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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 income (loss) $ (16,429) $ (85,034) $ (11,579)
Adjustments to reconcile net income (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 0 0
Amortization of debt issuance costs 4 0 0
Loss on terminated acquisition 0 76,500 0
Deferred income taxes (1,047) 0 0
Changes in operating assets and liabilities:      
Accounts receivable (5,177) 844 70
Prepaid expenses, 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 0 (7,482) (4,193)
Other property additions (145) (50) (7)
Extension payment on acquisition 0 (15,000) 0
Net cash used in investing activities (71,939) (67,886) (51,434)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from stock offering 92,554 0 0
Stock offering costs (8,114) 0 0
Cash acquired from non-successors in HighPeak business combination 100 0 0
Debt issuance costs (405) 0 0
Contributions from partners 0 54,000 74,023
Distributions to partners 0 (2,780) 0
Net cash provided by financing activities 84,135 51,220 74,023
Net 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 certain cash and non-cash transactions:      
Subscription receivable from exercise of warrants 3,596 0 0
Noncash contributions from Limited Partners (see Note 9 for more detail) 0 0 232,394
Step up in basis of oil and gas properties 0 0 86,301
Non-cash additions to asset retirement obligations (142) 112 312
Stock offering costs of accounting acquiree $ (13,652) $ 0 $ 0