v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Operating activities:          
Net (loss) income $ (51,672) $ (5,904) $ (52,418) $ 60,076  
Adjustments to reconcile net (loss) income to net cash provided by operating activities:          
Depreciation, depletion, amortization and accretion     57,589 68,609  
Amortization of debt items and other items     2,967 3,682  
Share-based compensation     921 2,067  
Derivative loss (gain) 81,440 15,414 106,020 (46,498)  
Derivative cash (payments) receipts, net     (41,130) 37,566  
Gain on debt transactions 0 (28,968) 0 (47,469)  
Deferred income taxes     (13,006) (2,207)  
Changes in operating assets and liabilities:          
Oil and natural gas receivables     (11,390) 34,984  
Joint interest receivables     (910) 4,743  
Prepaid expenses and other assets     (17,605) 3,505  
Income tax     (92) 2,008  
Asset retirement obligation settlements     (11,213) (2,164)  
Cash advances from JV partners     (3,925) 5,850  
Accounts payable, accrued liabilities and other     30,386 (31,274)  
Net cash provided by operating activities     46,194 93,478  
Investing activities:          
Investment in oil and natural gas properties and equipment     (5,856) (14,138)  
Changes in operating assets and liabilities associated with investing activities     (3,078) (25,811)  
Acquisition of property interests     0 (456)  
Purchases of furniture, fixtures and other     2 (70)  
Net cash used in investing activities     (8,932) (40,475)  
Financing activities:          
Borrowings on credit facility       25,000  
Repayments on credit facility     (80,000) (50,000)  
Purchase of Senior Second Lien Notes     0 (23,930)  
Proceeds from Term Loan     215,000    
Debt issuance costs and other     (6,840)    
Net cash provided by (used in) financing activities     128,160 (48,930)  
Increase in cash and cash equivalents     165,422 4,073  
Cash and cash equivalents, beginning of period     43,726 32,433 $ 32,433
Cash and cash equivalents, end of period $ 209,148 $ 36,506 $ 209,148 $ 36,506 $ 43,726

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