Ultra petroleum corp. (UPL)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08Dec'07
Operating activities:
Net income for the period

107,988

85,207

177,140

56,151

-

-

-

-

-

-

-

-

-

Net income (loss)

-

-

-

-

-3,207,220

542,851

237,838

-2,176,898

453,202

464,459

-451,053

414,275

263,036

Adjustments to reconcile net income to cash provided by operating activities:
Income from discontinued operations (including pre-tax gain on sale in 2007 of $98,066)

-

-

-

-

-

-

-

-

-

-

-

-

-82,794

Depletion, depreciation and amortization

204,227

204,255

161,945

125,121

401,200

292,951

243,390

388,985

346,394

241,796

201,826

184,795

135,470

Ceiling test and other impairments

-

-

-

-

3,144,899

0

0

2,972,464

0

0

-

-

-

Write-down of proved oil and gas properties

-

-

-

-

-

-

-

-

-

-

1,037,000

0

0

Deferred and current non-cash income taxes

-

-

-

-

-990

995

-6

-712,576

251,206

253,926

-253,966

235,031

127,802

Unrealized (gain) loss on commodity derivatives

54,282

-59,799

16,966

-

-104,190

130,066

-25,876

-230,385

100,383

208,625

-92,849

14,225

0

Deferred gain on sale of liquids gathering system

-

-

-

-

-

10,553

-10,553

0

0

-

-

-

-

Gain on sale of property

-

-

-

-

-

8,022

0

0

-

-

-

-

-

Excess tax benefit from stock based compensation

-

-

-

-

-

-

0

-4,427

6,212

17,522

14,213

78,840

36,692

Deferred gain on sale of liquids gathering system

-

10,553

10,553

10,553

10,553

-

-

-

-

-

-

-

-

Stock compensation

2,571

11,825

39,977

5,562

4,128

5,467

9,767

10,756

13,919

12,944

10,901

5,816

5,718

Payable-in-kind (“PIK”) interest payable

12,867

377

-

-

-

-

-

-

-

-

-

-

-

Non-cash reorganization items, net

-

-

-

-

-

0

-

-

-

-

-

-

-

Non-cash reorganization items, net

-

-

-453,909

42,523

-

-

-

-

-

-

-

-

-

Amortization of premium on restructuring

-41,774

-1,083

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs

12,966

11,210

7,483

4,194

5,190

-

-

-

-

-

-

-

-

Inventory write-down

7,461

-

-

-

-

-

-

-

-

-

-

-

-

Other

-3,153

-3,501

1,047

-2,676

-4,027

-4,569

2,252

3,667

1,495

734

1,023

-

-

Net changes in operating assets and liabilities:
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities, Other

-

-

-

-

-

-

-

-

-

-

-

11

177

Restricted cash

-

-

-

-

-

-2

-2

0

23

-1,583

-1,046

137

1,923

Accounts receivable

-62,452

46,276

14,483

19,635

-65,132

43,116

-16,565

-62,758

26,910

31,966

-14,974

-9,139

48,044

Other current assets

-

-

-

-

-

-

-

-

-

-

-2,913

0

-

Other current assets

-

-

-

-

-

-

-

-

-

-

-

-

0

Other current assets

-

-

-

-

20,106

1,920

-1,180

-1,740

4,993

229

-4,268

5,543

273

Other current and non-current assets

-3,139

-5,630

-14,615

16,186

-

-284

-277

-284

0

1,176

2,905

0

0

Accounts payable

-

-

-

-

-

28,696

-1,400

-37,964

-15,567

91,982

-38,079

86,487

58,019

Accrued liabilities

-

-

-

-

-

-5,938

-32,904

-77,633

101,646

-

-

-

-

Other non-current assets

-

-

-

-

-21,112

-

-

-

-

-

-

-

-

Accounts payable

-8,195

-13,206

34,349

-63,924

13,815

-

-

-

-

-

-

-

-

Accrued liabilities

-15,751

-20,294

89,935

133,144

1,655

-

-

-

-

-

-

-

-

Production taxes payable

-4,937

7,098

7,023

-7,944

-3,312

15,115

-7,207

-14,372

8,735

-7,439

-596

-

-

Interest payable

1,251

3,889

36,220

57,117

-3,441

14,233

1,772

-213

3,428

14,867

-

-

-

Other long-term obligations

3,730

2,674

4,737

276

-

6,427

-

-

-

-

-

-

-

Interest payable

-

-

-

-

-

-

-

-

-

-

5,902

-

-

Other long-term obligations

-

-

-

-

-

-

3,296

-9,031

433

6,035

-13,638

14,833

413

Other long-term obligations

-

-

-

-

-5,770

-

-

-

-

-

-

-

-

Current taxes payable/receivable

-

-

-

-

-

609

-17,507

8,046

6,922

3,359

215

-10,839

8,632

Current taxes payable/receivable

5,550

6,844

-11,198

2,548

1,580

-

-

-

-

-

-

-

-

Net cash provided by operating activities

-

-

-

-

515,536

712,584

-

-

-

-

-

-

429,541

Net cash provided by operating activities from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-1,592

Net cash provided by operating activities

302,416

310,897

65,268

311,070

-

-

472,638

654,825

1,033,292

824,728

592,641

840,803

427,949

Investing Activities:
Acquisition of oil and gas properties

-

-

-

-

-

891,075

649,801

0

0

-

-

-

-

Acquisition Costs

-

-

-

-

-

-

-

-

-

-403,806

-

-

-

Acquisition of oil and gas properties

-

-

-

-

-

-

-

-

-

-

0

0

-

Oil and gas property expenditures

241,134

426,166

557,029

269,314

494,025

599,913

370,662

708,017

1,435,611

1,164,389

673,518

949,650

696,124

Sale of oil and gas properties

-

61,304

114,263

-

-

-

-

-

-

-

-

-

-

Change in capital cost accrual and accounts payable

28,516

27,322

-20,076

8,134

-

-

-

-

-

-

-

-

-

Inventory

-

-

-

1,123

-

-

-

-

-

-

-

-

-

Proceeds from sale of property, plant and equipment

9

2,872

-

-

-

-

-

-

-

-

-

-

-

Gathering system expenditures

-

-

-

-

-

6,842

5,510

127,149

83,996

76,703

67,833

0

0

Proceeds from sale of property

-

-

-

-

-

27,944

0

0

5,821

-

-

-

-

Proceeds from sale of liquids gathering system

-

-

-

-

-

-

-129

203,046

-

-

-

-

-

Restricted Cash Non Current

-

-

-

-

-

-

-

-

-

-28,257

28,257

0

0

Investing activities from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-14,450

Proceeds on sale of subsidiary, net of transaction costs

-

-

-

-

-

-

-

-

-

68,420

0

0

208,032

Proceeds from sale of liquids gathering system

-

-

-

-

-

-

-

-

0

0

-

-

-

Proceeds from sale of marketable securities

-

-

-

-

-

-

0

21,235

0

0

-

-

-

Change in capital cost accrual

-

-

-

-

25,380

125,577

65,975

-38,338

-125,261

-19,826

56,327

-32,097

6,422

Inventory

-

-

-

-

-3,235

-

-

-

-

-

-

-

-

Inventory

-

-

-

-

-

175

-627

-374

1,595

1,738

4,024

4,811

5,596

Purchase of property, plant and equipment

-

-

-

-

-

5,455

815

4,302

21,865

2,442

-1,300

-

-

Purchase of capital assets

-

-

-

-

-3,964

-

-

-

-

-

-

-

-

Purchase of property, plant and equipment

511

12,398

12,621

329

551

-

-

-

-

-

-

-

-

Net cash used in investing activities

-

-

-

-

-512,757

-1,600,743

-

-

-

-

-

-

-

Purchase of capital assets

-

-

-

-

-

-

-

-

-

-

-

2,577

3,702

Net cash used in investing activities

-270,152

-401,710

-435,311

-278,900

-

-

-1,093,519

-577,223

-1,408,795

-1,529,099

-820,611

-915,319

-507,070

Financing activities:
Borrowings under Credit Agreement

-

-

-

-

-

1,095,000

1,006,000

852,000

1,257,000

1,000,000

817,000

662,000

396,000

Payments under Credit Agreement / Term Loan

7,313

-

-

-

-

1,037,000

823,000

918,000

914,000

1,260,000

827,000

682,000

271,000

Extinguishment of long-term debt (chapter 11)

-

-

2,459,000

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of Senior Notes

-

-

-

-

-

850,000

450,000

0

0

1,025,000

235,000

300,000

0

Deferred financing costs

-

-

-

-

-

13,245

-

-

-

-

-

-

-

Proceeds from issuance of Senior Notes

-

-

1,200,000

-

-

-

-

-

-

-

-

-

-

Deferred financing costs

1,440

9,773

73,092

-

-6

-

8,958

0

6,866

4,425

1,283

1,578

1,204

Shares issued, net of transaction costs

-

-

573,774

-

-

-

-

-

-

-

-

-

-

Tax withholding on shares settled

75

2,378

9,581

-

-

-

-

-

-

-

-

-

-

Repurchased shares/net share settlements

-

-

-

379

2,514

9,111

5,429

6,718

36,298

23,707

11,293

298,307

96,995

Payment of contingent consideration

-

-

-

-

17,049

-

-

-

-

-

-

-

-

Debt extinguishment costs

-

-

223,838

-

-

-

-

-

-

-

-

-

-

Shares re-issued from treasury

-

-

-

-

-

-

0

-

-

-

-

-

-

Excess tax benefit from stock based compensation

-

-

-

-

-

-

0

-4,427

6,212

17,522

14,213

78,840

36,692

Payment of contingent consideration

-

-

-

-

-

0

0

-

-

-

-

-

-

Proceeds from exercise of options

-

-

-

-

-

770

11

1,157

9,928

6,561

1,430

19,086

11,686

Net cash used in financing activities

-

-

-

-

-7,557

886,414

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

-48,128

91,849

-16,737

368,621

-

-

618,624

-75,988

315,976

760,951

228,067

78,041

75,179

(Decrease)/Increase in cash during the period

-15,864

1,036

-386,780

400,791

-

-

-

-

-

-

-

-

-

Increase in cash during the period

-

-

-

-

-4,778

-1,745

-2,257

1,614

-59,527

56,580

97

3,525

-3,942

Supplemental cash flow disclosures
Cash paid for:
Interest

143,738

135,230

317,120

4,793

169,867

108,889

99,542

101,237

88,964

53,291

30,579

16,092

16,218

Income taxes

-

-

-

94

-

1,752

13,843

4,379

7,260

2,537

11,403

16,322

21,513

Supplemental non-cash investing and financing activities
Premium on Exchange Transaction

-

229,179

-

-

-

-

-

-

-

-

-

-

-

Principal reduction from exchange transaction

-

229,179

-

-

-

-

-

-

-

-

-

-

-

Non-cash investing activities oil and gas properties

-

-

-

-

-

20,000

12,651

0

0

-

-

-

-

Credit Agreement
Borrowings under Credit Agreement

712,900

1,020,000

773,000

369,000

-

-

-

-

-

-

-

-

-

Payments under Credit Agreement / Term Loan

752,200

916,000

773,000

-

-

-

-

-

-

-

-

-

-

Term Loan
Borrowings under Credit Agreement

-

-

975,000

-

-

-

-

-

-

-

-

-

-