Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements Of Consolidated Cash Flows

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Condensed Statements Of Consolidated Cash Flows (USD $)
In Thousands
 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 29,860 $ 32,271
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation, depletion and amortization 17,796 12,860
Unrealized foreign exchange gain (99) (493)
Dry hole costs (credits) (36) 130
Stock based compensation 1,902 1,571
Bad debt provision 4,061  
Other 4  
Change in operating assets and liabilities:    
Trade receivables 2,924 (12,943)
Accounts with partners 3,221 15,116
Other receivables 6,275 (6,474)
Crude oil inventory (3,342) (301)
Materials and supplies 221 (256)
Prepayments and other (3,741) (693)
Accounts payable, accrued liabilities and other liabilities (4,704) (6,358)
Other long term assets   502
Net cash provided by operating activities 54,342 34,932
CASH FLOWS FROM INVESTING ACTIVITIES    
Funds in escrow, net 3,920 28
Property and equipment expenditures (22,963) (19,941)
Net cash used in investing activities (19,043) (19,913)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of common stock 1,237 123
Redemption of rights plan   6
Distribution to noncontrolling interest (5,195) (4,495)
Net cash used in financing activities (3,958) (4,366)
NET CHANGE IN CASH AND CASH EQUIVALENTS 31,341 10,653
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 81,234 80,570
CASH AND CASH EQUIVALENTS AT END OF PERIOD 112,575 91,223
Supplemental disclosure of cash flow information    
Income taxes paid 62,399 25,938
Supplemental disclosure of non cash transactions    
Property and equipment additions incurred during the period but not paid at period end 5,945 7,671
Receivable from employee for stock option exercise   $ 44