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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
4 Months Ended 8 Months Ended 12 Months Ended
Dec. 31, 2020
Aug. 21, 2020
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (16,429) $ (85,034) $ 236,854 $ 55,559
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:        
Exploration and abandonment expense 4,854 4 146 742
Depletion, depreciation and amortization expense 9,877 6,385 177,742 65,201
Accretion expense 51 89 370 167
Stock-based compensation expense 15,776 0 33,352 6,676
Amortization of debt issuance costs 4 0 5,635 498
Amortization of discounts on 10.000% Senior Notes and 10.625% Senior Notes 0 0 7,735 0
Derivative-related activity 0 0 1,909 15,467
Loss on terminated acquisition 0 76,500 0 0
Deferred income taxes (1,047) 0 75,361 16,904
Changes in operating assets and liabilities:        
Accounts receivable (5,177) 844 (57,218) (31,655)
Prepaid expenses, inventory and other assets (506) (196) (11,959) (7,053)
Accounts payable, accrued liabilities and other current liabilities (1,990) (2,694) 34,087 24,509
Net cash provided by (used in) operating activities 5,413 (4,102) 504,014 147,015
CASH FLOWS FROM INVESTING ACTIVITIES:        
Additions to crude oil and natural gas properties (64,947) (49,364) (1,046,739) (236,242)
Changes in working capital associated with crude oil and natural gas property additions (5,666) 7,348 128,938 37,259
Acquisitions of crude oil and natural gas properties (1,181) (3,338) (262,363) (54,045)
Proceeds from sales of properties 0 0 0 3,366
Other property additions (145) (50) (2,244) (709)
Issuance of notes receivable 0 (7,482) 0 0
Extension payment on acquisition 0 (15,000) 0 0
Net cash used in investing activities (71,939) (67,886) (1,182,408) (250,371)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Borrowings under Credit Agreement 0 0 925,000 120,000
Repayments under Credit Agreement 0 0 (755,000) (20,000)
Proceeds from issuance of 10.000% Senior Notes and 10.625% Senior Notes, net of discount 0 0 440,179 0
Debt issuance costs (405) 0 (17,128) (2,169)
Proceeds from issuance of common stock in private placement 0 0 85,000 0
Proceeds from public stock offering 92,554 0 0 25,300
Proceeds from exercises of warrants 0 0 7,805 5,466
Proceeds from subscription receivable from exercises of warrants 0 0 0 3,596
Proceeds from exercises of stock options 0 0 120 1,573
Dividends paid 0 0 (10,412) (11,593)
Dividend equivalents paid 0 0 (1,196) (1,037)
Stock offering costs (8,114) 0 (339) (2,463)
Cash from non-successors in HighPeak business combination 100 0 0 0
Contribution from partners 0 54,000 0 0
Distribution to partners 0 (2,780) 0 0
Net cash provided by financing activities 84,135 51,220 674,029 118,673
Net (decrease) increase in cash and cash equivalents 17,609 (20,768) (4,365) 15,317
Cash and cash equivalents, beginning of period 1,943 22,711 34,869 19,552
Cash and cash equivalents, end of period 19,552 1,943 30,504 34,869
Supplemental cash flow information:        
Cash paid for interest 0 0 24,268 1,811
Cash paid for income taxes 0 0 0 0
Supplemental disclosure of non-cash transactions:        
Stock issued for acquisitions 0 0 264,982 0
Additions to asset retirement obligations (142) 112 2,879 1,844
Subscription receivable from exercise of warrants 3,596 0 0 0
Stock offering costs of accounting acquiree $ (13,652) $ 0 $ 0 $ 0