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Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2016
Oct. 10, 2016
Dec. 31, 2015
Dec. 31, 2014
Successor        
Net (loss) income $ (8,985)      
Adjustments to reconcile net loss to net cash provided by operating activities:        
Accretion of asset retirement obligations 49      
Depreciation, depletion and amortization 14,828      
Equity based compensation expense 1,333      
Incentive unit compensation 0      
Noncash transaction costs 0      
Abandonment expense and impairment of unproved properties 0      
Write-off of deferred S-1 related expense 0      
Deferred tax (benefit) expense 0      
(Gain) loss on sale of oil and natural gas properties (24)      
Loss (gain) on derivative instruments 1,548      
Net cash received for derivative settlements 1,054      
Recovery of bad debt 0      
Amortization of debt issuance costs 70      
Changes in operating assets and liabilities:        
Decrease (increase) in accounts receivable (983)      
Increase in prepaid and other assets (1,092)      
Increase (decrease) in accounts payable and other liabilities 1,612      
Net cash provided by operating activities 9,410      
Cash flows from investing activities:        
Proceeds withdrawn from trust account 500,561      
Acquisition of Centennial Resource Production, LLC (1,375,744)      
Acquisition of oil and natural gas properties (849,642)      
Development of oil and natural gas properties (24,107)      
Purchases of other property and equipment (801)      
Development of assets held for sale 0      
Proceeds from sales of oil and natural gas properties and other assets 0      
Proceeds from sale of Atlantic Midstream, net of cash sold 0      
Cash held in escrow 0      
Net cash used by investing activities (1,749,733)      
Cash flows from financing activities:        
Issuance of Class A common shares 1,540,556      
Issuance of Preferred Series B shares 379,494      
Payment of underwriting fees (27,104)      
Payment of deferred underwriting compensation (17,500)      
Proceeds from revolving credit facility 0      
Repayment of revolving credit facility 0      
Capital contributions 0      
Financing obligation (63)      
Debt issuance costs (1,115)      
Repurchase of equity 0      
Proceeds from term loan 0      
Distribution in connection with common control acquisition 0      
Contributions received from noncontrolling interest 0      
Net cash provided by financing activities 1,874,268      
Net increase (decrease) in cash and cash equivalents 133,945      
Cash and cash equivalents, beginning of period 138      
Cash and cash equivalents, end of period 134,083 $ 138    
Supplemental cash flow information        
Cash paid for interest 234      
Supplemental noncash activity        
Accrued capital expenditures included in accounts payable and accrued expenses 65,217      
Financing obligation 0      
Predecessor        
Net (loss) income   (218,724) $ (38,325) $ 17,788
Adjustments to reconcile net loss to net cash provided by operating activities:        
Accretion of asset retirement obligations   134 139 156
Depreciation, depletion and amortization   62,830 89,945 68,954
Equity based compensation expense   0 0 12,420
Incentive unit compensation   165,394 0 0
Noncash transaction costs   14,049 0 0
Abandonment expense and impairment of unproved properties   2,545 7,619 20,025
Write-off of deferred S-1 related expense   0 1,585 0
Deferred tax (benefit) expense   (406) (572) 1,524
(Gain) loss on sale of oil and natural gas properties   (11) (2,439) 2,096
Loss (gain) on derivative instruments   6,838 (20,756) (41,943)
Net cash received for derivative settlements   16,623 35,493 4,611
Recovery of bad debt   0 0 (777)
Amortization of debt issuance costs   376 482 316
Changes in operating assets and liabilities:        
Decrease (increase) in accounts receivable   969 5,244 (6,322)
Increase in prepaid and other assets   (170) (864) (79)
Increase (decrease) in accounts payable and other liabilities   1,293 (8,669) 18,479
Net cash provided by operating activities   51,740 68,882 97,248
Cash flows from investing activities:        
Proceeds withdrawn from trust account   0 0 0
Acquisition of Centennial Resource Production, LLC   0 0 0
Acquisition of oil and natural gas properties   (55,564) (43,223) (22,167)
Development of oil and natural gas properties   (45,605) (156,006) (275,683)
Purchases of other property and equipment   (265) (2,097) (453)
Development of assets held for sale   0 0 (14,240)
Proceeds from sales of oil and natural gas properties and other assets   0 2,691 72,382
Proceeds from sale of Atlantic Midstream, net of cash sold   0 0 71,781
Cash held in escrow   0 0 5,000
Net cash used by investing activities   (101,434) (198,635) (163,380)
Cash flows from financing activities:        
Issuance of Class A common shares   0 0 0
Issuance of Preferred Series B shares   0 0 0
Payment of underwriting fees   0 0 0
Payment of deferred underwriting compensation   0 0 0
Proceeds from revolving credit facility   55,000 92,000 196,000
Repayment of revolving credit facility   (5,000) (83,000) (160,000)
Capital contributions   0 111,396 59,776
Financing obligation   (2,074) (1,633) 0
Debt issuance costs   0 (259) (1,637)
Repurchase of equity   0 0 (119,272)
Proceeds from term loan   0 0 65,000
Distribution in connection with common control acquisition   0 0 (3,051)
Contributions received from noncontrolling interest   0 0 150
Net cash provided by financing activities   47,926 118,504 36,966
Net increase (decrease) in cash and cash equivalents   (1,768) (11,249) (29,166)
Cash and cash equivalents, beginning of period $ 0 1,768 13,017 42,183
Cash and cash equivalents, end of period   0 1,768 13,017
Supplemental cash flow information        
Cash paid for interest   5,092 5,782 1,935
Supplemental noncash activity        
Accrued capital expenditures included in accounts payable and accrued expenses   21,025 13,124 81,510
Financing obligation   $ 0 $ 3,770 $ 0