Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Consolidated Cash Flows (Unaudited)

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Condensed Statements of Consolidated Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 7,188 $ 10,527
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation, depletion and amortization 3,626 5,003
Unrealized foreign exchange loss (gain) 22 (142)
Dry hole costs 4,896  
Stock based compensation 1,406 1,352
Bad debt expense 879 315
Change in operating assets and liabilities:    
Trade receivables (16,541) 9,444
Accounts with partners (11,260) (7,091)
Other receivables (3,020) (3,119)
Crude oil inventory 287 (498)
Materials and supplies 12 (215)
Prepayments and other 256 (2,797)
Accounts payable and accrued liabilities 3,280 2,382
Net cash provided (used) by operating activities (8,969) 15,161
CASH FLOWS FROM INVESTING ACTIVITIES    
Restricted cash (818) 367
Property and equipment expenditures (18,372) (10,739)
Net cash used in investing activities (19,190) (10,372)
CASH FLOWS FROM FINANCING ACTIVITIES    
Distribution to noncontrolling interest    (1,599)
Net cash used in financing activities    (1,599)
NET CHANGE IN CASH AND CASH EQUIVALENTS (28,159) 3,190
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 130,800 137,139
CASH AND CASH EQUIVALENTS AT END OF PERIOD 102,641 140,329
Supplemental disclosure of cash flow information    
Cash paid for income taxes 9,741 25,054
Supplemental disclosure of non cash flow information    
Property and equipment additions incurred during period but not paid at period end 11,777 12,542
Receivable from employees for stock option exercise $ 135 $ 916