XML 97 R5.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 214,368 $ 295,560 $ 157,153
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion, and amortization 109,584 122,653 114,534
Accretion of asset retirement obligations 1,117 1,103 1,026
Amortization of deferred charges 1,041 905 877
(Gain) loss on commodity derivative instruments 4,955 (14,831) (26,902)
Net cash (paid) received on settlement of commodity derivative instruments 27,862 (38,235) 15,211
Equity-based compensation 20,484 30,134 33,044
Exploratory dry hole expense 3 6,785 0
Deferred rent 0 1,283 0
(Gain) loss on sale of assets, net 0 (3) (931)
Changes in operating assets and liabilities:      
Accounts receivable 35,044 (31,531) (6,084)
Prepaid expenses and other current assets (167) 210 (177)
Accounts payable, accrued liabilities, and other (1,191) 11,474 (5,671)
Settlement of asset retirement obligations (380) (129) (228)
NET CASH PROVIDED BY OPERATING ACTIVITIES 412,720 385,378 281,852
CASH FLOWS FROM INVESTING ACTIVITIES      
Acquisitions of oil and natural gas properties (43,051) (124,081) (425,667)
Additions to oil and natural gas properties (64,782) (166,970) (55,842)
Payments To Acquire Oil And Gas Leasehold Costs (980) (6,263) (2,806)
Purchases of other property and equipment (2,488) (21) (207)
Proceeds from the sale of oil and natural gas properties 1,174 9,009 11,102
Proceeds from farmouts of oil and natural gas properties 61,504 124,522 19,171
NET CASH USED IN INVESTING ACTIVITIES (48,623) (163,804) (454,249)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of common units, net of offering costs (43) 40,537 32,458
Proceeds from issuance of Series B cumulative convertible preferred units, net of offering costs 0 0 293,469
Distributions to noncontrolling interests 0 (211) (120)
Distributions equivalents paid (2,981) 0 0
Redemption of Series A redeemable preferred units 0 (2,115) (19,704)
Purchase of noncontrolling interests 0 (1,706) 0
Borrowings under credit facility 334,500 373,500 292,500
Repayments under credit facility (350,500) (351,500) (220,500)
Debt issuance costs and other 0 (1,242) (3,075)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (361,392) (221,802) 168,267
NET CHANGE IN CASH AND CASH EQUIVALENTS 2,705 (228) (4,130)
Cash and cash equivalents — beginning of the year 5,414 5,642 9,772
Cash and cash equivalents — end of the year 8,119 5,414 5,642
SUPPLEMENTAL DISCLOSURE      
Interest paid 20,470 19,761 14,761
Common and Subordinated Units      
CASH FLOWS FROM FINANCING ACTIVITIES      
Distributions to unitholders (304,439) (250,121) (194,799)
Repurchases of equity units (16,929) (10,579) (8,185)
Preferred Units      
CASH FLOWS FROM FINANCING ACTIVITIES      
Distributions to unitholders 0 (690) (3,777)
Series B Cumulative Convertible Preferred Units | Preferred Units      
CASH FLOWS FROM FINANCING ACTIVITIES      
Distributions to unitholders $ (21,000) $ (17,675) $ 0