CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
| Operating Lease, Payments |
$ 16,774
|
$ 0
|
$ 0
|
| Operating Lease, Payments, Use |
20,905
|
0
|
0
|
| Cash flows from operating activities: |
|
|
|
| Net income |
16,414
|
212,736
|
83,555
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation, depletion and amortization |
444,243
|
326,462
|
161,628
|
| Stock-based compensation expense |
28,997
|
20,670
|
13,759
|
| Impairment and abandonment expense |
47,245
|
11,136
|
(29)
|
| Exploratory dry hole costs |
0
|
528
|
5,658
|
| Deferred tax expense |
5,797
|
59,440
|
29,930
|
| Net (gain) loss on sale of long-lived assets |
857
|
(475)
|
(8,796)
|
| Non-cash portion of derivative (gain) loss |
(4,094)
|
5,274
|
(5,805)
|
| Amortization of debt issuance costs and discount |
2,861
|
1,749
|
887
|
| Changes in operating assets and liabilities: |
|
|
|
| (Increase) decrease in accounts receivable |
(10,098)
|
(33,001)
|
(43,553)
|
| (Increase) decrease in prepaid and other assets |
(1,882)
|
(1,168)
|
(4,088)
|
| Increase (decrease) in accounts payable and other liabilities |
33,833
|
66,660
|
26,772
|
| Net cash provided by operating activities |
564,173
|
670,011
|
259,918
|
| Cash flows from investing activities: |
|
|
|
| Acquisition of oil and natural gas properties |
(103,709)
|
(212,513)
|
(435,547)
|
| Drilling and development capital expenditures |
(855,153)
|
(998,242)
|
(574,334)
|
| Purchases of other property and equipment |
(8,857)
|
(6,058)
|
(4,921)
|
| Proceeds from sales of oil and natural gas properties |
34,730
|
148,149
|
22,496
|
| Net cash used in investing activities |
(932,989)
|
(1,068,664)
|
(992,306)
|
| Cash flows from financing activities: |
|
|
|
| Issuance of Class A common stock |
0
|
0
|
340,750
|
| Underwriting discount and offering costs |
0
|
0
|
(7,291)
|
| Proceeds from borrowings under revolving credit facility |
595,000
|
475,000
|
275,000
|
| Repayment of borrowings under revolving credit facility |
(720,000)
|
(175,000)
|
(275,000)
|
| Proceeds from issuance of Senior Notes |
496,175
|
0
|
400,000
|
| Proceeds from exercise of stock options |
0
|
982
|
877
|
| Restricted stock used for tax withholdings |
(1,038)
|
(1,665)
|
(644)
|
| Debt issuance costs |
(7,200)
|
(5,157)
|
(9,472)
|
| Net cash provided by financing activities |
362,937
|
294,160
|
724,220
|
| Net increase (decrease) in cash, cash equivalents and restricted cash |
(5,879)
|
(104,493)
|
(8,168)
|
| Cash, cash equivalents and restricted cash, beginning of period |
21,422
|
125,915
|
134,083
|
| Cash, cash equivalents and restricted cash, end of period |
15,543
|
21,422
|
125,915
|
| Supplemental cash flow information |
|
|
|
| Cash paid for interest |
48,905
|
18,284
|
4,280
|
| Supplemental non-cash activity |
|
|
|
| Accrued capital expenditures included in accounts payable and accrued expenses |
97,090
|
119,492
|
126,480
|
| Asset retirement obligations incurred, including revisions to estimates |
2,262
|
1,451
|
4,044
|
| Restricted Cash and Cash Equivalents [Abstract] |
|
|
|
| Total cash, cash equivalents and restricted cash |
15,543
|
21,422
|
134,083
|
| Right-of-Use Asset Obtained in Exchange for Operating Lease Liability |
$ 34,833
|
$ 0
|
$ 0
|