Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (126,565,754) $ (229,738,572)
Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities:    
Depletion, Depreciation, Amortization and Accretion 17,846,089 45,213,039
Amortization of Debt Issuance Costs 1,007,983 722,144
Write-off of Debt Issuance Costs 1,089,507 0
Amortization/Accretion of 8% Senior Notes Premium/Discount 122,615 (371,681)
Deferred Income Taxes 0 (135,480,000)
Loss on the Mark-to-Market of Derivative Instruments 21,983,017 14,331,367
Amortization of Deferred Rent 0 (3,664)
Share-Based Compensation Expense 1,741,434 1,695,873
Impairment of Oil and Natural Gas Properties 104,311,122 360,428,962
Other 282,421 0
Changes in Working Capital and Other Items:    
Trade Receivables, Net 21,740,341 7,340,027
Prepaid Expenses and Other 127,029 (333,009)
Accounts Payable 230,442 (4,302,624)
Accrued Interest 13,839,995 9,417,583
Accrued Expenses (2,463,691) (1,985,461)
Asset Retirement Obligations (78,400) (57,532)
Net Cash Provided By Operating Activities 55,214,150 66,876,452
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of Oil and Natural Gas Properties and Development Capital Expenditures, Net (20,067,820) (110,547,904)
Proceeds from Sale of Oil, Natural Gas, and Other Properties 10,000 160,944
Purchases of Other Property and Equipment 0 (9,559)
Net Cash Used for Investing Activities (20,057,820) (110,396,519)
CASH FLOWS FROM FINANCING ACTIVITIES    
Advances on Revolving Credit Facility 0 50,000,000
Repayments on Revolving Credit Facility (33,000,000) (10,000,000)
Repurchase of Common Stock – Tax Obligations (1,158,577) (76,362)
Net Cash (Used for) Provided by Financing Activities (34,158,577) 39,923,638
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 997,753 (3,596,429)
CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 3,390,389 9,337,512
CASH AND CASH EQUIVALENTS – END OF PERIOD 4,388,142 5,741,083
Supplemental Disclosure of Cash Flow Information    
Cash Paid During the Period for Interest 1,121,994 2,062,136
Cash Paid During the Period for Income Taxes 0 3,300,000
Non-Cash Financing and Investing Activities:    
Oil and Natural Gas Properties Included in Accounts Payable 56,831,682 155,548,338
Capitalized Asset Retirement Obligations 121,940 154,830
Non-Cash Compensation Capitalized on Oil and Gas Properties $ 437,907 $ 134,039