| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flow from operating activities: | ||||||
Net income | ||||||
30,914 | 101,107 | 75,673 | 14,780 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Deferred rent | ||||||
473 | - | - | - | |||
Depreciation of property and equipment | ||||||
75 | - | - | - | |||
Gain on sale of assets | ||||||
- | 41,382 | 31,441 | 0 | |||
Unrealized (gain) loss on hedging activities | ||||||
- | -1,151 | 1,040 | -1,040 | |||
Amortization of royalty interests in oil and natural gas properties | ||||||
12,737 | 18,536 | 37,085 | 37,265 | |||
Accretion of asset retirement obligation | ||||||
- | 7 | 34 | 0 | |||
Amortization of debt issuance costs | ||||||
643 | 457 | 95 | 297 | |||
Stock-based compensation | ||||||
2,548 | - | - | - | |||
Deferred income taxes | ||||||
2,421 | 2,285 | 0 | 0 | |||
Cash paid to settle derivatives | ||||||
- | 1,151 | 0 | 0 | |||
Changes in operating assets and liabilities | ||||||
Accounts receivable | ||||||
-3,383 | -1,882 | 2,368 | 735 | |||
Prepaid expenses | ||||||
-342 | 278 | 1,069 | -341 | |||
Other assets | ||||||
-10 | 182 | 0 | 0 | |||
Accounts payable and accrued expenses | ||||||
1,683 | -4,399 | 3,311 | -2,549 | |||
Other liabilities | ||||||
- | -147 | 511 | 840 | |||
Net cash provided by operating activities | ||||||
55,229 | 77,886 | 80,791 | 51,279 | |||
Cash flows from investing activities: | ||||||
Purchase of property and equipment | ||||||
592 | - | - | - | |||
Additions to oil and natural gas properties | ||||||
- | 523 | 3,518 | 5,035 | |||
Decrease in advances to operators | ||||||
- | - | 225 | -225 | |||
Cash acquired in the Transactions | ||||||
- | 2,920 | 0 | 0 | |||
Proceeds from the sale of assets | ||||||
- | 121,130 | 86,341 | 0 | |||
Acquisition of oil and natural gas properties | ||||||
22,761 | 1,215 | 0 | 0 | |||
Net cash provided by (used in) investing activities | ||||||
-23,353 | 122,312 | 83,048 | -5,260 | |||
Cash flows from financing activities: | ||||||
Distributions to partners | ||||||
- | 143,788 | 160,390 | 23,575 | |||
Distribution of subsidiaries | ||||||
- | 7,125 | 0 | 0 | |||
Contributions | ||||||
- | -8 | - | - | |||
Proceeds from long-term debt | ||||||
39,000 | - | - | - | |||
Contributions | ||||||
- | - | 0 | 53 | |||
Repayments of long-term debt | ||||||
17,500 | 44,000 | 1,000 | 52,500 | |||
Deferred financing fees | ||||||
- | - | 0 | 203 | |||
Dividends paid | ||||||
30,293 | 4,356 | 0 | 0 | |||
Distributions to non-controlling interests | ||||||
27,703 | 4,101 | 0 | 0 | |||
Distribution equivalent rights paid | ||||||
154 | - | - | - | |||
Net cash used in financing activities | ||||||
-36,650 | -203,378 | -161,390 | -76,225 | |||
Net increase (decrease) in cash and cash equivalents | ||||||
-4,774 | -3,180 | - | - | |||
Net increase (decrease) in cash and cash equivalents | ||||||
- | - | 2,449 | -30,206 | |||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for interest | ||||||
1,846 | 1,834 | 2,703 | 2,955 | |||
Cash paid for income taxes | ||||||
1,260 | 1,350 | 0 | 0 | |||
Non-cash investing and financing activities: | ||||||
Credit facility prior to the Transactions | ||||||
- | 38,000 | 0 | 0 | |||
Distribution of long-term debt to non-acquired entities prior to the Transactions | ||||||
- | 31,000 | 0 | 0 | |||
Deferred financing fees prior to the Transactions | ||||||
- | 3,214 | 0 | 0 | |||
Deferred tax asset related to the Transactions | ||||||
- | 60,603 | 0 | 0 | |||
Accounts payable related to property and equipment | ||||||
- | - | 72 | 679 | |||