Supplemental Guarantor/Non-Guarantor Financial Information (Tables)

3 Months Ended

Mar. 31, 2017

Supplemental Guarantor/Non-Guarantor Financial Information

Schedule of Condensed Consolidating Statements of Operations and Comprehensive Income

Supplemental Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
		(in thousands)
			Three Months Ended March 31, 2017
			Parent Guarantor (CPE Inc.)		Issuing Company (CPE Resources)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Revenue			$	1,806	$	―	$	195,728	$	―	$	(1,806)		195,728
Costs and expenses
	Cost of product sold (exclusive of
		depreciation and depletion, amortization,
		and accretion)		―		―		168,939		―		―		168,939
	Depreciation and depletion			―		193		18,452		―		―		18,645
	Accretion			―		―		1,821		―		―		1,821
	(Gain) loss on derivative financial instruments			―		―		2,344		―		―		2,344
	Selling, general and administrative expenses			―		12,520		―		―		(1,806)		10,714
	Debt restructuring costs			―		40		―		―		―		40
	Other operating costs			―		―		176		―		―		176
Total costs and expenses				―		12,753		191,732		―		(1,806)		202,679
Operating income (loss)				1,806		(12,753)		3,996		―		―		(6,951)
Other income (expense)
	Interest income			1		38		―		―		―		39
	Interest expense			(41)		(12,548)		(134)		(189)		―		(12,912)
	Other, net			―		(60)		(310)		60		―		(310)
Total other income (expense)				(40)		(12,570)		(444)		(129)		―		(13,183)
Income (loss) before income tax provision and
	earnings from unconsolidated affiliates			1,766		(25,323)		3,552		(129)		―		(20,134)
	Income tax benefit (expense)			(300)		―		―		―		―		(300)
	Income (loss) from unconsolidated affiliates,
		net of tax		―		2		324		―		―		326
	Income (loss) from consolidated
		affiliates, net of tax		(21,574)		3,745		(129)		―		17,958		―
Net income (loss)				(20,108)		(21,576)		3,747		(129)		17,958		(20,108)
Other comprehensive income (loss)
	Postretirement medical plan amortization
		of prior service cost		(1,821)		(1,821)		(1,821)		―		3,642		(1,821)
	Income tax on postretirement medical plan
		and pension changes		―		―		―		―		―		―
Other comprehensive income (loss)				(1,821)		(1,821)		(1,821)		―		3,642		(1,821)
Total comprehensive income (loss)			$	(21,929)	$	(23,397)	$	1,926	$	(129)	$	21,600	$	(21,929)

Supplemental Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
		(in thousands)
			Three Months Ended March 31, 2016
			Parent Guarantor (CPE Inc.)		Issuing Company (CPE Resources)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Revenue			$	2,145	$	―	$	181,249	$	―	$	(2,145)		181,249
Costs and expenses
	Cost of product sold (exclusive of
		depreciation and depletion, amortization,
		and accretion)		―		21		165,014		―		―		165,035
	Depreciation and depletion			―		320		18,782		―		―		19,102
	Accretion			―		―		2,582		―		―		2,582
	(Gain) loss on derivative financial instruments			―		―		1,962		―		―		1,962
	Selling, general and administrative expenses			―		15,920		―		―		(2,145)		13,775
	Impairments			―		1,982		2,172		―		―		4,154
	Other operating costs			―		―		284		―		―		284
Total costs and expenses				―		18,243		190,796		―		(2,145)		206,894
Operating income (loss)				2,145		(18,243)		(9,547)		―		―		(25,645)
Other income (expense)
	Interest income			―		37		―		―		―		37
	Interest expense			(206)		(10,790)		31		(86)		―		(11,051)
	Other, net			―		(18)		(389)		18		―		(389)
Total other income (expense)				(206)		(10,771)		(358)		(68)		―		(11,403)
Income (loss) before income tax provision and
	earnings from unconsolidated affiliates			1,939		(29,014)		(9,905)		(68)		―		(37,048)
	Income tax benefit (expense)			451		―		970		―		―		1,421
	Income (loss) from unconsolidated affiliates,
		net of tax		―		3		(751)		―		―		(748)
	Income (loss) from consolidated
		affiliates, net of tax		(38,765)		(9,754)		(68)		―		48,587		―
Net income (loss)				(36,375)		(38,765)		(9,754)		(68)		48,587		(36,375)
Other comprehensive income (loss)
	Postretirement medical plan amortization
		of prior service cost		362		362		362		―		(724)		362
	Income tax on postretirement medical plan
		and pension changes		(971)		(971)		(971)		―		1,942		(971)
Other comprehensive income (loss)				(609)		(609)		(609)		―		1,218		(609)
Total comprehensive income (loss)			$	(36,984)	$	(39,374)	$	(10,363)	$	(68)	$	49,805	$	(36,984)

Schedule of Condensed Consolidating Balance Sheet

Supplemental Condensed Consolidating Balance Sheet
(in thousands)
			March 31, 2017
			Parent Guarantor (CPE Inc.)		Issuing Company (CPE Resources)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
ASSETS
Current assets
	Cash and cash equivalents		$	—	$	100,006	$	509	$	—	$	—	$	100,515
	Accounts receivable			—		—		2,958		29,740		—		32,698
	Due from related parties			—		75,645		490		—		(75,716)		419
	Inventories, net			—		(147)		70,148		—		—		70,001
	Income tax receivable			1,344		—		—		—		—		1,344
	Other prepaid and deferred charges			84		—		38,177		—		—		38,261
	Other assets			—		—		802		—		—		802
		Total current assets		1,428		175,504		113,084		29,740		(75,716)		244,040
Noncurrent assets
	Property, plant and equipment, net			—		3,303		1,419,859		—		—		1,423,162
	Goodwill			—		—		2,280		—		—		2,280
	Other assets			1,004,914		1,253,144		45,152		474		(2,258,625)		45,059
		Total assets	$	1,006,342	$	1,431,951	$	1,580,375	$	30,214	$	(2,334,341)	$	1,714,541
LIABILITIES AND MEMBER'S EQUITY
Current liabilities
	Accounts payable		$	—	$	634	$	29,930	$	43	$	—	$	30,607
	Royalties and production taxes			—		—		60,404		—		—		60,404
	Accrued expenses			1,220		11,730		22,879		—		—		35,829
	Due to related parties			3,184		71		50,583		21,877		(75,715)		—
	Other liabilities			—		—		2,570		—		—		2,570
		Total current liabilities		4,404		12,435		166,366		21,920		(75,715)		129,410
Noncurrent liabilities
	Senior notes			—		414,650		—		—		—		414,650
	Asset retirement obligations, net of
		current portion		—		—		106,316		—		—		106,316
	Accumulated postretirement medical benefit
		obligation, net of current portion		—		—		23,309		—		—		23,309
	Royalties and production taxes			—		—		28,615		—		—		28,615
	Other liabilities			6,212		—		10,303		—		—		16,515
		Total liabilities		10,616		427,085		334,909		21,920		(75,715)		718,815
Commitments and Contingencies (Note 13)				—		—		—		—		—
		Total equity		995,726		1,004,866		1,245,466		8,294		(2,258,626)		995,726
		Total liabilities and equity	$	1,006,342	$	1,431,951	$	1,580,375	$	30,214	$	(2,334,341)	$	1,714,541

Supplemental Condensed Consolidating Balance Sheet
(in thousands)
			December 31, 2016
			Parent Guarantor (CPE Inc.)		Issuing Company (CPE Resources)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
ASSETS
Current assets
	Cash and cash equivalents		$	—	$	83,673	$	35	$	—	$	—	$	83,708
	Accounts receivable			—		—		13,261		36,050		—		49,311
	Due from related parties			—		116,486		—		—		(116,486)		—
	Inventories, net			—		70		68,613		—		—		68,683
	Derivative financial instruments			—		—		752		—		—		752
	Income tax receivable			1,601		—		—		—		—		1,601
	Other prepaid and deferred charges			278		—		20,083		—		—		20,361
	Other assets			—		—		741		—		—		741
		Total current assets		1,879		200,229		103,485		36,050		(116,486)		225,157
Noncurrent assets
	Property, plant and equipment, net			—		3,307		1,429,054		—		—		1,432,361
	Goodwill			—		—		2,280		—		—		2,280
	Other assets			1,019,289		1,299,413		52,793		—		(2,316,517)		54,978
		Total assets	$	1,021,168	$	1,502,949	$	1,587,612	$	36,050	$	(2,433,003)	$	1,714,776
LIABILITIES AND MEMBER'S EQUITY
Current liabilities
	Accounts payable		$	4	$	1,748	$	25,896	$	30	$	—	$	27,678
	Royalties and production taxes			—		—		63,018		—		—		63,018
	Accrued expenses			3,646		6,879		25,332		—		—		35,857
	Due to related parties			59,638		71		27,250		29,598		(116,486)		71
	Other liabilities			—		—		2,567		—		—		2,567
		Total current liabilities		63,288		8,698		144,063		29,628		(116,486)		129,191
Noncurrent liabilities
	Senior notes			—		475,009		—		—		—		475,009
	Asset retirement obligations, net of
		current portion		—		—		97,048		—		—		97,048
	Accumulated postretirement medical benefit
		obligation, net of current portion		—		—		22,950		—		—		22,950
	Royalties and production taxes			—		—		21,557		—		—		21,557
	Other liabilities			6,219		—		11,141		—		—		17,360
		Total liabilities		69,507		483,707		296,759		29,628		(116,486)		763,115
Commitments and Contingencies (Note 13)				—		—		—		—		—
		Total equity		951,661		1,019,241		1,290,854		6,422		(2,316,517)		951,661
		Total liabilities and equity	$	1,021,168	$	1,502,948	$	1,587,613	$	36,050	$	(2,433,003)	$	1,714,776

Schedule of Condensed Consolidating Statements of Cash Flows

Supplemental Condensed Consolidating Statement of Cash Flows
(in thousands)
		Three Months Ended March 31, 2017
		Parent Guarantor (CPE Inc.)		Issuing Company (CPE Resources)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net cash provided by (used in) operating
	activities	$	—	$	14,437	$	4,856	$	402	$	—	$	19,695
Investing activities
	Purchases of property, plant and equipment		—		(386)		(3,738)		—		—		(4,124)
Net cash provided by (used in) investing
	activities		—		(386)		(3,738)		—		—		(4,124)
Financing activities
	Repayment of senior notes		—		(62,094)		—		—		—		(62,094)
	Payment of debt refinancing costs		—		—		—		(402)		—		(402)
	Payment of debt restructuring costs		—		(40)		—		—		—		(40)
	Proceeds from issuance of common stock		—		68,850		—		—		—		68,850
	Cash paid for equity offering		—		(4,434)		—		—		—		(4,434)
	Other		—		—		(644)		—		—		(644)
Net cash provided by (used in) financing
	activities		—		2,282		(644)		(402)		—		1,236
Net increase (decrease) in cash and cash equivalents			—		16,333		474		—		—		16,807
Cash and cash equivalents at beginning of period			—		83,673		35		—		—		83,708
Cash and cash equivalents at the end of period		$	—	$	100,006	$	509	$	—	$	—	$	100,515

Supplemental Condensed Consolidating Statement of Cash Flows
(in thousands)
		Three Months Ended March 31, 2016
		Parent Guarantor (CPE Inc.)		Issuing Company (CPE Resources)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Net cash provided by (used in) operating
	activities	$	—	$	(6,894)	$	6,236	$	—	$	—	$	(658)
Investing activities
	Purchases of property, plant and equipment		—		(1,034)		(6,587)		—		—		(7,621)
	Cash paid for capitalized interest		—		—		(352)		—		—		(352)
	Investment in development projects		—		—		(750)		—		—		(750)
	Other		—		—		18		—		—		18
Net cash provided by (used in) investing
	activities		—		(1,034)		(7,671)		—		—		(8,705)
Financing activities
	Other		—		—		(558)		—		—		(558)
Net cash provided by (used in) financing
	activities		—		—		(558)		—		—		(558)
Net increase (decrease) in cash and cash equivalents			—		(7,928)		(1,993)		—		—		(9,921)
Cash and cash equivalents at beginning of period			—		87,054		2,259		—		—		89,313
Cash and cash equivalents at the end of period		$	—	$	79,126	$	266	$	—	$	—	$	79,392