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Consolidated statements of cash flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Mar. 21, 2017
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities        
Net income (loss)   $ (118,902)    
Adjustments to reconcile net (loss) income to net cash provided by operating activities:        
Non-cash reorganization items   0    
Depreciation, depletion and amortization   92,599    
Loss on impairment of assets   42,325    
Write-off of Senior Note issuance costs, discount and premium   0    
Deferred income taxes   0    
Derivative losses (gains)   30,802    
Loss (gain) on sale of assets   25,996    
Loss (gain) on extinguishment of debt   635    
Other   1,573    
Change in assets and liabilities:        
Accounts receivable   (12,092)    
Inventories   (489)    
Prepaid expenses and other assets   3,245    
Accounts payable and accrued liabilities   2,622    
Revenue distribution payable   6,941    
Deferred compensation   9,714    
Net cash provided by operating activities   84,969    
Cash flows from investing activities        
Expenditures for property, plant, and equipment and oil and natural gas properties   (157,718)    
Proceeds from asset dispositions   189,735    
Proceeds from derivative instruments   15,676    
Cash in escrow   42    
Net cash provided by (used in) investing activities   47,735    
Cash flows from financing activities        
Proceeds from long-term debt   33,000    
Repayment of long-term debt   (176,407)    
Repurchase of Senior Notes   0    
Proceeds from rights offering, net   0    
Principal payments under capital lease obligations   (2,017)    
Payment of other financing fees   (4,671)    
Net cash (used in) provided by financing activities   (150,095)    
Net (decrease) increase in cash and cash equivalents   (17,391)    
Cash and cash equivalents at beginning of period   45,123    
Cash and cash equivalents at end of period $ 45,123 27,732    
Predecessor        
Cash flows from operating activities        
Net income (loss) 1,041,959 [1],[2]   $ (415,720) $ (1,333,844)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:        
Non-cash reorganization items (1,012,090)   0 0
Depreciation, depletion and amortization 24,915   122,928 216,574
Loss on impairment of assets 0   282,472 1,507,336
Write-off of Senior Note issuance costs, discount and premium 0   16,970 0
Deferred income taxes 0   0 (177,487)
Derivative losses (gains) (48,006)   22,837 (145,288)
Loss (gain) on sale of assets (206)   117 (1,584)
Loss (gain) on extinguishment of debt 0   0 (31,590)
Other 645   3,611 6,057
Change in assets and liabilities:        
Accounts receivable 198   (9,243) 15,720
Inventories 466   3,576 (1,968)
Prepaid expenses and other assets (497)   (1,620) 481
Accounts payable and accrued liabilities 8,733   25,987 (17,200)
Revenue distribution payable (1,875)   509 (12,075)
Deferred compensation 143   (5,257) (5,524)
Net cash provided by operating activities 14,385   47,167 19,608
Cash flows from investing activities        
Expenditures for property, plant, and equipment and oil and natural gas properties (31,179)   (146,296) (313,481)
Proceeds from asset dispositions 1,884   1,349 42,618
Proceeds from derivative instruments 1,285   90,590 233,605
Cash in escrow 0   48 0
Net cash provided by (used in) investing activities (28,010)   (54,309) (37,258)
Cash flows from financing activities        
Proceeds from long-term debt 270,000   181,000 120,000
Repayment of long-term debt (444,785)   (1,952) (102,978)
Repurchase of Senior Notes 0   0 (9,995)
Proceeds from rights offering, net 50,031   0 0
Principal payments under capital lease obligations (568)   (2,491) (2,400)
Payment of other financing fees (2,410)   0 (1,404)
Net cash (used in) provided by financing activities (127,732)   176,557 3,223
Net (decrease) increase in cash and cash equivalents (141,357)   169,415 (14,427)
Cash and cash equivalents at beginning of period 186,480 $ 45,123 17,065 31,492
Cash and cash equivalents at end of period $ 45,123   $ 186,480 $ 17,065
[1] Includes a loss from the sale of our EOR assets of $25,163 for the fourth quarter. See “Note 6—Acquisitions and divestitures” for additional information.
[2] Includes reorganization items income (expense) related to the Company’s restructuring under Chapter 11 filings of $988,727, $(620), $(1,070), $(858), and $(543) for the Predecessor first quarter, Successor first, second, third, and fourth quarters, respectively. See “Note 4—Fresh start accounting” for additional information.