v3.19.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
2 Months Ended 10 Months Ended 12 Months Ended
Dec. 31, 2016
Oct. 20, 2016
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income (loss) $ 9,930   $ 49,784 $ (85,077)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:        
Gains (losses) on commodity derivative contracts - net     (3,555) (3,659)
Net cash received (paid) for commodity derivative contracts not designated as hedging instruments     (7,328) 6,891
Asset retirement accretion 210   846 1,100
Depreciation, depletion, and amortization 12,974   62,000 65,832
Impairment in carrying value of oil and gas properties       125,300
Share-based compensation, net of amounts capitalized to oil and gas properties 2,909   5,407 9,196
Amortization of deferred financing costs 63   476 385
Change in operating assets and liabilities:        
Accounts receivable - oil and gas sales (115)   8,690 2,766
Accounts receivable - JIB and other (1,812)   (744) 3,362
Other current and noncurrent assets 1,783   537 283
Accounts payable (1,555)   (1,779) 2,961
Accrued liabilities (740)   (7,145) (8,973)
Other (3)   (34) (765)
Net cash provided by operating activities 23,644   107,155 119,602
CASH FLOWS FROM INVESTING ACTIVITIES:        
Investment in property and equipment (23,346)   (112,398) (130,199)
Proceeds from the sale of oil and gas properties     54,091 2,885
Proceeds from the sale of oil and gas equipment     355 1,350
Net cash used in investing activities (23,346)   (57,952) (125,964)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from revolving credit facility     1,000  
Repayment of revolving credit facility     (106,000)  
Deferred financing costs     (508) (375)
Repurchase of restricted stock for tax withholdings     (852) (1,603)
Net cash (used in) provided by financing activities     (106,360) (1,978)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 298   (57,157) (8,340)
Cash and cash equivalents, beginning of period 76,540   68,498 76,838
Cash and cash equivalents, end of period 76,838 $ 76,540 $ 11,341 $ 68,498
Predecessor        
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income (loss)   1,323,079    
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:        
Asset retirement accretion   1,414    
Depreciation, depletion, and amortization   62,302    
Impairment in carrying value of oil and gas properties   232,108    
Share-based compensation, net of amounts capitalized to oil and gas properties   2,564    
Amortization of deferred financing costs   4,587    
Paid-in-kind interest expense   3,531    
Amortization of deferred gain on debt restructuring   (8,246)    
Operating lease abandonment   1,574    
Non-cash reorganization items   (1,630,873)    
Change in operating assets and liabilities:        
Accounts receivable - oil and gas sales   (2,391)    
Accounts receivable - JIB and other   22,002    
Other current and noncurrent assets   (5,868)    
Accounts payable   1,797    
Accrued liabilities   55,160    
Other   (743)    
Net cash provided by operating activities   61,997    
CASH FLOWS FROM INVESTING ACTIVITIES:        
Investment in property and equipment   (133,307)    
Net cash used in investing activities   (133,307)    
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from revolving credit facility   249,384    
Repayment of long-term borrowings   (60,000)    
Repayment of revolving credit facility   (121,324)    
Deferred financing costs   (1,250)    
Repurchase of restricted stock for tax withholdings   (53)    
Net cash (used in) provided by financing activities   66,757    
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS   (4,553)    
Cash and cash equivalents, beginning of period $ 76,540 81,093    
Cash and cash equivalents, end of period   $ 76,540    

Source