Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net (loss) income $ (41,478) $ 37,790 $ 74,086
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation, depletion, amortization and accretion 113,447 120,284 148,498
Amortization of debt items and other items 6,555 6,834 5,514
Share-based compensation 3,364 3,959 3,690
Derivative loss (gain) 175,313 (23,808) 59,887
Derivative cash (payments) receipts, net (81,298) 45,196 22,064
Derivative cash premium payments (40,484)   (8,123)
Gain on debt transactions 0 (47,469) 0
Deferred income taxes (8,189) (30,287) (64,102)
Changes in operating assets and liabilities:      
Oil and natural gas receivables (16,089) 18,537 (9,563)
Joint interest receivables 1,095 8,561 (4,766)
Prepaid expenses and other assets (20) 2,014 (9,346)
Income tax (5,103) 9,563 52,214
Asset retirement obligation settlements (27,309) (3,339) (11,443)
Cash advances from JV partners 7,765 2,028 (15,347)
Accounts payable, accrued liabilities and other 46,099 (41,354) (11,036)
Net cash provided by operating activities 133,668 108,509 232,227
Investing activities:      
Investment in oil and natural gas properties and equipment (32,062) (17,632) (137,816)
Changes in operating assets and liabilities associated with investing activities 5,277 (26,535) 12,110
Acquisition of property interests (661) (2,919) (188,019)
Purchases of furniture, fixtures and other 2 (530) (89)
Net cash used in investing activities (27,444) (47,616) (313,814)
Financing activities:      
Borrowings on credit facility   25,000 150,000
Repayments on credit facility (80,000) (50,000) (66,000)
Purchase of Senior Second Lien Notes 0 (23,930) 0
Proceeds from Term Loan 215,000 0 0
Repayments on Term Loan (24,142) 0 0
Debt issuance costs (9,810) 0 (939)
Other (782) (670) (2,334)
Net cash provided by (used in) financing activities 100,266 (49,600) 80,727
Increase in cash and cash equivalents 206,490 11,293 (860)
Cash and cash equivalents and restricted cash, beginning of period 43,726 32,433 33,293
Cash and cash equivalents and restricted cash, end of period $ 250,216 $ 43,726 $ 32,433