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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:        
Net income (loss) $ (35,909,000) $ 19,536,000 $ 805,000 $ (18,907,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation, depletion and amortization 22,902,000 14,197,000 47,558,000 28,202,000
Impairment of proved and unproved oil and gas properties     42,813,000 0
Impairment of goodwill 0 0 17,620,000 0
Accretion of asset retirement obligations 46,000 54,000 90,000 108,000
Settlement of asset retirement obligations     0 (179,000)
(Gain) loss on sale of oil and gas properties 6,000 201,000 (198,000) 326,000
Total (gain) loss on derivative contracts, net 20,679,000 (9,496,000) (79,105,000) 38,398,000
Operating portion of net cash received in settlement of derivative contracts     39,096,000 9,956,000
Stock-based compensation     5,262,000 4,473,000
Deferred income taxes     (18,000) 153,000
Amortization of deferred financing costs 100,000 100,000 161,000 215,000
Changes in assets and liabilities:        
(Increase) decrease in accounts receivable     15,060,000 (1,257,000)
(Increase) decrease in prepaid expenses and other current assets     (747,000) (537,000)
Increase (decrease) in accounts payable and accrued expenses     (3,410,000) (5,222,000)
Increase (decrease) in revenues and royalties payable     (16,491,000) (3,845,000)
Increase (decrease) in advances     (11,412,000) 3,400,000
Net cash provided by operating activities     57,084,000 55,284,000
Cash flows from investing activities:        
Additions to oil and gas properties     (67,493,000) (79,760,000)
Additions to office and other equipment     (108,000) (202,000)
Proceeds from sales of oil and gas properties     409,000 2,000
Net cash used in investing activities     (67,192,000) (79,960,000)
Cash flows from financing activities:        
Proceeds from borrowings     69,906,000 128,087,000
Repayments of borrowings     (71,318,000) (96,915,000)
Cash paid related to the exchange and cancellation of Class A Common Stock     (382,000) (661,000)
Cash paid for finance leases     (110,000) (237,000)
Deferred financing costs     0 (189,000)
Net cash (used in) provided by financing activities     (1,904,000) 30,085,000
Net (decrease) increase in cash     (12,012,000) 5,409,000
Cash at beginning of period     13,822,000 376,000
Cash at end of period $ 1,810,000 $ 5,785,000 1,810,000 5,785,000
Cash paid for:        
Interest     2,659,000 2,760,000
Non-cash investing and financing activities:        
Accrued capital expenditures     6,220,000 16,714,000
Lease asset additions - ASC 842     0 1,573,000
Asset retirement obligations     $ 43,000 $ 23,000