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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net (loss) income $ (123,850) $ 74,311
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Provision for (benefit from) deferred income taxes 142,466 (34,655)
Depletion 24,642 16,199
Change in fair value of derivative instruments 7,489 0
Loss (gain) on revaluation of investment 10,120 (3,592)
Amortization of debt issuance costs 574 216
Non-cash unit-based compensation 387 405
Changes in operating assets and liabilities:    
Royalty income receivable 20,129 740
Royalty income receivable—related party 10,576 (3,887)
Accounts payable and accrued liabilities 3,665 (3,289)
Accounts payable—related party (150) 0
Income tax payable 0 47
Other current assets 63 (44)
Net cash provided by operating activities 96,111 46,451
Cash flows from investing activities:    
Acquisitions of oil and natural gas interests (64,626) (81,923)
Net cash used in investing activities (64,626) (81,923)
Cash flows from financing activities:    
Proceeds from borrowings under credit facility 92,000 59,500
Repayment on credit facility (15,000) (313,500)
Debt issuance costs (26) (50)
Proceeds from public offerings 0 340,860
Public offering costs 0 (212)
Units purchased for tax withholding (383) (353)
Distributions to General Partner (20) (20)
Distributions to public (30,214) (25,970)
Distributions to Diamondback (41,173) (37,326)
Net cash provided by financing activities 5,184 22,929
Net increase (decrease) in cash 36,669 (12,543)
Cash and cash equivalents at beginning of period 3,602 22,676
Cash and cash equivalents at end of period 40,271 10,133
Supplemental disclosure of cash flow information:    
Interest paid $ 1,617 $ 4,908