XML 48 R6.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 42,028 $ 13,575
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred and non-current income taxes 11,330 4,352
Exploration 27  
Gain on sale of oil and gas properties   (1)
Depreciation, depletion and amortization 110,425 37,590
Loss (gain) on derivative financial instruments (61,899) 7,657
Cash settlements of derivative financial instruments 45,416 5,388
Amortization of debt discount, premium and issuance costs 7,199 1,574
Stock-based compensation 1,430 648
Decrease in accounts receivable 54,297 10,783
Decrease (increase) in other current assets (3,828) 1,577
Decrease in accounts payable and accrued expenses (56,306) (8,428)
Net cash provided by operating activities 150,119 74,715
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (143,490) (94,939)
Advance payments for drilling costs   6,030
Proceeds from sales of oil and gas properties   415
Net cash used for investing activities (143,490) (88,494)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings 57,000 45,000
Payments to retire debt (57,000) (25,000)
Preferred stock dividends paid (9,572)  
Debt and equity issuance costs (47) (90)
Income tax withholdings related to equity awards (15)  
Net cash provided by (used for) financing activities (9,634) 19,910
Net increase (decrease) in cash and cash equivalents (3,005) 6,131
Cash and cash equivalents, beginning of the year 18,532 23,193
Cash and cash equivalents, end of the year $ 15,527 $ 29,324