Montage resources corporation (MR)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)

2,828

14,064

4,284

27,512

-14,098

36,488

3,998

-19,034

-2,626

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss)

-

-

-

-

-

-

-

-

-

-

-

11,494

26,847

-

-25,949

-73,163

-45,534

-804,250

-81,468

-41,970

-34,103

-33,023

-19,054

-112,648

-18,451

Adjustments to reconcile net income to net cash provided by (used in) operating activities
Depreciation, depletion, amortization and accretion

44,304

42,221

45,623

38,758

29,950

36,268

34,439

32,922

31,311

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation, depletion and amortization

-

-

-

-

-

-

-

-

-

-

35,588

25,152

26,189

28,661

28,225

20,949

15,113

74,505

67,172

60,641

42,432

37,251

29,983

9,957

12,027

Exploration expense

10,720

11,582

13,987

12,606

9,600

7,497

7,064

6,973

6,790

17,211

5,014

4,204

4,988

1,901

10,230

9,361

9,361

88,731

1,045

4,444

1,629

-

-

-

-

Exploration expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,545

Pension benefit costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-13

-42

-16

127

Stock-based compensation

860

1,170

1,061

552

6,001

1,760

2,171

1,979

1,981

2,444

2,428

2,348

2,081

752

1,763

2,228

1,473

1,241

1,237

1,410

747

169

31

27

29

Impairment of oil and gas properties

6,800

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

17,665

-

-

-

-

-

-

-

-

Net cash for plugging wells

81

600

230

166

48

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of asset retirement obligations

-

-

-

-

-

-

-

-

-

-

143

128

124

116

100

89

86

426

412

399

386

216

198

191

186

Gain on reduction of pension obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,208

(Gain) loss on derivative instruments

40,131

7,976

15,812

29,739

-4,931

2,886

-3,263

-16,577

-4,215

3,980

-1,889

18,177

25,097

-43,931

10,639

-29,596

10,550

24,494

23,679

-3,523

11,371

19,693

5,572

-863

-3,611

Net cash receipts (payments) on settled derivatives

18,236

9,251

11,818

2,440

-3,186

-19,261

-5,377

-2,488

141

2,824

1,585

-2,644

-3,989

2,826

4,612

12,880

18,378

13,320

9,332

8,457

5,965

2,211

584

-790

-1,441

Loss on sale of assets

-490

-133

728

8

-2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on sale of assets

-

-

-

-

-

-

-

-

267

-

13

-6

5

-7,880

-102

1,024

22

-446

-290

5,553

-80

-

-

-

-

(Gain) loss on early extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5,825

8,664

-

-

-

-

-

-

-

-

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

540

-22,034

-18,340

-16,416

-17,691

-

-

-

-

Interest not paid in cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-6,375

7,607

13,555

0

-11,443

13,609

Amortization of deferred financing costs

619

621

959

572

629

579

563

560

554

545

518

533

502

505

485

468

504

510

463

479

539

430

429

479

406

Amortization of debt discount

333

332

333

332

333

332

332

331

332

332

331

331

330

329

342

339

352

357

336

599

594

597

596

593

522

Changes in operating assets and liabilities:
Accounts receivable

-19,238

404

-15,874

-26,370

-25,812

-5,722

13,181

-79

35,499

36,137

-365

6,486

-10,478

19,480

202

12,042

-10,447

-43,335

10,119

19,664

-6,657

-3,582

5,392

10,104

21,691

Other assets

-404

-1,274

-634

-173

188

48

747

938

459

-1,807

252

635

-943

-107

-684

1,385

1,201

174

-844

-47

272

-25

330

-148

1,031

Accounts payable and accrued liabilities

-43,179

7,452

15,413

12,596

-68,643

65,242

10,033

12,135

-3,179

21,748

-9,140

20,788

-14,992

29,453

-20,989

19,787

-27,457

1,559

-14,233

31,141

-1,417

8,247

-5,024

15,018

11,276

Net cash provided by (used in) operating activities

21,490

79,120

93,216

91,998

-8,905

131,692

42,564

47,543

3,294

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

CASH FLOWS FROM INVESTING ACTIVITIES
Accrued liabilities - affiliate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-539

-1,412

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

28,399

-

-11,236

2,258

-19,509

19,581

11,209

47,727

1,782

33,088

-8,480

-16,199

104

Capital expenditures for oil and gas properties

46,894

80,942

91,434

118,804

58,530

64,989

86,567

57,604

66,441

37,426

88,341

100,007

66,005

75,151

49,291

19,001

23,912

65,132

82,671

120,300

207,556

235,063

227,745

118,608

149,597

Capital expenditures for other property and equipment

250

56

383

9

184

115

124

613

155

106

1,364

359

178

312

436

-44

460

421

43

602

682

651

1,532

-89

1,543

Proceeds from sale of assets

1,073

149

1,794

15

1

10

0

6,249

4,099

766

7

520

24

64,314

793

9,294

4,800

-

-

-

-

-

-

-

-

Cash acquired in merger

-

0

0

0

12,894

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in deposits and other long-term assets

-

0

0

50

3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-46,071

-80,849

-90,023

-118,848

-45,822

-65,094

-86,691

-51,968

-62,497

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

CASH FLOWS FROM FINANCING ACTIVITIES
Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-66,159

-

-48,934

-9,663

-19,572

-62,701

-82,714

-83,615

-208,238

-220,254

-229,277

-117,765

-151,140

Debt issuance costs

31

22

881

259

3,102

389

52

8

48

93

361

65

1,231

10

221

-461

200

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,442

135

-

110

310

812

Repayments of long-term debt

41

61

78

84

98

125

200

89

92

255

-24

148

74

109

150

14,534

9,252

159

484,951

116

91

-

-

-

-

Proceeds (repayments) from revolving credit facility

-

-

-

-

-

-

-

-

65,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20,000

Capital contributions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

75,000

49,667

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

440,000

-

-

-

-

Proceeds from revolving credit facility

20,000

2,500

0

30,000

65,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity issuance costs

-

-1

0

1

30

37

137

25

145

-

-

-

-

-

-

-

-

55

108

291

5,476

-

-

-

-

Employee tax withholding for settlement of equity compensation awards

95

164

151

950

5,410

0

121

205

935

0

3

326

1,706

0

0

10

51

-

-

-

-

-

-

-

-

Net cash provided by financing activities

19,833

2,254

-1,110

28,706

56,360

-67,051

38,490

-5,327

63,780

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-4,748

-

-

-

1,633

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-3,011

-

123,783

-14,360

-9,503

-344

41,752

-1,849

434,298

-60

-920

600,056

68,855

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-9,752

4,577

-

-68,280

-63,383

-40,771

23,560

63,613

-21,765

-48,584

-43,464

-29,753

-37,737

227,842

-187,226

-238,677

466,092

-82,181

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest

23,874

8,272

25,396

1,686

24,198

1,821

24,471

1,171

23,638

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

23,066

-

22,926

409

24,766

683

26,045

173

12,907

-

-

-

-

Cash paid for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

221

247

37

0

-

-

-

0

SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES
Asset retirement obligations incurred, including changes in estimate

41

1,892

256

-15,941

16,691

30

180

123

85

114

25

416

124

-

-

-

-

2,940

192

147

156

7,134

318

32

70

Additions of other property through debt financing

-

-

-

-

-

-1

0

0

174

-

-

-

-

-

-

-

-

0

0

0

888

-

-

-

-

Additions to oil and natural gas properties - changes in accounts payable, accrued liabilities, and accrued capital expenditures

5,222

1,142

-25,085

-3,619

45,287

-19,257

-22,269

17,393

8,864

-4,861

15,451

-1,452

13,126

-17,472

25,932

6,352

-6,229

-21,914

-32,333

7,174

-95,592

12,017

35,749

86,705

-7,815

Assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6

-

-

-

9,847

-

-

-

-

Asset acquisition through stock issuance

-

-

-

-

-

0

0

0

90,020

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

BRMR Merger consideration

-

0

0

0

275,759

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid-in-kind

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

14,786

0

0

0

22,461