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Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Thousands
4 Months Ended 8 Months Ended 12 Months Ended
Dec. 31, 2020
Aug. 21, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (16,429) $ (85,034) $ (11,579)
Adjustments to reconcile net loss to net cash provided by (used in) operations:      
Exploration and abandonment expense 4,854 4 2,850
Depletion, depreciation and amortization 9,877 6,385 4,269
Accretion expense 51 89 72
Stock based compensation expense 15,776
Amortization of debt issuance costs 4
Loss on terminated acquisition 76,500
Deferred income taxes (1,047)
Changes in operating assets and liabilities:      
Accounts receivable (5,177) 844 70
Inventory and other current assets (506) (196) (209)
Accounts payable and accrued liabilities (1,990) (2,694) 3,755
Net cash provided by (used in) operating activities 5,413 (4,102) (772)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Additions to oil and natural gas properties (64,947) (49,364) (60,998)
Changes in working capital associated with oil and natural gas property additions (5,666) 7,348 24,682
Acquisitions of oil and natural gas properties (1,181) (3,338) (10,918)
Issuance of notes receivable (7,482) (4,193)
Other property additions (145) (50) (7)
Extension payment on acquisition (15,000)
Net cash used in investing activities (71,939) (67,886) (51,434)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from stock offering 92,554
Stock offering costs (8,114)
Cash acquired from non-successors in HighPeak business combination 100
Debt issuance costs (405)
Contributions from partners 54,000 74,023
Distributions to partners (2,780)
Net cash provided by financing activities 84,135 51,220 74,023
Net increase (decrease) in cash and cash equivalents 17,609 (20,768) 21,817
Cash and cash equivalents, beginning of period 1,943 22,711 894
Cash and cash equivalents, end of period 19,552 1,943 22,711
Supplemental disclosure of non-cash transactions:      
Subscription receivable from exercise of warrants 3,596
Noncash contributions from Limited Partners (see Note 9 for more detail) 232,394
Step up in basis of oil and gas properties 86,301
Additions (reductions) to asset retirement obligations (142) 112 312
Stock offering costs of accounting acquiree $ (13,652)