Investor Relations

Cash Flow

v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net income $ 64,527 $ 109,983
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 110,680 114,807
Amortization of debt items and other items 3,914 1,796
Share-based compensation 2,429 3,808
Derivative (gain) loss 41,228 5,931
Cash receipts (payments) on derivative settlements, net 17,583 (3,091)
Income taxes (55,764) 363
Changes in operating assets and liabilities:    
Oil and natural gas receivables (3,822) (4,039)
Joint interest receivables (15,850) 3,261
Prepaid expenses and other assets (14,211) (8,467)
Income tax receivables 17,165 (139)
Asset retirement obligation settlements (7,740) (22,764)
Cash advances from JV partners 15,847 27,014
Accounts payable, accrued liabilities and other 10,610 66,389
Net cash provided by operating activities 186,596 294,852
Investing activities:    
Investment in oil and natural gas properties and equipment (93,482) (79,422)
Acquisition of property interest (167,718) (16,782)
Proceeds from sale of assets 50,474
Purchases of furniture, fixtures and other (20)
Net cash used in investing activities (261,220) (45,730)
Financing activities:    
Borrowings of long-term debt - revolving bank credit facility 150,000
Repayments of long-term debt - revolving bank credit facility (66,000)
Payment of interest on 1.5 Lien Term Loan (6,171)
Payment of interest on 2nd Lien PIK Toggle Notes (2,920)
Debt issuance costs and other (928) (26)
Net cash provided by (used in) financing activities 83,072 (9,117)
Increase in cash and cash equivalents 8,448 240,005
Cash and cash equivalents, beginning of period 33,293 99,058
Cash and cash equivalents, end of period $ 41,741 $ 339,063

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