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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Operating activities - cash provided by:      
Net income (loss) for the period $ (217,605) $ 40,674  
Adjustments to reconcile net income (loss) to cash provided by operating activities:      
Depletion, depreciation, and amortization 47,284 51,653  
Ceiling test write-down 242,603    
Unrealized loss (gain) on commodity derivatives (27,945) (14,292)  
Stock compensation 1,180 841  
Payable-in-kind (“PIK”) interest payable 2,917 3,183  
Amortization of premium on debt exchange (10,647) (9,716)  
Amortization of deferred financing costs 3,459 3,123  
Inventory write-down 3,336    
Other (127) 582  
Net changes in operating assets and liabilities:      
Accounts receivable 35,869 50,243  
Other current assets (564) (307)  
Other non-current assets 30 30  
Accounts payable (3,637) (359)  
Accrued liabilities (985) 4,425  
Production taxes payable 18,660 25,743  
Interest payable (6,513) 99  
Other long-term obligations (14,590) (11,663)  
Income taxes payable/receivable 881 6,431  
Net cash provided by operating activities 73,606 150,690  
Investing Activities - cash used in:      
Oil and gas property expenditures (220) (92,352)  
Change in capital cost accrual and accounts payable (2,229) 1,702  
Inventory   419  
Proceeds from sale of capital assets 1,469    
Purchase of capital assets (424) (211)  
Net cash used in investing activities (1,404) (90,442)  
Financing activities - cash used in:      
Deferred financing costs   (488)  
Repurchased shares from net share settlements (8)    
Net cash used in financing activities (67,146) (66,488)  
Increase (decrease) in cash during the period 5,056 (6,240)  
Cash, cash equivalents, and restricted cash, beginning of period 3,441 19,305 $ 19,305
Cash, cash equivalents and restricted cash, end of period 8,497 13,065 $ 3,441
Credit Agreement      
Financing activities - cash used in:      
Borrowings under Credit Agreement 88,880 232,000  
Payments under Credit Agreement / Term Loan (153,580) $ (298,000)  
Term Loan      
Financing activities - cash used in:      
Payments under Credit Agreement / Term Loan $ (2,438)