CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - Centennial Resource Production, LLC (Centennial OpCo) and Celero Energy Company, L.P. - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Cash flows from operating activities |
|
|
|
| Net (loss) income |
$ (38,325)
|
$ 17,788
|
$ 3,612
|
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
| Accretion of asset retirement obligations |
139
|
156
|
358
|
| Depreciation, depletion, amortization |
89,945
|
68,954
|
28,927
|
| Non cash incentive compensation expense |
|
12,420
|
|
| Abandonment expense and impairment of unproved properties |
7,619
|
20,025
|
8,524
|
| Write-off of deferred S-1 related expense |
1,585
|
|
|
| Deferred tax (benefit) expense |
(572)
|
1,524
|
1,079
|
| (Gain) loss on sale of oil and natural gas properties |
(2,439)
|
2,096
|
(16,756)
|
| (Gain) loss on derivative instruments |
(20,756)
|
(41,943)
|
4,410
|
| Net cash received for derivative settlements |
35,493
|
4,611
|
(12,651)
|
| Payment of derivative contract premiums |
|
|
(994)
|
| Recovery of bad debt |
|
(777)
|
1,128
|
| Amortization of debt issuance costs |
482
|
316
|
210
|
| Change in operating assets and liabilities: |
|
|
|
| Decrease (increase) in accounts receivable |
5,244
|
(6,322)
|
(1,016)
|
| Increase in prepaid and other assets |
(864)
|
(79)
|
(2,054)
|
| (Decrease) increase in accounts payable and other liabilities |
(8,669)
|
18,479
|
(1,361)
|
| Net cash provided by operating activities |
68,882
|
97,248
|
13,416
|
| Cash flows form investing activities |
|
|
|
| Acquisition of oil and natural gas properties |
(43,223)
|
(22,167)
|
(27,412)
|
| Development of oil and natural gas properties |
(156,006)
|
(275,683)
|
(146,463)
|
| Purchase of other property and equipment |
(2,097)
|
(453)
|
(543)
|
| Proceeds from sales of oil and natural gas properties |
2,691
|
72,382
|
46,316
|
| Development of assets held for sale |
|
(14,240)
|
(37,915)
|
| Proceeds from sale of Atlantic Midstream, net of cash sold |
|
71,781
|
|
| Change in cash held in escrow |
|
5,000
|
29,500
|
| Net cash used by investing activities |
(198,635)
|
(163,380)
|
(136,517)
|
| Cash flows from financing activities |
|
|
|
| Proceeds from revolving credit facility |
92,000
|
196,000
|
57,000
|
| Repayment of revolving credit facility |
(83,000)
|
(160,000)
|
(28,000)
|
| Financing obligation |
(1,633)
|
|
|
| Capital contributions |
111,396
|
59,776
|
114,859
|
| Debt issuance costs |
(259)
|
(1,637)
|
(471)
|
| Repurchase of equity |
|
(119,272)
|
(21,102)
|
| Capital distribution |
|
|
(4,238)
|
| Proceeds from term loan |
|
65,000
|
|
| Distribution in connection with common control acquisition |
|
(3,051)
|
|
| Contributions received from noncontrolling interest |
|
150
|
694
|
| Net cash provided by the financing activities |
118,504
|
36,966
|
118,742
|
| Net decrease in the cash and cash equivalents |
(11,249)
|
(29,166)
|
(4,359)
|
| Cash and cash equivalents, beginning of period |
13,017
|
42,183
|
46,542
|
| Cash and cash equivalents, end of period |
1,768
|
13,017
|
42,183
|
| Supplemental cash flow information |
|
|
|
| Cash paid for interest |
5,782
|
1,935
|
232
|
| Supplemental noncash activity |
|
|
|
| Accrued capital expenditures included in accounts payable and accrued expenses |
13,124
|
$ 81,510
|
5,099
|
| Owners' promissory note receivable |
|
|
$ 3,399
|
| Financing obligation |
$ 3,770
|
|
|