Consolidated and Combined Statements of Cash Flows - USD ($) $ in Thousands |
3 Months Ended |
9 Months Ended |
12 Months Ended |
Dec. 31, 2016 |
Oct. 10, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Successor |
|
|
|
|
| Net (loss) income |
$ (8,985)
|
|
|
|
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
|
| Accretion of asset retirement obligations |
49
|
|
|
|
| Depreciation, depletion and amortization |
14,828
|
|
|
|
| Equity based compensation expense |
1,333
|
|
|
|
| Incentive unit compensation |
0
|
|
|
|
| Noncash transaction costs |
0
|
|
|
|
| Abandonment expense and impairment of unproved properties |
0
|
|
|
|
| Write-off of deferred S-1 related expense |
0
|
|
|
|
| Deferred tax (benefit) expense |
0
|
|
|
|
| (Gain) loss on sale of oil and natural gas properties |
(24)
|
|
|
|
| Loss (gain) on derivative instruments |
1,548
|
|
|
|
| Net cash received for derivative settlements |
1,054
|
|
|
|
| Recovery of bad debt |
0
|
|
|
|
| Amortization of debt issuance costs |
70
|
|
|
|
| Changes in operating assets and liabilities: |
|
|
|
|
| Decrease (increase) in accounts receivable |
(983)
|
|
|
|
| Increase in prepaid and other assets |
(1,092)
|
|
|
|
| Increase (decrease) in accounts payable and other liabilities |
1,612
|
|
|
|
| Net cash provided by operating activities |
9,410
|
|
|
|
| Cash flows from investing activities: |
|
|
|
|
| Proceeds withdrawn from trust account |
500,561
|
|
|
|
| Acquisition of Centennial Resource Production, LLC |
(1,375,744)
|
|
|
|
| Acquisition of oil and natural gas properties |
(849,642)
|
|
|
|
| Development of oil and natural gas properties |
(24,107)
|
|
|
|
| Purchases of other property and equipment |
(801)
|
|
|
|
| Development of assets held for sale |
0
|
|
|
|
| Proceeds from sales of oil and natural gas properties and other assets |
0
|
|
|
|
| Proceeds from sale of Atlantic Midstream, net of cash sold |
0
|
|
|
|
| Cash held in escrow |
0
|
|
|
|
| Net cash used by investing activities |
(1,749,733)
|
|
|
|
| Cash flows from financing activities: |
|
|
|
|
| Issuance of Class A common shares |
1,540,556
|
|
|
|
| Issuance of Preferred Series B shares |
379,494
|
|
|
|
| Payment of underwriting fees |
(27,104)
|
|
|
|
| Payment of deferred underwriting compensation |
(17,500)
|
|
|
|
| Proceeds from revolving credit facility |
0
|
|
|
|
| Repayment of revolving credit facility |
0
|
|
|
|
| Capital contributions |
0
|
|
|
|
| Financing obligation |
(63)
|
|
|
|
| Debt issuance costs |
(1,115)
|
|
|
|
| Repurchase of equity |
0
|
|
|
|
| Proceeds from term loan |
0
|
|
|
|
| Distribution in connection with common control acquisition |
0
|
|
|
|
| Contributions received from noncontrolling interest |
0
|
|
|
|
| Net cash provided by financing activities |
1,874,268
|
|
|
|
| Net increase (decrease) in cash and cash equivalents |
133,945
|
|
|
|
| Cash and cash equivalents, beginning of period |
138
|
|
|
|
| Cash and cash equivalents, end of period |
134,083
|
$ 138
|
|
|
| Supplemental cash flow information |
|
|
|
|
| Cash paid for interest |
234
|
|
|
|
| Supplemental noncash activity |
|
|
|
|
| Accrued capital expenditures included in accounts payable and accrued expenses |
65,217
|
|
|
|
| Financing obligation |
0
|
|
|
|
| Predecessor |
|
|
|
|
| Net (loss) income |
|
(218,724)
|
$ (38,325)
|
$ 17,788
|
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
|
| Accretion of asset retirement obligations |
|
134
|
139
|
156
|
| Depreciation, depletion and amortization |
|
62,830
|
89,945
|
68,954
|
| Equity based compensation expense |
|
0
|
0
|
12,420
|
| Incentive unit compensation |
|
165,394
|
0
|
0
|
| Noncash transaction costs |
|
14,049
|
0
|
0
|
| Abandonment expense and impairment of unproved properties |
|
2,545
|
7,619
|
20,025
|
| Write-off of deferred S-1 related expense |
|
0
|
1,585
|
0
|
| Deferred tax (benefit) expense |
|
(406)
|
(572)
|
1,524
|
| (Gain) loss on sale of oil and natural gas properties |
|
(11)
|
(2,439)
|
2,096
|
| Loss (gain) on derivative instruments |
|
6,838
|
(20,756)
|
(41,943)
|
| Net cash received for derivative settlements |
|
16,623
|
35,493
|
4,611
|
| Recovery of bad debt |
|
0
|
0
|
(777)
|
| Amortization of debt issuance costs |
|
376
|
482
|
316
|
| Changes in operating assets and liabilities: |
|
|
|
|
| Decrease (increase) in accounts receivable |
|
969
|
5,244
|
(6,322)
|
| Increase in prepaid and other assets |
|
(170)
|
(864)
|
(79)
|
| Increase (decrease) in accounts payable and other liabilities |
|
1,293
|
(8,669)
|
18,479
|
| Net cash provided by operating activities |
|
51,740
|
68,882
|
97,248
|
| Cash flows from investing activities: |
|
|
|
|
| Proceeds withdrawn from trust account |
|
0
|
0
|
0
|
| Acquisition of Centennial Resource Production, LLC |
|
0
|
0
|
0
|
| Acquisition of oil and natural gas properties |
|
(55,564)
|
(43,223)
|
(22,167)
|
| Development of oil and natural gas properties |
|
(45,605)
|
(156,006)
|
(275,683)
|
| Purchases of other property and equipment |
|
(265)
|
(2,097)
|
(453)
|
| Development of assets held for sale |
|
0
|
0
|
(14,240)
|
| Proceeds from sales of oil and natural gas properties and other assets |
|
0
|
2,691
|
72,382
|
| Proceeds from sale of Atlantic Midstream, net of cash sold |
|
0
|
0
|
71,781
|
| Cash held in escrow |
|
0
|
0
|
5,000
|
| Net cash used by investing activities |
|
(101,434)
|
(198,635)
|
(163,380)
|
| Cash flows from financing activities: |
|
|
|
|
| Issuance of Class A common shares |
|
0
|
0
|
0
|
| Issuance of Preferred Series B shares |
|
0
|
0
|
0
|
| Payment of underwriting fees |
|
0
|
0
|
0
|
| Payment of deferred underwriting compensation |
|
0
|
0
|
0
|
| Proceeds from revolving credit facility |
|
55,000
|
92,000
|
196,000
|
| Repayment of revolving credit facility |
|
(5,000)
|
(83,000)
|
(160,000)
|
| Capital contributions |
|
0
|
111,396
|
59,776
|
| Financing obligation |
|
(2,074)
|
(1,633)
|
0
|
| Debt issuance costs |
|
0
|
(259)
|
(1,637)
|
| Repurchase of equity |
|
0
|
0
|
(119,272)
|
| Proceeds from term loan |
|
0
|
0
|
65,000
|
| Distribution in connection with common control acquisition |
|
0
|
0
|
(3,051)
|
| Contributions received from noncontrolling interest |
|
0
|
0
|
150
|
| Net cash provided by financing activities |
|
47,926
|
118,504
|
36,966
|
| Net increase (decrease) in cash and cash equivalents |
|
(1,768)
|
(11,249)
|
(29,166)
|
| Cash and cash equivalents, beginning of period |
$ 0
|
1,768
|
13,017
|
42,183
|
| Cash and cash equivalents, end of period |
|
0
|
1,768
|
13,017
|
| Supplemental cash flow information |
|
|
|
|
| Cash paid for interest |
|
5,092
|
5,782
|
1,935
|
| Supplemental noncash activity |
|
|
|
|
| Accrued capital expenditures included in accounts payable and accrued expenses |
|
21,025
|
13,124
|
81,510
|
| Financing obligation |
|
$ 0
|
$ 3,770
|
$ 0
|