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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
1 Months Ended 2 Months Ended 3 Months Ended
Feb. 09, 2021
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ 5,383 $ 295 $ (8,313)
Adjustments to reconcile net income (loss) to cash provided by operating activities:      
Depreciation, depletion and amortization 72 122 603
Deferred income tax benefit (57) 0 (10)
Derivative (gains) losses, net 382 (46) (907)
Cash receipts (payments) on derivative settlements, net (17) (32) 89
Stock-based compensation 3 0 5
Gains on sales of assets (5) (4) 0
Impairments 0 0 8,522
Non-cash reorganization items, net (6,680) 0 0
Exploration 2 0 279
Gains on purchases or exchanges of debt 0 0 (63)
Other 45 4 31
Changes in assets and liabilities 851 70 161
Net cash provided by (used in) operating activities (21) 409 397
Cash flows from investing activities:      
Capital expenditures (66) (77) (518)
Proceeds from divestitures of property and equipment 0 4 7
Net cash used in investing activities (66) (73) (511)
Cash flows from financing activities:      
Proceeds from Exit Credit Facility - Tranche A Loans 0 30 0
Payments on Exit Credit Facility - Tranche A Loans (479) (80) 0
Proceeds from pre-petition revolving credit facility borrowings 0 0 2,331
Payments on pre-petition revolving credit facility borrowings 0 0 (2,021)
Payments on DIP Facility borrowings (1,179) 0 0
Proceeds from issuance of senior notes, net 1,000 0 0
Proceeds from issuance of common stock 600 0 0
Debt issuance and other financing costs (8) (3) 0
Cash paid to purchase debt 0 0 (93)
Cash paid for preferred stock dividends 0 0 (22)
Other (1) 0 (5)
Net cash provided by (used in) financing activities (67) (53) 190
Net increase (decrease) in cash, cash equivalents and restricted cash (154) 283 76
Cash, cash equivalents and restricted cash, beginning of period 279 125 6
Cash, cash equivalents and restricted cash, end of period 125 408 82
Total cash, cash equivalents and restricted cash 125 125 82
Supplemental cash flow information:      
Cash paid for reorganization items, net 66 18 0
Interest paid, net of capitalized interest 13 0 113
Income taxes paid, net of refunds received 0 (3) 0
Supplemental disclosure of significant non-cash investing and financing activities:      
Put option premium on equity backstop agreement 60 0 0
Change in accrued drilling and completion costs      
Supplemental disclosure of significant non-cash investing and financing activities:      
Change in accrued drilling and completion costs $ (5) $ (12) $ (29)