XML 16 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net (loss) income $ (156,906) $ 121,585
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Provision for (benefit from) income taxes 142,466 (34,536)
Depletion 47,424 32,711
Loss on derivative instruments, net 42,385 0
Net cash payments on derivatives (2,554) 0
Gain on extinguishment of debt (14) 0
Loss (gain) on revaluation of investment 6,677 (3,642)
Amortization of debt issuance costs 1,152 441
Non-cash unit-based compensation 670 877
Changes in operating assets and liabilities:    
Royalty income receivable, net 25,971 (7,996)
Royalty income receivable—related party 9,659 (5,549)
Accounts payable and accrued liabilities (832) (2,238)
Accounts payable—related party (150) 0
Income tax payable 0 108
Other current assets (85) (41)
Net cash provided by operating activities 115,863 101,720
Cash flows from investing activities:    
Acquisitions of oil and natural gas interests (65,272) (125,231)
Funds held in escrow 0 (13,215)
Net cash used in investing activities (65,272) (138,446)
Cash flows from financing activities:    
Proceeds from borrowings under credit facility 92,000 171,000
Repayment on credit facility (35,000) (369,500)
Debt issuance costs (44) (258)
Repayment of senior notes (13,787) 0
Proceeds from public offerings 0 340,860
Public offering costs 0 (221)
Units purchased for tax withholding (383) (353)
Distributions to General Partner (40) (40)
Distributions to public (36,928) (49,491)
Distributions to Diamondback (50,348) (65,143)
Net cash (used in) provided by financing activities (44,530) 26,854
Net increase (decrease) in cash 6,061 (9,872)
Cash and cash equivalents at beginning of period 3,602 22,676
Cash and cash equivalents at end of period 9,663 12,804
Supplemental disclosure of cash flow information:    
Interest paid $ 17,918 $ 2,382