 1,276 | 2,548 | 3,684 | 3,859 | 5,939 | 4,411 | 3,026 | 2,767 | 670 | 701 | 816 | 1,101 | 1,385 | 1,645 | 1,895 | 2,198 | 2,436 | 2,575 | 2,655 | 2,482 | 2,261 | 2,010 | 0 | 0 | 0 |
Share-based compensation | |||||||||||||||||||||||||||||||||||
3,690 | 2,161 | 2,287 | 2,243 | 3,540 | 5,550 | 6,159 | 6,482 | 7,191 | 8,820 | 9,358 | 10,405 | 11,013 | 9,571 | 9,655 | 9,962 | 10,242 | 11,659 | 12,808 | 13,802 | 14,744 | 14,466 | 14,219 | 13,028 | 11,525 | 11,718 | 11,530 | 11,994 | 12,398 | 12,410 | 11,866 | 10,543 | 9,710 | 0 | 0 | 0 |
Derivative loss (gain) | |||||||||||||||||||||||||||||||||||
-59,887 | 0 | 0 | 0 | - | - | - | - | 4,199 | 4,700 | 7,167 | -1,464 | -2,926 | 0 | 0 | 0 | - | - | - | - | 3,965 | -9,074 | -38,514 | -12,594 | -8,470 | -5,719 | -14,719 | 22,312 | -13,954 | -23,340 | 18,642 | -13,898 | 1,896 | 0 | 0 | 0 |
Cash receipts on derivative settlements, net | |||||||||||||||||||||||||||||||||||
- | - | - | 0 | - | - | - | - | - | 3,924 | 2,208 | 1,354 | 4,746 | 0 | 0 | 0 | - | - | - | - | -5,318 | 20,277 | 20,589 | 8,988 | 8,589 | 7,559 | 3,890 | 6,135 | 7,664 | 7,594 | 7,635 | 13,450 | 9,873 | 0 | 0 | 0 |
Deferred income taxes | |||||||||||||||||||||||||||||||||||
-64,102 | -55,627 | -11,244 | 563 | 500 | 259 | 226 | 221 | 217 | 13,229 | 9,319 | 33,379 | 28,392 | -21,530 | -36,279 | -104,580 | -203,272 | -183,843 | -164,389 | -114,979 | -4,760 | 12,164 | 19,115 | 25,058 | 30,920 | 75,225 | 63,715 | 98,066 | 88,109 | 46,858 | 74,229 | 55,038 | 61,835 | 0 | 0 | 0 |
Changes in operating assets and liabilities: | |||||||||||||||||||||||||||||||||||
Oil and natural gas receivables | |||||||||||||||||||||||||||||||||||
9,563 | 2,144 | -10,261 | -3,634 | 2,361 | 10,315 | 12,675 | -13 | 2,370 | 3,393 | 4,556 | 17,052 | 7,005 | -9,243 | -18,177 | -19,280 | -32,236 | -53,733 | -42,460 | -47,816 | -29,510 | 12,467 | 13,748 | -3,372 | -980 | 16,991 | 8,240 | 8,275 | -818 | -14,594 | -19,088 | 6,688 | 18,639 | 0 | 0 | 0 |
Joint interest receivables | |||||||||||||||||||||||||||||||||||
4,766 | 13,991 | 19,293 | -215 | -5,120 | -5,384 | -417 | 992 | -2,131 | 4,261 | -214 | -75 | -12 | -24,716 | -12,372 | -12,091 | -21,645 | 4,935 | -3,231 | -7,992 | 4,255 | -6,083 | 828 | -10,668 | -34,257 | 2,694 | -6,182 | 778 | 28,823 | 3,155 | 10,102 | 5,030 | -375 | 0 | 0 | 0 |
Insurance reimbursements | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | -31,740 | 0 | 0 | 0 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | -2,300 | -8,688 | -12,191 | -20,771 | 0 | 0 | 0 |
Income taxes | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | -64,274 | -52,110 | -57,613 | 8 | -7 | -30 | -100 | 2,853 | 3,143 | -6,221 | 38,667 | 41,921 | 44,328 | 19,749 | -27,370 | -45,253 | -58,011 | -15,557 | -14,229 | 765 | -7,124 | 0 | 0 | 0 |
Prepaid expenses and other assets | |||||||||||||||||||||||||||||||||||
9,346 | 2,361 | -9,572 | -5,505 | -3,383 | 7,423 | 7,510 | -4,819 | -3,238 | -3,376 | 8,156 | 24,235 | 14,946 | 15,004 | 1,478 | -1,887 | -17,816 | -10,476 | -19,502 | -29,549 | -15,012 | -21,999 | -6,776 | 12,246 | 10,044 | 4,045 | -9,169 | -8,467 | -7,440 | -15,462 | -2,731 | 8,987 | 7,809 | 0 | 0 | 0 |
Asset retirement obligation settlements | |||||||||||||||||||||||||||||||||||
11,443 | 13,593 | 19,134 | 21,849 | 28,617 | 38,947 | 48,512 | 64,932 | 72,409 | 72,379 | 83,185 | 83,639 | 72,320 | 63,207 | 35,772 | 16,181 | 32,555 | 57,817 | 65,914 | 77,525 | 74,313 | 64,366 | 78,995 | 74,421 | 81,543 | 108,865 | 116,485 | 130,907 | 112,827 | 174,457 | 118,889 | 82,812 | 59,958 | 0 | 0 | 0 |
Cash advances from JV partners | |||||||||||||||||||||||||||||||||||
-15,347 | 5,462 | 38,961 | 42,126 | 16,629 | 0 | 0 | 0 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Accounts payable, accrued liabilities and other | |||||||||||||||||||||||||||||||||||
-11,036 | -15,698 | 42,921 | 33,898 | 40,081 | 50,676 | 6,147 | 1,281 | 11,402 | 12,304 | -7,162 | -17,621 | 939 | -24,086 | -11,427 | -7,951 | -46,207 | -23,283 | -7,928 | -2,097 | 4,881 | 16,727 | 17,936 | 14,702 | 27,908 | 38,703 | 35,366 | 48,229 | 38,952 | 17,212 | 20,617 | 41,143 | 7,881 | 0 | 0 | 0 |
Other liabilities | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 |
Net cash provided by operating activities | |||||||||||||||||||||||||||||||||||
232,227 | 213,507 | 312,887 | 331,627 | 321,763 | 323,940 | 209,015 | 153,206 | 159,408 | 153,668 | 91,034 | 65,654 | 14,180 | -10,733 | 41,049 | 110,019 | 133,228 | 189,836 | 281,271 | 391,684 | 474,821 | 506,653 | 539,806 | 528,929 | 562,708 | 509,481 | 441,174 | 426,814 | 385,137 | 476,916 | 532,958 | 576,910 | 521,478 | 0 | 0 | 0 |
Investing activities: | |||||||||||||||||||||||||||||||||||
Investment in oil and natural gas properties and equipment | |||||||||||||||||||||||||||||||||||
125,706 | 120,251 | 108,207 | 99,501 | 106,191 | 106,508 | 123,507 | 121,107 | 106,174 | 138,826 | 109,888 | 94,235 | 83,800 | 61,412 | 96,879 | 160,299 | 230,161 | 363,236 | 492,692 | 542,076 | 554,378 | 512,815 | 465,421 | 510,395 | 551,954 | 590,033 | 591,242 | 531,313 | 479,313 | 408,929 | 383,262 | 326,477 | 281,779 | 0 | 0 | 0 |
Changes in operating assets and liabilities associated with investing activities | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | 0 | 0 | 13,346 | - | 27,362 | 38,698 | 23,929 | 55,425 | 33,180 | 9,989 | -2,839 | -37,450 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Deposit/acquisition of property interest | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | 0 | 0 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from sales of assets, net | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 1,500 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Purchases of furniture, fixtures and other | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | 933 | 0 | 0 | 0 | - | - | - | - | 1,278 | 2,344 | 2,334 | 3,306 | 3,340 | 2,289 | 2,169 | 1,581 | 1,435 | 2,233 | 3,344 | 2,645 | 3,031 | 5,467 | 4,150 | 4,080 | 3,660 | 0 | 0 | 0 |
Net cash used in investing activities | |||||||||||||||||||||||||||||||||||
-313,814 | -281,875 | -61,784 | -56,695 | -66,385 | -78,523 | -139,377 | -125,355 | -107,107 | -96,652 | -77,472 | -72,836 | -82,396 | 285,476 | 238,223 | 188,659 | 86,075 | -399,479 | -523,886 | -614,777 | -592,502 | -648,770 | -587,129 | -592,307 | -616,155 | -746,438 | -769,373 | -709,055 | -657,441 | -433,434 | -427,978 | -767,789 | -722,671 | 0 | 0 | 0 |
Financing activities: | |||||||||||||||||||||||||||||||||||
Borrowings on credit facility | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 340,000 | 340,000 | 409,000 | 521,000 | 263,000 | 441,000 | 530,000 | 546,000 | 556,000 | 606,000 | 531,000 | 543,000 | 563,000 | 751,000 | 787,000 | 760,000 | 732,000 | 427,000 | 510,000 | 697,000 | 623,000 | 0 | 0 | 0 |
Repayments on credit facility | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 340,000 | 605,000 | 521,000 | 747,000 | 710,000 | 523,000 | 580,000 | 311,000 | 399,000 | 396,000 | 404,000 | 407,000 | 443,000 | 733,000 | 684,000 | 701,000 | 679,000 | 402,000 | 505,000 | 613,000 | 506,000 | 0 | 0 | 0 |
Debt transactions costs | |||||||||||||||||||||||||||||||||||
939 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Dividends to shareholders | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 30,260 | 61,971 | 61,180 | 60,389 | 58,846 | 84,554 | 83,729 | 82,904 | 82,832 | 67,668 | 64,697 | 61,725 | 58,756 | 0 | 0 | 0 |
Other | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | -1,295 | -1,383 | -1,383 | -1,256 | -928 | -857 | -857 | -753 | -886 | -958 | -1,023 | -1,178 | -1,193 | -27 | -34 | -283 | -260 | 174 | 161 | 424 | 379 | 0 | 0 | 0 | - | - | - | - |
Net cash provided by (used in) financing activities | |||||||||||||||||||||||||||||||||||
80,727 | -228,954 | -314,834 | -319,527 | -321,143 | -12,518 | -12,518 | -23,235 | -23,479 | -24,203 | -113,066 | -237,346 | 53,038 | -208,855 | -113,119 | 63,578 | -157,555 | 199,886 | 224,439 | 211,125 | 125,547 | 144,110 | 61,894 | 71,436 | 57,002 | 245,191 | 328,922 | 286,010 | 280,037 | -44,155 | -105,137 | 140,994 | 177,050 | 0 | 0 | 0 |
(Decrease) increase in cash and cash equivalents | |||||||||||||||||||||||||||||||||||
-860 | -297,322 | -63,731 | -44,595 | -65,765 | 232,899 | 57,120 | 4,616 | 28,822 | 32,813 | -99,504 | -244,528 | -15,178 | 65,888 | 166,153 | 362,256 | 61,748 | -9,757 | -18,176 | -11,968 | 7,866 | 1,993 | 14,571 | 8,058 | 3,555 | 8,234 | 723 | 3,769 | 7,733 | -673 | -157 | -49,885 | -24,143 | 0 | 0 | 0 |
11.00% 1.5 Lien Term Loan, Due November 2019 | |||||||||||||||||||||||||||||||||||
Payment of interest | |||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |