| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income (loss) | ||||||
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 benefit | ||||||
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 | ||||
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 | ||||
Debt issuance costs | ||||||
7,200 | 5,157 | 9,472 | ||||
Proceeds from exercise of stock options | ||||||
0 | 982 | 877 | ||||
Restricted stock used for tax withholdings | ||||||
1,038 | 1,665 | 644 | ||||
Net cash provided by financing activities | ||||||
362,937 | 294,160 | 724,220 | ||||
Net decrease in cash and cash equivalents and restricted cash | ||||||
-5,879 | -104,493 | -8,168 | ||||
Supplemental cash flow information | ||||||
Cash paid for interest | ||||||
48,905 | 18,284 | 4,280 | ||||
Cash used in operating activities | ||||||
16,774 | 0 | 0 | ||||
Cash used in investing activities | ||||||
20,905 | 0 | 0 | ||||
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 | ||||
Right-of-use assets recognized (derecognized) with offsetting operating lease liabilities | ||||||
34,833 | 0 | 0 | ||||