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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (103,558) $ (45,371)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Stock based compensation 1,342 6,333
Bad debt expense (recovery) 1,026 (14)
Amortization of debt issuance cost and debt discount 858 2,295
Deferred income realized (2,268)  
Payable in-kind interest   1,590
Loss on early extinguishment of debts   1,299
(Gain) loss from commodity derivatives, net (16,299) 3,733
Net cash settlement paid for commodity derivative contracts 14,364 (2,594)
Change in fair value of financial instruments (3,238) 335
Impairment of oil and natural gas properties 94,900 16,580
Non-cash reorganization items, net 8,613  
Depreciation, depletion, amortization and accretion of asset retirement obligation 9,999 22,762
Other 61 12
Changes in operating assets and liabilities:    
Accounts receivable 7,649 (3,769)
Prepaid expenses and other assets 90 (670)
Accounts payable and accrued liabilities 58 (47,406)
Proceeds from contract incentive   2,500
Net cash provided by (used in) operating activities 13,597 (42,385)
Cash flows from investing activities:    
Proceeds from the sale of unproved oil and natural gas properties 24,063 16,911
Capital expenditures (11,218) (55,628)
Net cash provided by (used in) investing activities 12,845 (38,717)
Cash flows from financing activities:    
Proceeds from debtor in-possession facility 30,000  
Proceeds from revolving credit agreement   48,000
Debt issuance costs (736) (874)
Repayment of revolving credit agreement (40,076) (18,000)
Proceeds from the Värde financing arrangement, net of transaction costs   38,230
Partial repayment of the Värde financing arrangement   (2,600)
Payment for tax withholding on stock-based compensation (39) (452)
Net cash provided by (used in) financing activities (10,851) 64,304
Net increase (decrease) in cash, cash equivalents and restricted cash 15,591 (16,798)
Cash, cash equivalents and restricted cash at beginning of period 3,753 21,137
Cash, cash equivalents and restricted cash at end of period 19,344 4,339
Supplemental disclosure:    
Cash paid for interest 4,273 $ 4,829
Cash paid for reorganization items $ 3,270