Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (44,209) $ 17,676
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 15,234 11,155
Amortization of debt issuance cost 311  
Unrealized foreign exchange (gain) loss 18 22
Dry hole costs and impairment loss on unproved leasehold 27,871 13,273
Stock based compensation 2,332 2,057
Gains on disposal of oil and gas properties (398)  
Impairment loss 11,220 0
Change in operating assets and liabilities:    
Trade receivables 11,362 (4,613)
Accounts with partners (4,821) (2,834)
Other receivables (2,556) (1,140)
Crude oil inventory 1,458 (216)
Materials and supplies 32 (339)
Prepayments and other 1,517 (191)
Accounts payable and other liabilities 7,582 5,709
Net cash provided by operating activities 26,953 40,559
CASH FLOWS FROM INVESTING ACTIVITIES    
Increase in restricted cash 5,390 65
Property and equipment expenditures (41,196) (51,292)
Proceeds from sales of oil and gas properties 398  
Net cash used in investing activities (35,408) (51,227)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuances of common stock 452 620
Debt issuance costs   (1,914)
Net cash provided by (used in) financing activities 452 (1,294)
NET CHANGE IN CASH AND CASH EQUIVALENTS (8,003) (11,962)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 69,051 130,529
CASH AND CASH EQUIVALENTS AT END OF PERIOD 61,048 118,567
Supplemental disclosure of cash flow information:    
Interest paid, net of capitalized interest 654  
Taxes paid 9,254 15,122
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment additions incurred during the period but not paid at period end 33,297 $ 14,971
Asset retirement cost capitalized $ 613