XML 55 R6.htm IDEA: XBRL DOCUMENT v3.20.1
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) $ (30,088) $ 117,962 $ (11,948)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation, depletion, amortization, accretion and impairment of oil and gas properties 137,937 141,815 37,152
Deferred income taxes (benefit) 2,143 18,157 1,690
Stock-based compensation 6,301 6,522 1,245
(Gain) loss on disposition of property and equipment (11,117) 499 (4,995)
(Gain) loss on derivative instruments 65,602 (92,534) 16,706
Net cash (paid) received in settlement of derivative instruments (15,294) (14,683) 74
Amortization of debt issuance costs 1,943 2,139 274
Write-off of undeveloped and exploratory costs 12,377 0 0
Settlement of asset retirement obligations (7) (801) (840)
(Gain) loss from revaluation of tax receivable agreement liability 170 3,518 0
Changes in operating assets and liabilities:      
Increase in accounts receivable and accounts receivable, related parties (2,563) (14,816) (8,230)
Decrease (increase) in prepaid and other assets 259 (59) (451)
Increase (decrease) in accounts payable and accrued liabilities and other (180) 8,526 7,476
Increase (decrease) in accounts payable, related parties (74) 64 (394)
Net cash provided by operating activities 167,409 176,309 37,759
Cash flows from investing activities:      
Additions to oil and natural gas properties (249,864) (377,897) (149,832)
Acquisition of White Wolf 0 (4,005) (114,843)
Acquisition of land and leasehold, royalty and mineral interest (1,262) (15,281) (6,500)
Proceeds received from disposition of oil and natural gas properties 21,770 0 6,252
Additions to other property and equipment (1,039) (2,160) (574)
Proceeds from sale of other property and equipment 0 0 0
Net cash used in investing activities (230,395) (399,343) (265,497)
Cash flows from financing activities:      
Proceeds from revolving credit facility 128,000 274,000 66,000
Repayment on revolving credit facility (62,000) (80,000) (121,000)
Proceeds from Class A Common Stock offering 0 40,511 0
Class A Common Stock offering issuance costs 0 (1,155) 0
Proceeds from issuance of Series A Preferred Stock and Warrants 0 0 95,000
Series A Preferred Stock issuance costs 0 0 (4,220)
Proceeds from issuance of Series B Preferred Stock 0 0 150,000
Series B Preferred Stock upfront fees and transaction costs 0 (20) (10,017)
Proceeds from Second lien notes, net 0 0 97,000
Net proceeds from the Transaction 0 0 18,688
Distribution to noncontrolling interest 0 0 (40,487)
Distribution to Tema 0 0 (2,267)
Debt issuance costs (799) (3,330) (4,640)
Dividends paid on preferred stock (19,120) (10,716) (38)
Restricted stock used for tax withholdings (246) (749) 0
Payment on capital lease obligation (15) (32) (33)
Net cash provided by financing activities 45,820 218,509 243,986
Net increase (decrease) in cash, cash equivalents, and restricted cash (17,166) (4,525) 16,248
Cash, cash equivalents and restricted cash beginning of period 20,157 24,682 8,434
Cash, cash equivalents and restricted cash end of period 2,991 20,157 24,682
Supplemental disclosures:      
Cash paid for interest 23,305 17,065 1,889
Supplemental noncash activity:      
Asset retirement obligations incurred, net of revision of estimates (308) 4,697 5,766
Changes in accrued capital expenditures 7,498 14,516 42,602
Changes in accounts payable for capital expenditures 6,712 7,456 25,541
Total cash, cash equivalents and restricted cash 2,991 20,157 24,682
Series A Preferred Stock      
Supplemental noncash activity:      
Series A Preferred Stock dividends paid-in-kind 4,141 3,971 5,530
Series B Preferred Stock      
Supplemental noncash activity:      
Series B Preferred Stock dividends paid-in-kind 0 6,120 626
Series B Preferred Stock deemed dividend $ 1,529 $ 1,345 $ 174