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Condensed Consolidated and Combined Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
1 Months Ended 2 Months Ended 3 Months Ended 8 Months Ended 9 Months Ended
Dec. 31, 2020
Sep. 30, 2020
Aug. 21, 2020
Sep. 30, 2021
Mar. 31, 2021
Sep. 30, 2020
Mar. 31, 2020
Aug. 21, 2020
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:                    
Net income (loss)   $ (11,516) $ (56) $ 8,047 $ 4,744 $ (56) $ (80,831) $ (85,034) $ 18,534  
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:                    
Exploration and abandonment expense   14           4 698  
Depletion, depreciation and amortization expense   2,327 1,294 13,917       6,385 43,737  
Accretion expense   15           89 116  
Stock-based compensation expense   14,508           0 2,894  
Amortization of debt issuance costs   0           0 259  
Derivative-related activity   0 0 6,844       0 19,402  
Loss on terminated acquisition   0           76,500 0  
Deferred income taxes   (3)           0 4,680  
Changes in operating assets and liabilities:                    
Accounts receivable   (3,404)           844 (16,168)  
Prepaid expenses, inventory and other assets   (357)           (196) (7,816)  
Accounts payable, accrued liabilities and other current liabilities   9,109           (2,694) 21,401  
Net cash provided by (used in) operating activities   10,693           (4,102) 87,737  
CASH FLOWS FROM INVESTING ACTIVITIES:                    
Additions to crude oil and natural gas properties   (17,908)           (49,364) (154,599)  
Changes in working capital associated with crude oil and natural gas property additions   (23,421)           7,348 15,995  
Acquisitions of crude oil and natural gas properties   (704)           (3,338) (53,276)  
Proceeds from sales of properties   0           0 3,234  
Other property additions   0           (50) (453)  
Issuance of notes receivable   0           (7,482) 0  
Extension payment on acquisition   0           (15,000) 0  
Net cash used in investing activities   (42,033)           (67,886) (189,099)  
CASH FLOWS FROM FINANCING ACTIVITIES:                    
Borrowings under revolving credit facility   0           0 95,000  
Proceeds from exercises of warrants $ 3,600 0           0 5,466  
Proceeds from subscription receivable from exercises of warrants   0           0 3,596  
Proceeds from exercises of stock options   0           0 1,574  
Debt issuance costs   0           0 (1,757)  
Dividends paid   0           0 (9,274)  
Dividend equivalents paid   0           0 (829)  
Proceeds from stock offering   92,554           0 0  
Stock offering costs   (8,383)           0 0  
Cash acquired from non-successors in HighPeak business combination   100           0 0  
Contributions from partners   0           54,000 0  
Distributions to partners   0           (2,780) 0  
Net cash provided by financing activities   84,271           51,220 93,776  
Net (decrease) increase in cash and cash equivalents   52,931           (20,768) (7,586)  
Cash and cash equivalents, beginning of period   1,943     $ 19,552   $ 22,711 22,711 19,552 $ 22,711
Cash and cash equivalents, end of period $ 19,552 54,874 $ 1,943 $ 11,966   $ 54,874   1,943 11,966 $ 54,874
Supplemental disclosure of non-cash transactions:                    
Interest paid   0           0 752  
Income taxes paid   0           0 0  
Additions to asset retirement obligations   $ 15           $ 97 $ 1,841