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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS — UNAUDITED - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income (loss) $ 191,329 $ (210,860)
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Unrealized loss (gain) on derivatives 86,227 (3,762)
Depletion, depreciation and amortization 166,307 184,057
Accretion of asset retirement obligations 1,011 971
Stock-based compensation expense 2,650 7,080
Deferred income tax provision (benefit) 8,189 (69,866)
Amortization of debt issuance cost 1,655 1,399
Net loss on asset sales and impairment 0 2,632
Changes in operating assets and liabilities    
Accounts receivable (78,900) 46,628
Lease and well equipment inventory (437) (868)
Prepaid expenses and other current assets (4,483) (1,610)
Other long-term assets 91 1,806
Accounts payable, accrued liabilities and other current liabilities 34,345 (52,351)
Royalties payable 16,207 (24,198)
Advances from joint interest owners 2,017 5,094
Other long-term liabilities 1,387 232
Net cash provided by operating activities 427,595 210,385
Investing activities    
Drilling, completion and equipping capital expenditures (210,725) (283,362)
Acquisition of oil and natural gas properties (15,356) (51,736)
Midstream capital expenditures (25,092) (123,338)
Expenditures for other property and equipment (245) (1,381)
Proceeds from sale of assets 296 1,056
Net cash used in investing activities (251,122) (458,761)
Financing activities    
Repayments of borrowings under Credit Agreement (240,000) 0
Borrowings under Credit Agreement 40,000 130,000
Repayments of borrowings under San Mateo Credit Facility (34,000) 0
Borrowings under San Mateo Credit Facility 52,500 32,000
Cost to amend credit facilities (830) (660)
Dividends paid (5,826) 0
Contributions related to formation of San Mateo 31,626 14,700
Contributions from non-controlling interest owners of less-than-wholly-owned subsidiaries 0 67,172
Distributions to non-controlling interest owners of less-than-wholly-owned subsidiaries (28,910) (22,050)
Taxes paid related to net share settlement of stock-based compensation (2,884) (1,493)
Other (324) 7,087
Net cash (used in) provided by financing activities (188,648) 226,756
Decrease in cash and restricted cash (12,175) (21,620)
Cash and restricted cash at beginning of period 91,383 65,128
Cash and restricted cash at end of period $ 79,208 $ 43,508