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Condensed Consolidated and Combined Statement of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net income $ 9,293 $ 25,701
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 20,310 9,609
Share-based compensation expense 8,232 0
Loss on extinguishment of debt 6,933 0
Amortization of debt issue costs 354 501
Deferred income taxes 2 303
Loss on derivative instruments, net 521 1,194
Loss on derivative instruments, net 356 (670)
Gain on sale of equity securities 0 (823)
Bad debt expense 293 0
Changes in operating assets and liabilities:    
Increase in accounts receivable (2,612) (9,342)
Decrease (increase) in other current assets 970 (4,845)
Increase in accounts payable and accrued liabilities 1,827 218
Increase in other long-term liabilities 46 0
Net cash provided by operating activities 46,525 21,846
Cash flows from investing activities    
Acquisitions of oil and gas properties (181,484) (164,051)
Additions to other fixed assets (400) (571)
Proceeds from sale of oil and gas properties, net 2,001 125
Proceeds from sale of equity securities 0 933
Changes in restricted cash held in escrow for acquisitions 33 (933)
Net cash (used in) provided by investing activities (179,850) (164,497)
Cash flows from financing activities    
Payments of short-term related party loan 0 (7,000)
Borrowings of short-term related party loan 0 7,000
Payments of short-term debt (4,596) 0
Payments of long-term debt (195,404) (70,000)
Borrowings of long-term debt 70,000 193,000
Payment of debt extinguishment fees (2,091) 0
Proceeds from issuance of Class A common stock sold in initial public offering, net of offering costs 277,075 0
Capital contributions 0 46,011
Dividends paid (7,206) 0
Distributions to holders of temporary equity (9,379) 0
Loan closing costs (1,211) (4,614)
Net cash provided by (used in) financing activities 127,188 164,397
(Decrease) increase in cash and cash equivalents (6,137) 21,746
Cash and cash equivalents, beginning of period 31,985 6,886
Cash and cash equivalents, end of period 25,848 28,632
Supplemental disclosure of non-cash activity:    
Equity securities distributed 0 (3,313)
Accrued capital expenditures 286 5
Capitalized share-based compensation expense 2,425 0
Temporary equity cumulative adjustment to fair value 93,546 0
Supplemental cash flow information:    
Cash interest payments 5,657 2,888
Cash paid for taxes $ 1,014 $ 84