depreciation , depletion , amortization and impairment includes the systematic expensing of the capitalized costs incurred to acquire , explore and develop oil and natural gas properties . as a full cost company , we capitalize all costs associated with our development and acquisition efforts and allocate these costs to each unit of production using the units-of-production method . general and administrative expenses . general and administrative expenses include overhead , including payroll and benefits for our corporate staff , costs of maintaining our headquarters , costs of managing our acquisition and development operations , franchise taxes , audit and other professional fees and legal compliance . interest expense . we finance a portion of our working capital requirements , capital expenditures and acquisitions with borrowings . as a result , we incur interest expense that is affected by both fluctuations in interest rates and our financing decisions . we capitalize a portion of the interest paid on applicable borrowings into our full cost pool . we include interest expense that is not capitalized into the full cost pool , the amortization of deferred financing costs and bond premiums ( including origination and amendment fees ) , commitment fees and annual agency fees as interest expense . 45 income tax expense . our provision for taxes includes both federal and state taxes . we record our federal income taxes in accordance with accounting for income taxes under gaap which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carryforwards are expected to be recovered or settled . the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date . a valuation allowance is established to reduce deferred tax assets if it is more likely than not that the related tax benefits will not be realized . selected factors that affect our operating results our revenues , cash flows from operations and future growth depend substantially upon : the timing and success of drilling and production activities by our operating partners ; the prices and the supply and demand for oil , natural gas and ngls ; the quantity of oil and natural gas production from the wells in which we participate ; changes in the fair value of the derivative instruments we use to reduce our exposure to fluctuations in the price of oil ; our ability to continue to identify and acquire high-quality acreage and drilling opportunities ; and the level of our operating expenses . in addition to the factors that affect companies in our industry generally , the location of our acreage and wells in the williston basin subjects our operating results to factors specific to this region . these factors include the potential adverse impact of weather on drilling , production and transportation activities , particularly during the winter and spring months , and the limitations of the developing infrastructure and transportation capacity in this region . the price of oil in the williston basin can vary depending on the market in which it is sold and the means of transportation used to transport the oil to market . light sweet crude from the williston basin has a higher value at many major refining centers because of its higher quality relative to heavier and sour grades of oil ; however , because of north dakota 's location relative to traditional oil transport centers , this higher value is generally offset to some extent by higher transportation costs . while rail transportation has historically been more expensive than pipeline transportation , williston basin prices have at times justified shipment by rail to markets such as st. james , louisiana , which offers prices benchmarked to brent/lls . additional pipeline infrastructure during 2017 has increased takeaway capacity in the williston basin which has improved wellhead values in the region . the price at which our oil production is sold typically reflects a discount to the nymex benchmark price . thus , our operating results are also affected by changes in the oil price differentials between the nymex and the sales prices we receive for our oil production . our oil price differential to the nymex benchmark price during 2017 was $ 5.87 per barrel , as compared to $ 8.25 per barrel in 2016 . fluctuations in our oil price differential are due to several factors such as takeaway capacity relative to production levels in the williston basin , and seasonal refinery maintenance temporarily depressing crude demand . another significant factor affecting our operating results is drilling costs . the cost of drilling wells has varied significantly over the past few years as volatility in oil prices has substantially impacted the level of drilling activity in the williston basin . generally , higher oil prices have led to increased drilling activity , with the increased demand for drilling and completion services driving these costs higher . lower oil prices have generally had the opposite effect . in addition , individual components of the cost can vary depending on numerous factors such as the length of the horizontal lateral , the number of fracture stimulation stages , and the choice of proppant ( sand or ceramic ) . rig activity levels in 2017 increased from 2016 levels and a large percentage of our newer wells utilize higher intensity completion techniques . the higher intensity completions generally deliver the best returns in the current pricing environment but cost more due to increased materials and servicing costs . story_separator_special_tag net income ( loss ) is the most directly comparable gaap measure for both adjusted net income and adjusted ebitda , and tabular reconciliations for these measures are included below . we recorded a net loss of $ 9.2 million ( representing $ 0.15 per diluted share ) for 2017 , compared to a net loss of $ 293.5 million ( representing $ 4.80 per diluted share ) for 2016 and a net loss of $ 975.4 million ( representing $ 16.08 per diluted share ) for 2015 . we define adjusted net income as net income ( loss ) excluding ( i ) ( gain ) loss on the mark-to-market of derivative instruments , net of tax , ( ii ) restructuring costs , net of tax , ( iii ) impairment of oil and natural gas properties , net of tax , ( iv ) write-off of debt issuance costs , net of tax , ( v ) loss on the extinguishment of debt , net of tax , and ( vi ) certain legal settlements , net of tax . our adjusted net income for 2017 was $ 8.5 million ( representing $ 0.14 per diluted share ) as compared to adjusted net income for 2016 of $ 12.2 million ( representing $ 0.20 per diluted share ) and $ 47.6 million ( representing $ 0.78 per diluted share ) for 2015 . the decrease in adjusted net income in 2017 compared to 2016 was primarily due to lower realized commodity prices , and higher general and administrative expenses , production expenses and interest costs , which were partially offset by lower depletion expense and higher production volumes . the decrease in adjusted net income in 2016 compared to 2015 was primarily due to lower realized commodity prices and production volumes , as well as higher interest costs , which were partially offset by lower depletion expense and other operating expenses . we define adjusted ebitda as net income before ( i ) interest expense , ( ii ) income taxes , ( iii ) depreciation , depletion , amortization , and accretion , ( iv ) ( gain ) loss on the mark-to-market of derivative instruments , ( v ) non-cash share based compensation expense , ( vi ) write-off of debt issuance costs , ( vii ) loss on the extinguishment of debt , and ( viii ) impairment of oil and natural gas properties . adjusted ebitda for 2017 was $ 144.7 million , compared to adjusted ebitda of $ 148.5 million in 2016 and $ 277.3 million in 2015 . the decrease in adjusted ebitda in 2017 as compared to 2016 is primarily due to lower realized commodity prices and increased general and administrative expenses , partially offset by higher production volumes . the decrease in adjusted ebitda in 2016 as compared to 2015 was primarily due to lower realized commodity prices and lower production volumes . management believes the use of these non-gaap financial measures provides useful information to investors to gain an overall understanding of our current financial performance . specifically , management believes the non-gaap financial measures included herein provide useful information to both management and investors by excluding certain expenses and unrealized commodity gains and losses that our management believes are not indicative of our core operating results . in addition , these non-gaap financial measures are used by management for budgeting and forecasting as well as subsequently measuring our performance , and we believe that we are providing investors with financial measures that most closely align to our internal measurement processes . we consider these non-gaap measures to be useful in evaluating our core operating results as they more closely reflect our essential revenue generating activities and direct operating expenses ( resulting in cash expenditures ) needed to perform these revenue generating activities . our management also believes , based on feedback provided by the investment community , that the non-gaap financial measures are necessary to allow the investment community to construct its valuation models to better compare our results with our competitors and market sector . these measures should be considered in addition to results prepared in accordance with gaap . in addition , these non-gaap financial measures are not based on any comprehensive set of accounting rules or principles . we believe that non-gaap financial measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with gaap and that these measures should only be used to evaluate our results of operations in conjunction with the corresponding gaap financial measures . adjusted net income and adjusted ebitda are non-gaap measures . a reconciliation of these measures to gaap is included below : 52 reconciliation of adjusted net income replace_table_token_22_th _ ( 1 ) for the 2017 columns , this represents the tax impact using an estimated tax rate of 39.1 % and includes adjustments for changes in our valuation allowance of $ 3.7 million , excluding the impact for the tax cuts and jobs act that was enacted on december 22 , 2017. for 2016 and 2015 columns , this represents the tax impact using an estimated tax rate of 37.4 % for 2016 and 36.9 % for 2015 , and includes adjustments for changes in our valuation allowance of $ 109.0 million for 2016 , and $ 232.3 million for 2015 , respectively . 53 reconciliation of adjusted ebitda replace_table_token_23_th liquidity and capital resources overview our main sources of liquidity and capital resources as of the date of this report have been internally generated cash flow from operations , proceeds from senior unsecured notes , credit facility borrowings and cash settlements of derivative contracts . our primary uses of capital have been for the acquisition and development of our oil and gas properties . we continually monitor potential capital sources for opportunities to enhance liquidity or otherwise improve our financial position . one

cash flows used in investing activities we had cash flows used in investing activities of $ 119.2 million , $ 91.0 million and $ 288.9 million during the years ended december 31 , 2017 , 2016 and 2015 , respectively , primarily as a result of our capital expenditures for drilling , development and acquisition costs . the year-over-year increase in cash used in investing activities in 2017 was attributable to increased oil and gas development activities . in light of the lower price environment , oil and gas development activities were significantly lower in 2016 when compared to 2015 . during 2017 , 2016 and 2015 we added 16.9 , 10.7 and 18.6 net wells to production , respectively . our cash flows used in investing activities reflects actual cash spending , which can lag several months from when the related costs were incurred . as a result , our actual cash spending is not always reflective of current levels of development activity . for instance , during the year ended december 31 , 2017 , our capitalized costs incurred for oil and natural gas properties ( e.g . drilling and completion costs and other capital expenditures ) amounted to $ 156.0 million , while the actual cash spend in this regard amounted to $ 119.4 million . our cash spend for development and acquisition activities for the years ended december 31 , 2017 , 2016 and 2015 are summarized in the following table : replace_table_token_25_th development and acquisition activities are discretionary . we monitor our capital expenditures on a regular basis , adjusting the amount up or down , and between projects , depending on projected commodity prices , cash flows and returns . 56 cash flows ( used for ) provided by financing activities net cash provided by ( used for ) financing activities was $ 142.0 million , $ ( 7.8 ) million and $ 36.0 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flows used in investing activities we had cash flows used in investing activities of $ 119.2 million , $ 91.0 million and $ 288.9 million during the years ended december 31 , 2017 , 2016 and 2015 , respectively , primarily as a result of our capital expenditures for drilling , development and acquisition costs . the year-over-year increase in cash used in investing activities in 2017 was attributable to increased oil and gas development activities . in light of the lower price environment , oil and gas development activities were significantly lower in 2016 when compared to 2015 . during 2017 , 2016 and 2015 we added 16.9 , 10.7 and 18.6 net wells to production , respectively . our cash flows used in investing activities reflects actual cash spending , which can lag several months from when the related costs were incurred . as a result , our actual cash spending is not always reflective of current levels of development activity . for instance , during the year ended december 31 , 2017 , our capitalized costs incurred for oil and natural gas properties ( e.g . drilling and completion costs and other capital expenditures ) amounted to $ 156.0 million , while the actual cash spend in this regard amounted to $ 119.4 million . our cash spend for development and acquisition activities for the years ended december 31 , 2017 , 2016 and 2015 are summarized in the following table : replace_table_token_25_th development and acquisition activities are discretionary . we monitor our capital expenditures on a regular basis , adjusting the amount up or down , and between projects , depending on projected commodity prices , cash flows and returns . 56 cash flows ( used for ) provided by financing activities net cash provided by ( used for ) financing activities was $ 142.0 million , $ ( 7.8 ) million and $ 36.0 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively .
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 Suspicious Activity Report : depreciation , depletion , amortization and impairment includes the systematic expensing of the capitalized costs incurred to acquire , explore and develop oil and natural gas properties . as a full cost company , we capitalize all costs associated with our development and acquisition efforts and allocate these costs to each unit of production using the units-of-production method . general and administrative expenses . general and administrative expenses include overhead , including payroll and benefits for our corporate staff , costs of maintaining our headquarters , costs of managing our acquisition and development operations , franchise taxes , audit and other professional fees and legal compliance . interest expense . we finance a portion of our working capital requirements , capital expenditures and acquisitions with borrowings . as a result , we incur interest expense that is affected by both fluctuations in interest rates and our financing decisions . we capitalize a portion of the interest paid on applicable borrowings into our full cost pool . we include interest expense that is not capitalized into the full cost pool , the amortization of deferred financing costs and bond premiums ( including origination and amendment fees ) , commitment fees and annual agency fees as interest expense . 45 income tax expense . our provision for taxes includes both federal and state taxes . we record our federal income taxes in accordance with accounting for income taxes under gaap which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carryforwards are expected to be recovered or settled . the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date . a valuation allowance is established to reduce deferred tax assets if it is more likely than not that the related tax benefits will not be realized . selected factors that affect our operating results our revenues , cash flows from operations and future growth depend substantially upon : the timing and success of drilling and production activities by our operating partners ; the prices and the supply and demand for oil , natural gas and ngls ; the quantity of oil and natural gas production from the wells in which we participate ; changes in the fair value of the derivative instruments we use to reduce our exposure to fluctuations in the price of oil ; our ability to continue to identify and acquire high-quality acreage and drilling opportunities ; and the level of our operating expenses . in addition to the factors that affect companies in our industry generally , the location of our acreage and wells in the williston basin subjects our operating results to factors specific to this region . these factors include the potential adverse impact of weather on drilling , production and transportation activities , particularly during the winter and spring months , and the limitations of the developing infrastructure and transportation capacity in this region . the price of oil in the williston basin can vary depending on the market in which it is sold and the means of transportation used to transport the oil to market . light sweet crude from the williston basin has a higher value at many major refining centers because of its higher quality relative to heavier and sour grades of oil ; however , because of north dakota 's location relative to traditional oil transport centers , this higher value is generally offset to some extent by higher transportation costs . while rail transportation has historically been more expensive than pipeline transportation , williston basin prices have at times justified shipment by rail to markets such as st. james , louisiana , which offers prices benchmarked to brent/lls . additional pipeline infrastructure during 2017 has increased takeaway capacity in the williston basin which has improved wellhead values in the region . the price at which our oil production is sold typically reflects a discount to the nymex benchmark price . thus , our operating results are also affected by changes in the oil price differentials between the nymex and the sales prices we receive for our oil production . our oil price differential to the nymex benchmark price during 2017 was $ 5.87 per barrel , as compared to $ 8.25 per barrel in 2016 . fluctuations in our oil price differential are due to several factors such as takeaway capacity relative to production levels in the williston basin , and seasonal refinery maintenance temporarily depressing crude demand . another significant factor affecting our operating results is drilling costs . the cost of drilling wells has varied significantly over the past few years as volatility in oil prices has substantially impacted the level of drilling activity in the williston basin . generally , higher oil prices have led to increased drilling activity , with the increased demand for drilling and completion services driving these costs higher . lower oil prices have generally had the opposite effect . in addition , individual components of the cost can vary depending on numerous factors such as the length of the horizontal lateral , the number of fracture stimulation stages , and the choice of proppant ( sand or ceramic ) . rig activity levels in 2017 increased from 2016 levels and a large percentage of our newer wells utilize higher intensity completion techniques . the higher intensity completions generally deliver the best returns in the current pricing environment but cost more due to increased materials and servicing costs . story_separator_special_tag net income ( loss ) is the most directly comparable gaap measure for both adjusted net income and adjusted ebitda , and tabular reconciliations for these measures are included below . we recorded a net loss of $ 9.2 million ( representing $ 0.15 per diluted share ) for 2017 , compared to a net loss of $ 293.5 million ( representing $ 4.80 per diluted share ) for 2016 and a net loss of $ 975.4 million ( representing $ 16.08 per diluted share ) for 2015 . we define adjusted net income as net income ( loss ) excluding ( i ) ( gain ) loss on the mark-to-market of derivative instruments , net of tax , ( ii ) restructuring costs , net of tax , ( iii ) impairment of oil and natural gas properties , net of tax , ( iv ) write-off of debt issuance costs , net of tax , ( v ) loss on the extinguishment of debt , net of tax , and ( vi ) certain legal settlements , net of tax . our adjusted net income for 2017 was $ 8.5 million ( representing $ 0.14 per diluted share ) as compared to adjusted net income for 2016 of $ 12.2 million ( representing $ 0.20 per diluted share ) and $ 47.6 million ( representing $ 0.78 per diluted share ) for 2015 . the decrease in adjusted net income in 2017 compared to 2016 was primarily due to lower realized commodity prices , and higher general and administrative expenses , production expenses and interest costs , which were partially offset by lower depletion expense and higher production volumes . the decrease in adjusted net income in 2016 compared to 2015 was primarily due to lower realized commodity prices and production volumes , as well as higher interest costs , which were partially offset by lower depletion expense and other operating expenses . we define adjusted ebitda as net income before ( i ) interest expense , ( ii ) income taxes , ( iii ) depreciation , depletion , amortization , and accretion , ( iv ) ( gain ) loss on the mark-to-market of derivative instruments , ( v ) non-cash share based compensation expense , ( vi ) write-off of debt issuance costs , ( vii ) loss on the extinguishment of debt , and ( viii ) impairment of oil and natural gas properties . adjusted ebitda for 2017 was $ 144.7 million , compared to adjusted ebitda of $ 148.5 million in 2016 and $ 277.3 million in 2015 . the decrease in adjusted ebitda in 2017 as compared to 2016 is primarily due to lower realized commodity prices and increased general and administrative expenses , partially offset by higher production volumes . the decrease in adjusted ebitda in 2016 as compared to 2015 was primarily due to lower realized commodity prices and lower production volumes . management believes the use of these non-gaap financial measures provides useful information to investors to gain an overall understanding of our current financial performance . specifically , management believes the non-gaap financial measures included herein provide useful information to both management and investors by excluding certain expenses and unrealized commodity gains and losses that our management believes are not indicative of our core operating results . in addition , these non-gaap financial measures are used by management for budgeting and forecasting as well as subsequently measuring our performance , and we believe that we are providing investors with financial measures that most closely align to our internal measurement processes . we consider these non-gaap measures to be useful in evaluating our core operating results as they more closely reflect our essential revenue generating activities and direct operating expenses ( resulting in cash expenditures ) needed to perform these revenue generating activities . our management also believes , based on feedback provided by the investment community , that the non-gaap financial measures are necessary to allow the investment community to construct its valuation models to better compare our results with our competitors and market sector . these measures should be considered in addition to results prepared in accordance with gaap . in addition , these non-gaap financial measures are not based on any comprehensive set of accounting rules or principles . we believe that non-gaap financial measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with gaap and that these measures should only be used to evaluate our results of operations in conjunction with the corresponding gaap financial measures . adjusted net income and adjusted ebitda are non-gaap measures . a reconciliation of these measures to gaap is included below : 52 reconciliation of adjusted net income replace_table_token_22_th _ ( 1 ) for the 2017 columns , this represents the tax impact using an estimated tax rate of 39.1 % and includes adjustments for changes in our valuation allowance of $ 3.7 million , excluding the impact for the tax cuts and jobs act that was enacted on december 22 , 2017. for 2016 and 2015 columns , this represents the tax impact using an estimated tax rate of 37.4 % for 2016 and 36.9 % for 2015 , and includes adjustments for changes in our valuation allowance of $ 109.0 million for 2016 , and $ 232.3 million for 2015 , respectively . 53 reconciliation of adjusted ebitda replace_table_token_23_th liquidity and capital resources overview our main sources of liquidity and capital resources as of the date of this report have been internally generated cash flow from operations , proceeds from senior unsecured notes , credit facility borrowings and cash settlements of derivative contracts . our primary uses of capital have been for the acquisition and development of our oil and gas properties . we continually monitor potential capital sources for opportunities to enhance liquidity or otherwise improve our financial position . one

