Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
| Cash flows from operating activities: |
|
|
| Net income (loss) |
$ 33,905
|
|
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
| Depreciation, depletion and amortization |
60,460
|
|
| Equity based compensation expense |
5,595
|
|
| Abandonment expense and impairment of unproved properties |
(29)
|
|
| Deferred tax expense (benefit) |
9,069
|
|
| (Gain) loss on sale of oil and natural gas properties |
(7,357)
|
|
| Non-cash portion of derivative (gain) loss |
(6,412)
|
|
| Amortization of debt issuance costs |
214
|
|
| Changes in operating assets and liabilities: |
|
|
| (Increase) decrease in accounts receivable |
(20,567)
|
|
| Increase in prepaid and other assets |
(172)
|
|
| Increase in accounts payable and other liabilities |
18,434
|
|
| Net cash provided by operating activities |
93,140
|
|
| Cash flows from investing activities: |
|
|
| Acquisition of oil and natural gas properties |
(405,244)
|
|
| Drilling and development capital expenditures |
(198,299)
|
|
| Purchases of other property and equipment |
(2,457)
|
|
| Proceeds from sales of oil and natural gas properties |
10,675
|
|
| Net cash used in investing activities |
(595,325)
|
|
| Cash flows from financing activities: |
|
|
| Issuance of Class A common shares |
340,750
|
|
| Underwriters discount and offering costs |
(7,233)
|
|
| Proceeds from revolving credit facility |
50,000
|
|
| Repayment of revolving credit facility |
(15,000)
|
|
| Financing obligation |
0
|
|
| Debt issuance costs |
(415)
|
|
| Net cash provided by financing activities |
368,102
|
|
| Net decrease in cash and cash equivalents |
(134,083)
|
|
| Cash and cash equivalents, beginning of period |
134,083
|
|
| Cash and cash equivalents, end of period |
0
|
|
| Supplemental cash flow information |
|
|
| Cash paid for interest |
723
|
|
| Supplemental non-cash activity |
|
|
| Accrued capital expenditures included in accounts payable and accrued expenses |
80,651
|
|
| Asset retirement obligations incurred, including changes in estimate |
$ 649
|
|
| Predecessor |
|
|
| Cash flows from operating activities: |
|
|
| Net income (loss) |
|
$ (30,594)
|
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
| Depreciation, depletion and amortization |
|
42,485
|
| Equity based compensation expense |
|
0
|
| Abandonment expense and impairment of unproved properties |
|
897
|
| Deferred tax expense (benefit) |
|
(406)
|
| (Gain) loss on sale of oil and natural gas properties |
|
4
|
| Non-cash portion of derivative (gain) loss |
|
20,596
|
| Amortization of debt issuance costs |
|
244
|
| Changes in operating assets and liabilities: |
|
|
| (Increase) decrease in accounts receivable |
|
1,782
|
| Increase in prepaid and other assets |
|
(632)
|
| Increase in accounts payable and other liabilities |
|
1,228
|
| Net cash provided by operating activities |
|
35,604
|
| Cash flows from investing activities: |
|
|
| Acquisition of oil and natural gas properties |
|
(52,378)
|
| Drilling and development capital expenditures |
|
(33,044)
|
| Purchases of other property and equipment |
|
(33)
|
| Proceeds from sales of oil and natural gas properties |
|
0
|
| Net cash used in investing activities |
|
(85,455)
|
| Cash flows from financing activities: |
|
|
| Issuance of Class A common shares |
|
0
|
| Underwriters discount and offering costs |
|
0
|
| Proceeds from revolving credit facility |
|
55,000
|
| Repayment of revolving credit facility |
|
(5,000)
|
| Financing obligation |
|
(1,233)
|
| Debt issuance costs |
|
0
|
| Net cash provided by financing activities |
|
48,767
|
| Net decrease in cash and cash equivalents |
|
(1,084)
|
| Cash and cash equivalents, beginning of period |
|
1,768
|
| Cash and cash equivalents, end of period |
|
684
|
| Supplemental cash flow information |
|
|
| Cash paid for interest |
|
3,089
|
| Supplemental non-cash activity |
|
|
| Accrued capital expenditures included in accounts payable and accrued expenses |
|
4,574
|
| Asset retirement obligations incurred, including changes in estimate |
|
$ 134
|