XML 48 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated statements of cash flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Profit (loss) for the year, net $ 269,535 $ 50,650 $ (102,749)
Items related to operating activities:      
(Reversal of) allowance for expected credit losses (36) 406 (22)
Net changes in foreign exchange rate (33,263) (14,328) (3,068)
Discount for well plugging and abandonment 2,444 2,546 2,584
Net increase in provisions 2,790 1,930 103
Interest expense on lease liabilities 1,925 1,079 1,641
Discount of assets and liabilities at present value 2,561 2,300 3,432
Share-based payments 16,576 10,592 10,494
Employee benefits 502 247 250
Income tax expense (benefit) 163,979 102,114 (10,113)
Items related to investing activities:      
Depreciation and depletion 231,746 187,858 145,106
Amortization of intangible assets 3,116 3,455 2,568
(Reversal) Impairment of long-lived assets 0 (14,044) 14,438
Interest income (809) (65) (822)
Gain from farmout agreement (18,218) (9,050)  
Changes in the fair value of financial assets 17,599 (5,061) 645
Gain from assets disposal 0 (9,999)  
Bargain purchase on business combination 0   (1,383)
Items related to financing activities:      
Interest expense 28,886 50,660 47,923
Changes in the fair value of warrants 30,350 2,182 (16,498)
Amortized cost 2,365 4,164 2,811
Impairment of financial assets 0   4,839
Remeasurement in borrowings 52,817 19,163  
Other financial results 2,515    
Changes in working capital:      
Trade and other receivables (46,272) 7,475 4,149
Inventories 500 905 (3,095)
Trade and other payables 40,183 16,209 2,397
Payments of employee benefits (254) (399) (798)
Salaries and payroll taxes 2,877 3,929 (2,570)
Other taxes and royalties (8,024) (7,311) (2,080)
Provisions (2,265) (1,918) (1,672)
Income tax payment (74,354) (4,296) (4,731)
Net cash flows provided by operating activities 689,771 401,393 93,779
Cash flows from investing activities      
Payments for acquisitions of property, plant and equipment (479,361) (321,286) (153,257)
Payments for the acquisition of AFBN assets (115,000)    
Payments received from farmout agreement 20,000 10,000  
Payments for acquisitions of other intangible assets (6,030) (1,611) (3,664)
Payments for acquisitions of investments in associates (3,466) (2,977)  
Proceeds from disposal of oil and gas properties [1] 0 14,150 0
Cash received by AFBN assets acquisition   6,203  
Interest received 809 65 822
Proceeds from disposal of other financial assets 336   0
Net cash flows (used in) investing activities (582,712) (295,456) (156,099)
Cash flows from financing activities      
Proceeds from borrowings 128,788 358,093 201,728
Payment of borrowings cost (1,670) (3,326) (2,259)
Payment of borrowings principal (195,091) (284,695) (98,761)
Payment of borrowings interest (34,430) (54,636) (43,756)
Payments of lease (11,494) (8,911) (9,067)
Share repurchase (29,304)    
Payment of other financial liabilities, net of restricted cash and cash equivalents 0 0 (16,993)
Net cash flows (used in) provided by financing activities (143,201) 6,525 30,892
Net (decrease) increase in cash and cash equivalents (36,142) 112,462 (31,428)
Cash and cash equivalents at beginning of year 311,217 201,314 234,230
Effect of exposure to changes in the foreign currency rate of cash and cash equivalents (33,119) (2,559) (1,488)
Net (decrease) / increase in cash and cash equivalents (36,142) 112,462 (31,428)
Cash and cash equivalents at end of year 241,956 311,217 201,314
Significant transactions that generated no cash flows      
Acquisition of property, plant and equipment through increase in trade and other payables 138,543 80,321 82,298
Changes in well plugging and abandonment with an impact in property, plant and equipment (713) 2,112 $ (366)
Acquisition of AFBN assets   69,693  
Acquisition of Mexico's exploration assets   6,174  
Disposal of Mexico's exploration assets $ 0 $ (5,126)  
[1] Including 15,000 received for the transfer of working interests in Coirón Amargo Sur Oeste (“CASO”) concession (see Note 29.3.4) net of 850 from payments related to the transfer of Mexico’s exploration assets (see Note 29.3.11).