Guarantor Subsidiaries (Tables)

12 Months Ended

Dec. 31, 2018

Text Block [Abstract]

Schedule of Condensed Consolidating Balance Sheets

Condensed Consolidating Balance Sheets

	As of December 31, 2018
	Parent Guarantor		Subsidiary Issuer		Intercompany Eliminations			Consolidated
	(in thousands)
Assets:
Cash and cash equivalents	$	—	$	32,774	$	—		$	32,774
Accounts receivable, net of allowance for doubtful accounts	—		72,943		—			72,943
Other current assets	—		84,064		—			84,064
Property and equipment, net	—		2,029,523		—			2,029,523
Investment in subsidiaries	1,212,098		—		(1,212,098		)	—
Noncurrent assets	—		33,156		—			33,156
Total assets	$	1,212,098	$	2,252,460	$	(1,212,098	)	$	2,252,460
Liabilities and Stockholders' Equity:
Accounts payable and accrued liabilities	$	—	$	131,379	$	—		$	131,379
Other current liabilities	—		116,806		—			116,806
Long-term debt	—		617,387		—			617,387
Deferred income taxes	—		139,534		—			139,534
Other noncurrent liabilities	—		35,256		—			35,256
Stockholders' equity	1,212,098		1,212,098		(1,212,098		)	1,212,098
Total liabilities and stockholders' equity	$	1,212,098	$	2,252,460	$	(1,212,098	)	$	2,252,460

	As of December 31, 2017
	Parent Issuer		Subsidiary Guarantors		Intercompany Eliminations			Consolidated
	(in thousands)
Assets:
Cash and cash equivalents	$	314,466	$	—	$	—		$	314,466
Accounts receivable, net of allowance for doubtful accounts	51,415		—		—			51,415
Other current assets	1,782		—		—			1,782
Property and equipment, net	1,016,986		1,894		—			1,018,880
Intercompany receivable	854		—		(854		)	—
Investment in subsidiaries	1,040		—		(1,040		)	—
Noncurrent assets	4,163		—		—			4,163
Total assets	$	1,390,706	$	1,894	$	(1,894	)	$	1,390,706
Liabilities and Stockholders' Equity:
Accounts payable and accrued liabilities	$	84,055	$	—	$	—		$	84,055
Other current liabilities	64,879		—		—			64,879
Intercompany payable	—		854		(854		)	—
Long-term debt	617,744		—		—			617,744
Other noncurrent liabilities	25,474		—		—			25,474
Stockholders' equity	598,554		1,040		(1,040		)	598,554
Total liabilities and stockholders' equity	$	1,390,706	$	1,894	$	(1,894	)	$	1,390,706

Schedule of Condensed Consolidating Statements of Operations

Condensed Consolidating Statements of Operations

	Year Ended December 31, 2018
	Parent Guarantor		Subsidiary Issuer			Intercompany Eliminations			Consolidated
	(in thousands)
Operating and other revenues	$	—	$	453,017		$	—		$	453,017
Operating expenses	—		(319,031		)	—			(319,031		)
General and administrative	—		(45,130		)	—			(45,130		)
Merger transaction expense	—		(7,991		)	—			(7,991		)
Interest expense	—		(52,703		)	—			(52,703		)
Interest income and other income (expense)	—		94,885			—			94,885
Income (loss) before income taxes and equity in earnings (loss) of subsidiaries	—		123,047			—			123,047
(Provision for) Benefit from income taxes	—		(1,827		)	—			(1,827		)
Equity in earnings (loss) of subsidiaries	121,220		—			(121,220		)	—
Net income (loss)	$	121,220	$	121,220		$	(121,220	)	$	121,220

	Year Ended December 31, 2017
	Parent Issuer			Subsidiary Guarantors			Intercompany Eliminations		Consolidated
	(in thousands)
Operating and other revenues	$	252,257		$	582		$	—	$	252,839
Operating expenses	(266,119		)	(1,420		)	—		(267,539		)
General and administrative	(42,476		)	—			—		(42,476		)
Merger transaction expense	(8,749		)	—			—		(8,749		)
Interest expense	(57,710		)	—			—		(57,710		)
Interest income and other income (expense)	(15,992		)	—			—		(15,992		)
Income (loss) before income taxes and equity in earnings (loss) of subsidiaries	(138,789		)	(838		)	—		(139,627		)
(Provision for) Benefit from income taxes	1,402			—			—		1,402
Equity in earnings (loss) of subsidiaries	(838		)	—			838		—
Net income (loss)	$	(138,225	)	$	(838	)	$	838	$	(138,225	)

	Year Ended December 31, 2016
	Parent Issuer			Subsidiary Guarantors			Intercompany Eliminations		Consolidated
	(in thousands)
Operating and other revenues	$	178,191		$	628		$	—	$	178,819
Operating expenses	(235,181		)	(715		)	—		(235,896		)
General and administrative	(42,169		)	—			—		(42,169		)
Interest expense	(59,373		)	—			—		(59,373		)
Interest and other income (expense)	(11,759		)	—			—		(11,759		)
Income (loss) before income taxes and equity in earnings (loss) of subsidiaries	(170,291		)	(87		)	—		(170,378		)
(Provision for) Benefit from income taxes	—			—			—		—
Equity in earnings (loss) of subsidiaries	(87		)	—			87		—
Net income (loss)	$	(170,378	)	$	(87	)	$	87	$	(170,378	)

Schedule of Condensed Consolidating Statements of Comprehensive Income

Condensed Consolidating Statements of Comprehensive Income (Loss)

	Year Ended December 31, 2018
	Parent Guarantor		Subsidiary Issuer		Intercompany Eliminations			Consolidated
	(in thousands)
Net Income (Loss)	$	121,220	$	121,220	$	(121,220	)	$	121,220
Other comprehensive income (loss)	—		—		—			—
Comprehensive Income (Loss)	$	121,220	$	121,220	$	(121,220	)	$	121,220

	Year Ended December 31, 2017
	Parent Issuer			Subsidiary Guarantors			Intercompany Eliminations		Consolidated
	(in thousands)
Net Income (Loss)	$	(138,225	)	$	(838	)	$	838	$	(138,225	)
Other comprehensive income (loss)	—			—			—		—
Comprehensive Income (Loss)	$	(138,225	)	$	(838	)	$	838	$	(138,225	)

	Year Ended December 31, 2016
	Parent Issuer			Subsidiary Guarantors			Intercompany Eliminations		Consolidated
	(in thousands)
Net Income (Loss)	$	(170,378	)	$	(87	)	$	87	$	(170,378	)
Other comprehensive income (loss)	—			—			—		—
Comprehensive Income (Loss)	$	(170,378	)	$	(87	)	$	87	$	(170,378	)

Schedule of Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows

	Year Ended December 31, 2018
	Parent Guarantor		Subsidiary Issuer			Intercompany Eliminations		Consolidated
	(in thousands)
Cash flows from operating activities	$	—	$	231,441		$	—	$	231,441
Cash flows from investing activities:
Additions to oil and gas properties, including acquisitions	—		(453,616		)	—		(453,616		)
Additions to furniture, fixtures and other	—		(853		)	—		(853		)
Repayment of debt associated with merger, net of cash acquired	—		(53,357		)	—		(53,357		)
Proceeds from sale of properties and other investing activities	—		143			—		143
Cash flows from financing activities:
Proceeds from debt	—		—			—		—
Principal payments on debt	—		(469		)	—		(469		)
Proceeds from sale of common stock, net of offering costs	—		1			—		1
Other financing activities	—		(4,982		)	—		(4,982		)
Change in cash and cash equivalents	—		(281,692		)	—		(281,692		)
Beginning cash and cash equivalents	—		314,466			—		314,466
Ending cash and cash equivalents	$	—	$	32,774		$	—	$	32,774

	Year Ended December 31, 2017
	Parent Issuer			Guarantor Subsidiaries			Intercompany Eliminations			Consolidated
	(in thousands)
Cash flows from operating activities	$	121,480		$	510		$	—		$	121,990
Cash flows from investing activities:
Additions to oil and gas properties, including acquisitions	(239,631		)	—			—			(239,631		)
Additions to furniture, fixtures and other	(926		)	—			—			(926		)
Proceeds from sale of properties and other investing activities	99,016			2,530			—			101,546
Intercompany transfers	3,040			—			(3,040		)	—
Cash flows from financing activities:
Proceeds from debt	275,000			—			—			275,000
Principal payments on debt	(322,343		)	—			—			(322,343		)
Proceeds from sale of common stock, net of offering costs	110,710			—			—			110,710
Intercompany transfers	—			(3,040		)	3,040			—
Other financing activities	(7,721		)	—			—			(7,721		)
Change in cash and cash equivalents	38,625			—			—			38,625
Beginning cash and cash equivalents	275,841			—			—			275,841
Ending cash and cash equivalents	$	314,466		$	—		$	—		$	314,466

	Year Ended December 31, 2016
	Parent Issuer			Guarantor Subsidiaries			Intercompany Eliminations			Consolidated
	(in thousands)
Cash flows from operating activities	$	121,109		$	627		$	—		$	121,736
Cash flows from investing activities:
Additions to oil and gas properties, including acquisitions	(106,852		)	(18		)	—			(106,870		)
Additions to furniture, fixtures and other	(1,195		)	—			—			(1,195		)
Proceeds from sale of properties and other investing activities	24,802			125			—			24,927
Intercompany transfers	734			—			(734		)	—
Cash flows from financing activities:
Principal payments on debt	(440		)	—			—			(440		)
Proceeds from sale of common stock, net of offering costs	110,003			—			—			110,003
Intercompany transfers	—			(734		)	734			—
Other financing activities	(1,156		)	—			—			(1,156		)
Change in cash and cash equivalents	147,005			—			—			147,005
Beginning cash and cash equivalents	128,836			—			—			128,836
Ending cash and cash equivalents	$	275,841		$	—		$	—		$	275,841