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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
4 Months Ended 8 Months Ended 12 Months Ended 36 Months Ended
Dec. 31, 2020
Aug. 21, 2020
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income (loss) $ (16,429) $ (85,034) $ 55,559    
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:          
Exploration and abandonment expense 4,854 4 742    
Depletion, depreciation and amortization expense 9,877 6,385 65,201    
Accretion expense 51 89 167    
Stock-based compensation expense 15,776 0 6,676    
Amortization of debt issuance costs 4 0 498    
Derivative-related activity 0 0 15,467    
Loss on terminated acquisition 0 76,500 0    
Deferred income taxes (1,047) 0 16,904    
Changes in operating assets and liabilities:          
Accounts receivable (5,177) 844 (31,655)    
Prepaid expenses, inventory and other assets (506) (196) (7,053)    
Accounts payable, accrued liabilities and other current liabilities (1,990) (2,694) 24,509    
Net cash provided by (used in) operating activities 5,413 (4,102) 147,015    
CASH FLOWS FROM INVESTING ACTIVITIES:          
Additions to crude oil and natural gas properties (64,947) (49,364) (236,242)    
Changes in working capital associated with crude oil and natural gas property additions (5,666) 7,348 37,259    
Acquisitions of crude oil and natural gas properties (1,181) (3,338) (54,045)    
Proceeds from sales of properties 0 0 3,366    
Other property additions (145) (50) (709)    
Issuance of notes receivable 0 (7,482) 0    
Extension payment on acquisition 0 (15,000) 0    
Net cash used in investing activities (71,939) (67,886) (250,371)    
CASH FLOWS FROM FINANCING ACTIVITIES:          
Borrowings under revolving credit facility 0 0 120,000    
Proceeds from public stock offering 92,554 0 25,300    
Proceeds from exercises of warrants 0 0 5,466   $ 3,600
Proceeds from subscription receivable from exercises of warrants 0 0 3,596    
Proceeds from exercises of stock options 0 0 1,573    
Dividend equivalents paid 0 0 (1,037)    
Debt issuance costs (405) 0 (2,169)    
Stock offering costs (8,114) 0 (2,463)    
Dividends paid 0 0 (11,593)    
Repayments under revolving credit facility 0 0 (20,000)    
Cash 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 84,135 51,220 118,673    
Net increase (decrease) in cash and cash equivalents 17,609 (20,768) 15,317    
Cash and cash equivalents, beginning of period 1,943 22,711 19,552 $ 22,711  
Cash and cash equivalents, end of period 19,552 1,943 34,869 $ 19,552 $ 19,552
Supplemental disclosure of additional cash flow information and non-cash activities:          
Cash paid for interest 0 0 1,811    
Cash paid for income taxes 0 0 0    
Additions to asset retirement obligations (142) 112 1,844    
Subscription receivable from exercise of warrants 3,596 0 0    
Stock offering costs of accounting acquiree $ (13,652) $ 0 $ 0