CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Oct. 11, 2016
Dec. 31, 2016
Oct. 10, 2016
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Oct. 10, 2016
Cash flows from operating activities:                    
Net income (loss) $ (387) $ (8,985)   $ 212,736 $ 83,555          
Adjustments to reconcile net income (loss) to net cash provided by operating activities:                    
Depreciation, depletion and amortization   14,877   326,462 161,628          
Incentive unit compensation   0   0 0          
Stock-based compensation expense   1,333   20,670 13,759          
Non-cash transaction cost   0   0 0          
Impairment and abandonment expense   0   11,136 (29)          
Exploratory dry hole costs   0   528 5,658          
Deferred tax expense (benefit)   0   59,440 29,930          
(Gain) loss on sale of oil and natural gas properties   (24)   (475) (8,796)          
Non-cash portion of derivative (gain) loss   2,602   5,274 (5,805)          
Amortization of debt issuance costs   70   1,749 887          
Changes in operating assets and liabilities:                    
(Increase) decrease in accounts receivable   (983)   (33,001) (43,553)          
Increase in prepaid and other assets   (1,092)   (1,168) (4,088)          
Increase in accounts payable and other liabilities   1,612   66,660 26,772          
Net cash provided by operating activities   9,410   670,011 259,918          
Cash flows from investing activities:                    
Acquisition of oil and natural gas properties   (849,642)   (212,513) (435,547)          
Drilling and development capital expenditures   (24,107)   (998,242) (574,334)          
Purchases of other property and equipment   (801)   (6,058) (4,921)          
Proceeds withdrawn from trust account   500,561   0 0          
Acquisition of Centennial Resource Production, LLC   (1,375,744)   0 0          
Proceeds from sales of oil and natural gas properties   0   148,149 22,496          
Net cash used in investing activities   (1,749,733)   (1,068,664) (992,306)          
Cash flows from financing activities:                    
Issuance of Class A common shares   1,540,556   0 340,750          
Issuance of Preferred Series B Shares   379,494   0 0          
Underwriting discount and offering costs   (27,104)   0 (7,291)          
Payment of deferred underwriting compensation   (17,500)   0 0          
Proceeds from revolving credit facility   0   475,000 275,000          
Repayment of revolving credit facility   0   (175,000) (275,000)          
Proceeds from senior notes   0   0 400,000          
Proceeds from stock options exercised   0   982 877          
Restricted stock used for tax withholdings   0   (1,665) (644)          
Debt issuance costs   (1,115)   (5,157) (9,472)          
Financing obligation   (63)   0 0          
Net cash provided by financing activities   1,874,268   294,160 724,220          
Net increase (decrease) in cash, cash equivalents and restricted cash   133,945   (104,493) (8,168)          
Cash, cash equivalents and restricted cash, beginning of period 138 138   125,915 134,083          
Cash, cash equivalents and restricted cash, end of period   134,083 $ 138 21,422 125,915 $ 134,083        
Supplemental cash flow information                    
Cash paid for interest   234   18,284 4,280          
Supplemental non-cash activity                    
Accrued capital expenditures included in accounts payable and accrued expenses   65,217   119,492 126,480          
Asset retirement obligations incurred, including changes in estimate   186   1,451 4,044          
Restricted Cash and Cash Equivalents [Abstract]                    
Cash and cash equivalents             $ 18,157 $ 117,315 $ 134,083  
Restricted cash [1]             3,265 8,600 0  
Total cash, cash equivalents and restricted cash 138 134,083 138 $ 125,915 $ 134,083 134,083 $ 21,422 $ 125,915 $ 134,083 $ 138
Predecessor                    
Cash flows from operating activities:                    
Net income (loss)     (218,724)              
Adjustments to reconcile net income (loss) to net cash provided by operating activities:                    
Depreciation, depletion and amortization     62,964              
Incentive unit compensation     165,394              
Stock-based compensation expense     0              
Non-cash transaction cost     14,049              
Impairment and abandonment expense     2,545              
Exploratory dry hole costs     0              
Deferred tax expense (benefit)     (406)              
(Gain) loss on sale of oil and natural gas properties     (11)              
Non-cash portion of derivative (gain) loss     23,461              
Amortization of debt issuance costs     376              
Changes in operating assets and liabilities:                    
(Increase) decrease in accounts receivable     969              
Increase in prepaid and other assets     (170)              
Increase in accounts payable and other liabilities     1,293              
Net cash provided by operating activities     51,740              
Cash flows from investing activities:                    
Acquisition of oil and natural gas properties     (55,564)              
Drilling and development capital expenditures     (45,605)              
Purchases of other property and equipment     (265)              
Proceeds withdrawn from trust account     0              
Acquisition of Centennial Resource Production, LLC     0              
Proceeds from sales of oil and natural gas properties     0              
Net cash used in investing activities     (101,434)              
Cash flows from financing activities:                    
Issuance of Class A common shares     0              
Issuance of Preferred Series B Shares     0              
Underwriting discount and offering costs     0              
Payment of deferred underwriting compensation     0              
Proceeds from revolving credit facility     55,000              
Repayment of revolving credit facility     (5,000)              
Proceeds from senior notes     0              
Proceeds from stock options exercised     0              
Restricted stock used for tax withholdings     0              
Debt issuance costs     0              
Financing obligation     (2,074)              
Net cash provided by financing activities     47,926              
Net increase (decrease) in cash, cash equivalents and restricted cash     (1,768)              
Cash, cash equivalents and restricted cash, beginning of period 0 0 1,768     1,768        
Cash, cash equivalents and restricted cash, end of period     0              
Supplemental cash flow information                    
Cash paid for interest     5,092              
Supplemental non-cash activity                    
Accrued capital expenditures included in accounts payable and accrued expenses     21,025              
Asset retirement obligations incurred, including changes in estimate     206              
Restricted Cash and Cash Equivalents [Abstract]                    
Cash and cash equivalents                   0
Restricted cash [1]                   0
Total cash, cash equivalents and restricted cash $ 0 $ 0 $ 1,768     $ 1,768       $ 0
[1] Included in Prepaid and other current assets and Other noncurrent assets line items on the Consolidated Balance Sheets as of December 31, 2018 and 2017, respectively