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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (140,722) $ 172,682
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for (benefit from) income taxes 142,466 (42,077)
Depletion 72,204 51,408
(Gain) loss on derivative instruments, net 47,469 0
Net cash payments on derivatives (18,718) 0
(Gain) loss on extinguishment of debt 6 0
(Gain) loss on revaluation of investment 8,661 (3,978)
Amortization of debt issuance costs 1,730 676
Non-cash unit-based compensation 945 1,326
Changes in operating assets and liabilities:    
Royalty income receivable 25,981 (4,465)
Royalty income receivable—related party (4,335) (10,544)
Accounts payable and accrued liabilities 7,644 (821)
Accounts payable—related party (150) 0
Income tax payable 0 169
Other current assets 25 (148)
Net cash provided by (used in) operating activities 143,206 164,228
Cash flows from investing activities:    
Acquisitions of oil and natural gas interests (64,508) (319,696)
Funds held in escrow 0 (7,500)
Proceeds from sale of assets 2,098 0
Proceeds from the sale of investments 5,262 0
Net cash provided by (used in) investing activities (57,148) (327,196)
Cash flows from financing activities:    
Proceeds from borrowings under credit facility 95,000 368,000
Repayment on credit facility (65,000) (369,500)
Debt issuance costs (90) (349)
Repayment of senior notes (19,697) 0
Proceeds from public offerings 0 340,860
Public offering costs 0 (221)
Units purchased for tax withholding (384) (353)
Distributions to General Partner (60) (60)
Distributions to public (38,943) (78,590)
Distributions to Diamondback (53,112) (99,543)
Net cash provided by (used in) financing activities (82,286) 160,244
Net increase (decrease) in cash 3,772 (2,724)
Cash and cash equivalents at beginning of period 3,602 22,676
Cash and cash equivalents at end of period 7,374 19,952
Supplemental disclosure of cash flow information:    
Interest paid $ 19,196 $ 10,882