Parent Guarantor (Tables)

6 Months Ended

Jun. 30, 2019

Condensed Consolidating Balance Sheets



	As of June 30, 2019
	Parent Guarantor		Subsidiary Issuer		Intercompany Eliminations			Consolidated
	(in thousands)
Assets:
Cash and cash equivalents	$	—	$	16,112	$	—		$	16,112
Accounts receivable, net of allowance for doubtful accounts	—		54,440		—			54,440
Other current assets	—		17,163		—			17,163
Property and equipment, net	—		2,137,664		—			2,137,664
Investment in subsidiaries	1,116,393		—		(1,116,393		)	—
Noncurrent assets	—		13,309		—			13,309
Total assets	$	1,116,393	$	2,238,688	$	(1,116,393	)	$	2,238,688
Liabilities and Stockholders' Equity:
Accounts payable and other accrued liabilities	$	—	$	119,809	$	—		$	119,809
Other current liabilities	—		83,955		—			83,955
Long-term debt	—		768,149		—			768,149
Deferred income taxes	—		109,933		—			109,933
Other noncurrent liabilities	—		40,449		—			40,449
Stockholders' equity	1,116,393		1,116,393		(1,116,393		)	1,116,393
Total liabilities and stockholders' equity	$	1,116,393	$	2,238,688	$	(1,116,393	)	$	2,238,688



	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 other 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

Condensed Consolidating Statements of Operations



	Three Months Ended June 30, 2019
	Parent Guarantor			Subsidiary Issuer			Intercompany Eliminations		Consolidated
	(in thousands)
Operating and other revenues	$	—		$	107,584		$	—	$	107,584
Operating expenses	—			(102,300		)	—		(102,300		)
General and administrative	—			(12,401		)	—		(12,401		)
Merger transaction expense	—			—			—		—
Interest expense	—			(14,381		)	—		(14,381		)
Interest income and other income (expense)	—			19,698			—		19,698
Income (loss) before income taxes and equity in earnings (loss) of subsidiaries	—			(1,800		)	—		(1,800		)
(Provision for) benefit from income taxes	—			(110		)	—		(110		)
Equity in earnings (loss) of subsidiaries	(1,910		)	—			1,910		—
Net income (loss)	$	(1,910	)	$	(1,910	)	$	1,910	$	(1,910	)

	Six Months Ended June 30, 2019
	Parent Guarantor			Subsidiary Issuer			Intercompany Eliminations		Consolidated
	(in thousands)
Operating and other revenues	$	—		$	209,564		$	—	$	209,564
Operating expenses	—			(196,590		)	—		(196,590		)
General and administrative	—			(25,061		)	—		(25,061		)
Merger transaction expense	—			(2,414		)	—		(2,414		)
Interest expense	—			(28,060		)	—		(28,060		)
Interest income and other income (expense)	—			(85,179		)	—		(85,179		)
Income (loss) before income taxes and equity in earnings (loss) of subsidiaries	—			(127,740		)	—		(127,740		)
(Provision for) benefit from income taxes	—			29,601			—		29,601
Equity in earnings (loss) of subsidiaries	(98,139		)	—			98,139		—
Net income (loss)	$	(98,139	)	$	(98,139	)	$	98,139	$	(98,139	)



	Three Months Ended June 30, 2018
	Parent Guarantor			Subsidiary Issuer			Intercompany Eliminations		Consolidated
	(in thousands)
Operating and other revenues	$	—		$	110,398		$	—	$	110,398
Operating expenses	—			(75,725		)	—		(75,725		)
General and administrative	—			(11,624		)	—		(11,624		)
Merger transaction expense	—			(1,277		)	—		(1,277		)
Interest expense	—			(13,093		)	—		(13,093		)
Interest income and other income (expense)	—			(55,585		)	—		(55,585		)
Income (loss) before income taxes and equity in earnings (loss) of subsidiaries	—			(46,906		)	—		(46,906		)
(Provision for) benefit from income taxes	—			—			—		—
Equity in earnings (loss) of subsidiaries	(46,906		)	—			46,906		—
Net income (loss)	$	(46,906	)	$	(46,906	)	$	46,906	$	(46,906	)

	Six Months Ended June 30, 2018
	Parent Guarantor			Subsidiary Issuer			Intercompany Eliminations		Consolidated
	(in thousands)
Operating and other revenues	$	—		$	191,208		$	—	$	191,208
Operating expenses	—			(133,870		)	—		(133,870		)
General and administrative	—			(21,731		)	—		(21,731		)
Merger transaction expense	—			(6,040		)	—		(6,040		)
Interest expense	—			(26,183		)	—		(26,183		)
Interest income and other income (expense)	—			(75,227		)	—		(75,227		)
Income (loss) before income taxes and equity in earnings (loss) of subsidiaries	—			(71,843		)	—		(71,843		)
(Provision for) benefit from income taxes	—			—			—		—
Equity in earnings (loss) of subsidiaries	(71,843		)	—			71,843		—
Net income (loss)	$	(71,843	)	$	(71,843	)	$	71,843	$	(71,843	)

Condensed Consolidating Statements of Cash Flows



	Six Months Ended June 30, 2019
	Parent Guarantor		Subsidiary Issuer			Intercompany Eliminations		Consolidated
	(in thousands)
Cash flows from operating activities	$	—	$	98,545		$	—	$	98,545
Cash flows from investing activities:
Additions to oil and gas properties, including acquisitions	—		(258,153		)	—		(258,153		)
Additions to furniture, fixtures and other	—		(3,574		)	—		(3,574		)
Proceeds from sale of properties	—		1,334			—		1,334
Other investing activities	—		(1,432		)			(1,432		)
Cash flows from financing activities:
Proceeds from debt	—		150,000			—		150,000
Principal payments on debt	—		(1,859		)	—		(1,859		)
Other financing activities	—		(1,523		)	—		(1,523		)
Change in cash and cash equivalents	—		(16,662		)	—		(16,662		)
Beginning cash and cash equivalents	—		32,774			—		32,774
Ending cash and cash equivalents	$	—	$	16,112		$	—	$	16,112



	Six Months Ended June 30, 2018
	Parent Guarantor		Subsidiary Issuer			Intercompany Eliminations		Consolidated
	(in thousands)
Cash flows from operating activities	$	—	$	68,887		$	—	$	68,887
Cash flows from investing activities:
Additions to oil and gas properties, including acquisitions	—		(220,816		)	—		(220,816		)
Additions to furniture, fixtures and other	—		(470		)	—		(470		)
Payment of acquiree's debt associated with merger, net of cash acquired	—		(53,357		)	—		(53,357		)
Proceeds from sale of properties	—		194			—		194
Other investing activities	—		336			—		336
Cash flows from financing activities:
Principal payments on debt	—		(232		)	—		(232		)
Other financing activities	—		(1,629		)	—		(1,629		)
Change in cash and cash equivalents	—		(207,087		)	—		(207,087		)
Beginning cash and cash equivalents	—		314,466			—		314,466
Ending cash and cash equivalents	$	—	$	107,379		$	—	$	107,379