v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income (loss) $ 60,076 $ (11,372)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 68,609 71,839
Amortization of debt items and other items 3,682 2,485
Share-based compensation 2,067 1,181
Derivative loss (gain) (46,498) 47,081
Cash receipts on derivative settlements, net 37,566 12,792
Gain on purchase of debt (47,469) 0
Deferred Income taxes (2,207) (11,523)
Changes in operating assets and liabilities:    
Oil and natural gas receivables 34,984 5,992
Joint interest receivables 4,743 (24,162)
Prepaid expenses and other assets 3,505 (8,134)
Income tax 2,008 0
Asset retirement obligation settlements (2,164) (2,641)
Cash advance from JV partner 5,850 18,527
Accounts payable, accrued liabilities and other (31,274) 4,251
Net cash provided by operating activities 93,478 106,316
Investing activities:    
Investment in oil and natural gas properties and equipment (39,949) (63,149)
Acquisition of property interest in oil and natural gas properties (456) (10,000)
Purchases of furniture, fixtures and other (70) 0
Net cash used in investing activities (40,475) (73,149)
Borrowings on credit facility 25,000 0
Repayments on credit facility (50,000) 0
Purchase of Senior Second Lien Notes (23,930) 0
Debt issuance costs and other 0 (751)
Net cash used in financing activities (48,930) (751)
Increase in cash and cash equivalents 4,073 32,416
Cash and cash equivalents, beginning of period 32,433 33,293
Cash and cash equivalents, end of period $ 36,506 $ 65,709

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