XML 17 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
2 Months Ended 4 Months Ended 6 Months Ended
Feb. 28, 2017
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:      
Net income (loss)   $ (266,074)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization   49,000  
Write-down of oil and gas properties   256,435  
Accretion expense   11,603  
Deferred income tax provision   0  
Gain on sale of oil and gas properties   (27)  
Settlement of asset retirement obligations   (32,836)  
Non-cash stock compensation expense   391  
Non-cash derivative (income) expense   (6,669)  
Non-cash interest expense   0  
Non-cash reorganization items   0  
Other non-cash expense   821  
Change in current income taxes   (3,578)  
Decrease in accounts receivable   8,131  
(Increase) decrease in other current assets   3,049  
Decrease in accounts payable   (876)  
Increase (decrease) in other current liabilities   7,321  
Investment in derivative contracts   (2,416)  
Other   3,632  
Net cash provided by (used in) operating activities   27,907  
Cash flows from investing activities:      
Investment in oil and gas properties   (25,492)  
Proceeds from sale of oil and gas properties, net of expenses   15,929  
Investment in fixed and other assets   (83)  
Change in restricted funds   26,906  
Net cash provided by (used in) investing activities   17,260  
Cash flows from financing activities:      
Proceeds from bank borrowings   0  
Repayments of bank borrowings   0  
Repayments of building loan   (135)  
Cash payment to noteholders   0  
Debt issuance costs   0  
Net payments for share-based compensation   (19)  
Net cash provided by (used in) financing activities   (154)  
Effect of exchange rate changes on cash   0  
Net change in cash and cash equivalents   45,013  
Cash and cash equivalents, beginning of period   162,966  
Cash and cash equivalents, end of period $ 162,966 207,979  
Predecessor      
Cash flows from operating activities:      
Net income (loss) 630,317   $ (384,545)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization 37,429   107,789
Write-down of oil and gas properties 0   247,853
Accretion expense 5,447   20,065
Deferred income tax provision 0   9,059
Gain on sale of oil and gas properties (213,453)   0
Settlement of asset retirement obligations (3,641)   (10,706)
Non-cash stock compensation expense 2,645   4,682
Non-cash derivative (income) expense 1,778   1,025
Non-cash interest expense 0   9,403
Non-cash reorganization items (458,677)   0
Other non-cash expense 172   6,081
Change in current income taxes 3,570   (3,187)
Decrease in accounts receivable 6,354   9,755
(Increase) decrease in other current assets (2,274)   (5,283)
Decrease in accounts payable (4,652)   (321)
Increase (decrease) in other current liabilities (9,653)   (5,920)
Investment in derivative contracts (3,736)   0
Other 2,490   (7,880)
Net cash provided by (used in) operating activities (5,884)   (2,130)
Cash flows from investing activities:      
Investment in oil and gas properties (8,754)   (179,311)
Proceeds from sale of oil and gas properties, net of expenses 505,383   0
Investment in fixed and other assets (61)   (898)
Change in restricted funds (75,547)   1,045
Net cash provided by (used in) investing activities 421,021   (179,164)
Cash flows from financing activities:      
Proceeds from bank borrowings 0   477,000
Repayments of bank borrowings (341,500)   (135,500)
Repayments of building loan (24)   (189)
Cash payment to noteholders (100,000)   0
Debt issuance costs 1,055   900
Net payments for share-based compensation (173)   (673)
Net cash provided by (used in) financing activities (442,752)   339,738
Effect of exchange rate changes on cash 0   (9)
Net change in cash and cash equivalents (27,615)   158,435
Cash and cash equivalents, beginning of period 190,581 $ 162,966 10,759
Cash and cash equivalents, end of period $ 162,966   $ 169,194