Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v3.3.0.814
Condensed Consolidated Statements Of Cash Flows
$ in Thousands
 9 Months Ended
Sep. 30, 2015
USD ($)
Sep. 30, 2014
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (77,877) $ 20,788
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 23,493 15,444
Amortization of debt issuance cost 473 97
Unrealized foreign exchange (gain) loss (105) 22
Dry hole costs and impairment loss on unproved leasehold 36,848 13,273
Stock based compensation 3,024 2,698
Bad debt provision 2,750 1,800
Gains on disposal of oil and gas properties (398)  
Impairment loss 29,208  
Change in operating assets and liabilities:    
Trade receivables 12,543 10,945
Accounts with partners (7,027) (500)
Other receivables (3,242) (2,315)
Crude oil inventory 948 (1,308)
Materials and supplies 54 (1,501)
Prepayments and other 1,297 (3,547)
Accounts payable and other liabilities 15,530 (1,142)
Net cash provided by operating activities 37,519 54,754
CASH FLOWS FROM INVESTING ACTIVITIES    
Increase in restricted cash 5,512 65
Property and equipment expenditures (72,231) (68,104)
Proceeds from sales of oil and gas properties 398  
Net cash used in investing activities (66,321) (68,039)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuances of common stock 452 5,076
Debt issuance costs   (1,954)
Borrowings   15,000
Purchases of treasury stock   (1,868)
Net cash provided by (used in) financing activities 452 16,254
NET CHANGE IN CASH AND CASH EQUIVALENTS (28,350) 2,969
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 69,051 130,529
CASH AND CASH EQUIVALENTS AT END OF PERIOD 40,701 133,498
Supplemental disclosure of cash flow information:    
Interest paid, net of capitalized interest 1,119  
Taxes paid 12,175 21,484
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment additions incurred during the period but not paid at period end 22,154 22,747
Asset retirement cost capitalized 816 2,143
Receivable from Shareholders or Affiliates for Issuance of Capital Stock   $ 534
Scenario, Actual [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 77,600