Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income $ 37,790 $ 74,086 $ 248,827
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion, amortization and accretion 120,284 148,498 149,854
Amortization of debt items and other items 6,834 5,514 2,850
Share-based compensation 3,959 3,690 3,540
Derivative loss (gain) (23,808) 59,887 (53,798)
Derivatives cash receipts (payments), net 45,196 13,941 (28,164)
Gain on debt transactions (47,469) 0 (47,109)
Deferred income taxes (30,287) (64,102) 500
Changes in operating assets and liabilities:      
Oil and natural gas receivables 18,537 (9,563) (2,361)
Joint interest receivables 8,561 (4,766) 5,120
Income taxes 2,014 52,214 11,028
Prepaid expenses and other assets 9,563 (9,346) 3,383
Asset retirement obligation settlements (3,339) (11,443) (28,617)
Cash advances from JV partners 2,028 (15,347) 16,629
Accounts payable, accrued liabilities and other (41,354) (11,036) 40,081
Net cash provided by operating activities 108,509 232,227 321,763
Investing activities:      
Investment in oil and natural gas properties and equipment (17,632) (137,816) (90,741)
Changes in operating assets and liabilities associated with investing activities (26,535) 12,110 (15,450)
Acquisition of property interests (2,919) (188,019) (16,782)
Proceeds from sales of assets, net 0 0 56,588
Purchases of furniture, fixtures and other (530) (89) 0
Net cash used in investing activities (47,616) (313,814) (66,385)
Financing activities:      
Borrowings on credit facility 25,000 150,000 61,000
Repayments on credit facility (50,000) (66,000) (40,000)
Purchase of Senior Second Lien Notes (23,930) 0 0
Issuance of Senior Second Lien Notes 0 0 625,000
Extinguishment of debt – principal 0 0 (903,194)
Extinguishment of debt – premiums 0 0 (21,850)
Payment of interest on 1.5 Lien Term Loan 0 0 (6,623)
Debt transactions costs 0 (939) (17,457)
Other (670) (2,334) (3,622)
Net cash (used in) provided by financing activities (49,600) 80,727 (321,143)
Increase (decrease) in cash and cash equivalents 11,293 (860) (65,765)
Cash and cash equivalents, beginning of period 32,433 33,293 99,058
Cash and cash equivalents, end of period 43,726 32,433 33,293
Second Lien PIK Toggle Notes [Member]      
Financing activities:      
Payment of interest on Lien PIK Toggle Notes 0 0 (9,725)
Third Lien PIK Toggle Notes [Member]      
Financing activities:      
Payment of interest on Lien PIK Toggle Notes $ 0 $ 0 $ (4,672)