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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2020
Nov. 19, 2020
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:        
Net income (loss) including non-controlling interests $ (45,962) $ (3,724,611) $ 1,858,470 $ 355,298
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by operating activities:        
Depreciation, depletion and amortization 16,094 291,115 369,659 158,304
Gain on extinguishment of debt 0 (83,867) 0 0
Gain on sale of assets (11) (10,396) (523,767) (222,806)
Impairment 0 4,937,143 (344) 5
Deferred income taxes (3,447) (262,926) 28,341 (977)
Net gain from investment in unconsolidated affiliate 0 0 (34,366) 0
Net (gain) loss on derivative instruments 84,615 (233,565) 208,128 589,641
Equity-based compensation expenses 270 31,315 61,269 15,476
Non-cash reorganization items, net 0 (809,036) 0 0
Deferred financing costs amortization and other 6,824 41,811 3,194 12,992
Working capital and other changes:        
Change in accounts receivable, net 68,322 96,436 84,041 (184,605)
Change in inventory 1,902 (4,005) 8,756 2,168
Change in prepaid expenses (2,976) 1,674 3,423 5,605
Change in accounts payable, interest payable and accrued liabilities (24,573) (62,694) (131,687) 184,517
Change in other assets and liabilities, net (5,803) (5,458) (11,091) (1,482)
Net cash provided by operating activities 95,255 202,936 1,924,026 914,136
Cash flows from investing activities:        
Capital expenditures (9,805) (332,007) (531,327) (212,820)
Acquisitions, net of cash acquired 0 0 (148,144) (590,097)
Proceeds from divestitures, net of cash divested 0 15,188 169,198 376,081
Costs related to divestitures 0 0 (11,368) (2,926)
Derivative settlements (76) 224,416 (633,025) (270,118)
Derivative modifications 0 0 0 (220,889)
Proceeds from sale of investment in unconsolidated affiliate 0 0 428,231 0
Distributions from investment in unconsolidated affiliate 0 0 43,873 0
Net cash used in investing activities (9,881) (92,403) (682,562) (920,769)
Cash flows from financing activities:        
Proceeds from revolving credit facilities 29,000 686,189 1,035,000 399,500
Principal payments on revolving credit facilities (114,500) (686,189) (1,020,000) (906,500)
Repurchase of senior unsecured notes 0 (68,060) 0 0
Proceeds from issuance of senior unsecured notes 0 0 0 850,000
Cash paid to settle Whiting debt 0 0 (2,154) 0
Deferred financing costs 0 (7,260) (5,997) (22,251)
Debtor-in-possession credit facility fees 0 (5,853) 0 0
Proceeds from issuance of OMP common units, net of offering costs 0 0 0 86,467
Common control transaction costs 0 0 0 (5,675)
Purchases of treasury stock 0 0 (151,950) (100,000)
Tax withholding on vesting of equity-based awards 0 (2,756) (41,752) 0
Dividends paid 0 0 (654,728) (111,905)
Distributions to non-controlling interests 0 (24,080) 0 (28,720)
Payments on finance lease liabilities (202) (1,989) (1,299) (1,161)
Proceeds from warrants exercised 0 0 19,784 1,435
Net cash provided by (used in) financing activities (85,702) (109,998) (823,096) 161,190
Increase (decrease) in cash, cash equivalents and restricted cash (328) 535 418,368 154,557
Cash, cash equivalents and restricted cash:        
Beginning of period 20,554 20,019 174,783 20,226
End of period 20,226 20,554 593,151 174,783
Supplemental cash flow information:        
Cash paid for interest, net of capitalized interest 2,411 152,416 24,266 41,603
Cash paid for income taxes 1 109 10,000 20,000
Cash received for income tax refunds 28 282 0 0
Cash paid for reorganization items 0 22,205 0 0
Supplemental non-cash transactions:        
Change in accrued capital expenditures 7,938 (107,725) (21,668) 8,304
Change in asset retirement obligations 377 (10,268) 852 14,724
Non-cash consideration exchanged in Merger 0 0 2,585,211 0
Investment in unconsolidated affiliate 0 0 568,312 0
Note receivable from divestiture 0 0 0 2,900
Contingent consideration from Permian Basin Sale 0 0 0 32,860
Dividends payable $ 0 $ 0 $ 30,630 $ 4,946