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Condensed Consolidated and Combined Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 4,744,000 $ (80,831,000)
Adjustments to reconcile net income (loss) to net cash provided by operations:    
Exploration and abandonment expense 49,000 3,000
Depletion, depreciation and amortization 12,963,000 3,356,000
Accretion expense 35,000 34,000
Stock-based compensation expense 966,000
Amortization of debt issuance costs 29,000
Loss on terminated acquisition 76,500,000
Deferred income taxes 1,115,000
Changes in operating assets and liabilities:    
Accounts receivable (9,193,000) 1,019,000
Inventory and other current assets (12,000) (834,000)
Accounts payable and accrued liabilities 677,000 6,781,000
Net cash provided by operating activities 11,373,000 6,028,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to oil and natural gas properties (44,875,000) (47,658,000)
Changes in working capital associated with oil and natural gas property additions 13,263,000 8,933,000
Acquisitions of oil and natural gas properties (309,000) (3,333,000)
Issuance of notes receivable (3,982,000)
Other property additions (50,000)
Extension payment on acquisition (11,000,000)
Net cash used in investing activities (31,921,000) (57,090,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercises of warrants 5,466,000
Proceeds from subscription receivable from exercises of warrants 3,596,000
Proceeds from exercises of stock options 1,574,000
Debt issuance costs (2,000)
Contributions from partners 54,000,000
Net cash provided by financing activities 10,634,000 54,000,000
Net (decrease) increase in cash and cash equivalents (9,914,000) 2,938,000
Cash and cash equivalents, beginning of period 19,552,000 22,711,000
Cash and cash equivalents, end of period 9,638,000 25,649,000
Supplemental disclosure of non-cash transactions:    
Interest paid 4,000
Income taxes paid
Additions to asset retirement obligations $ 153,000 $ 97,000