v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 46,737 $ 64,527
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 93,736 110,680
Amortization of debt items and other items 5,251 3,914
Share-based compensation 3,142 2,429
Derivative loss (gain) (35,337) 41,228
Cash receipts on derivative settlements, net 42,028 17,583
Gain on purchase of debt (47,469) 0
Deferred income taxes (23,407) (55,764)
Changes in operating assets and liabilities:    
Oil and natural gas receivables 35,959 (3,822)
Joint interest receivables 9,039 (15,850)
Prepaid expenses and other assets 7,951 (14,211)
Income tax 1,993 17,165
Asset retirement obligation settlements (2,788) (7,740)
Cash advance from JV partner 2,442 15,847
Accounts payable, accrued liabilities and other (24,539) 10,610
Net cash provided by operating activities 114,738 186,596
Investing activities:    
Investment in oil and natural gas properties and equipment (41,183) (93,482)
Acquisition of property interest in oil and natural gas properties (456) (167,718)
Purchases of furniture, fixtures and other (70) (20)
Net cash used in investing activities (41,709) (261,220)
Borrowings on credit facility 25,000 150,000
Repayments on credit facility (50,000) (66,000)
Purchase of Senior Second Lien Notes (23,930) 0
Debt issuance costs and other 0 (928)
Net cash (used in) provided by financing activities (48,930) 83,072
Increase in cash and cash equivalents 24,099 8,448
Cash and cash equivalents, beginning of period 32,433 33,293
Cash and cash equivalents, end of period $ 56,532 $ 41,741

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