ULTRA PETROLEUM CORP. UPL Cash Flow

Ultra petroleum corp. (UPL)

CashFlow / Quarterly

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09
Operating activities:
Net income for the period
-1,306	11,514	57,106	40,674	39,705	18,569	-20,560	47,493	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss)
-	-	-	-	-	-	-	-	-	-	-	-89,698	-	98,409	13,999	-21,831	-3,204,639	-3,099	-24,671	25,189	209,726	125,362	106,048	101,715	41,121	63,906	116,378	16,433	-472,033	-602,142	-1,186,985	84,262	131,831	149,145	103,506	68,720	37,950	162,640	61,493	202,376	95,392	-8,331	-25,526	-512,588
Adjustments to reconcile net income to cash provided by operating activities:
Depletion, depreciation and amortization
47,224	49,581	55,769	51,653	52,301	49,672	51,742	50,540	50,429	41,089	38,674	31,753	31,847	31,191	31,235	30,848	121,438	92,806	92,366	94,590	88,141	76,288	65,341	63,181	62,397	59,402	60,123	61,468	74,870	86,646	114,767	112,702	107,621	85,795	79,219	73,759	74,001	59,675	56,853	51,267	49,824	46,367	44,974	60,661
Write-down of proved oil and gas properties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,037,000
Deferred and current non-cash income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-246	-217	-269	-258	995	0	0	0	-	-	-	-	-213	-188	-756,248	44,073	74,640	79,438	55,798	41,330	22,990	83,020	33,449	114,467	49,758	-13,288	-13,497	-276,939
Unrealized (gain) loss on commodity derivatives
-21,675	-6,570	68,235	14,292	12,758	-11,018	-53,933	-7,606	12,833	-4,234	21,585	-13,218	-	-	0	0	-19,515	-35,910	-56,271	7,506	103,446	40,750	22,189	-36,319	-26,399	3,383	41,855	-44,715	-47,246	-93,330	-147,555	57,746	66,725	60,537	2,526	-29,405	-59,910	109,603	-23,088	182,020	26,030	-145,048	-159,904	186,073
Deferred gain on sale of liquids gathering system
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,638	-2,638	-	-2,639	-2,638	-2,638	18,468	-2,639	-2,638	-2,638	-2,639	-2,638	-2,636	-2,640	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from stock based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-212	-188	-288	-3,739	-229	-111	5,446	1,106	1,136	-34	5,103	11,317	9,247	2,572	2,394	0
Deferred gain on sale of liquids gathering system
-	-	-	-	2,638	2,639	2,638	2,638	2,638	2,639	2,638	2,638	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock compensation
300	750	680	841	278	1,425	1,312	8,810	5,795	7,918	25,413	851	1,595	1,263	907	1,797	-1,381	2,680	836	1,993	1,967	2,471	-1,476	2,505	3,142	563	3,054	3,008	2,926	3,049	2,325	2,456	4,027	3,446	3,324	3,122	3,822	2,985	3,356	2,781	3,278	2,804	2,694	2,125
Payable-in-kind (“PIK”) interest payable
2,845	3,300	3,539	3,183	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash reorganization items, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,324	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash reorganization items, net
-	-	-	-	-	-	-	-	-2,810	-19,520	-475,155	43,576	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of premium on restructuring
-10,616	-10,586	-10,856	-9,716	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
3,403	3,255	3,185	3,123	2,877	2,823	2,783	2,727	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-603	-635	-1,333	-582	-4,547	1,253	2	-209	33	-46	1,232	-172	-252	-8,331	1,844	4,063	-10,322	1,322	1,372	3,601	-7,773	1,081	1,080	1,043	574	604	535	539	2,004	584	542	537	712	262	270	251	-	-	-	-	-	-	-	-
Net changes in operating assets and liabilities:
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities, Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	187	84	-	161	603	117
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	127	2,084	1,135	-	0	0	-2	0	0	0	-2	0	0	0	-2	0	0	0	0	-	-	-	-	-1,665	0	82	0	-2	1	13	-1,058
Accounts receivable
26,487	-2,294	-36,402	-50,243	58,333	5,681	-5,177	-12,561	14,392	374	14,397	-14,680	12,853	12,164	5,558	-10,940	-15,528	-6,841	-7,020	-35,743	24,886	-4,745	-9,178	32,153	5,749	-19,113	5,156	-8,357	23,802	-13,675	-23,825	-49,060	4,581	9,993	6,177	6,159	26,958	-18,755	5,084	18,679	-5,200	-299	19,989	-29,464
Other current assets
-	-4,024	329	307	-	6,526	-1,298	-2,485	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other current assets
-	-	-	-	-	-	-	-	-	-	-7,769	-203	-	1,594	-1,844	15,121	19,490	588	-2,237	2,265	-3,951	5,475	-232	628	-670	484	-696	-298	-322	586	-7,702	5,698	3,066	356	-3,220	4,791	-3,007	-675	-6,919	10,830	-1,528	1,136	-1,870	-2,006
Other current and non-current assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-135	142	38	-45	4,081	0	0	-2,905	-1,679	1,716	545	2,323
Accounts payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-19,685	-50,867	-	9,395	6,015	-22,308	2,491	21,531	7,721	-3,047	21,892	4,574	-19,619	-8,247	113,052	-34,310	-88,285	-28,421	-17,204	-25,188	69,497	-42,672	55,718	-1,627	34,012	3,879	2,819	4,621	-13,553	-31,966
Accrued liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,626	-9,970	-	15,442	-10,325	-9,586	5,959	-19,703	-3,335	11,141	-10,294	-9,858	22,155	-34,907	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other non-current assets
-	-30	-29	-30	-	-30	-308	-30	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
5,146	-11,892	-1,090	-359	1,190	4,129	-13,262	-5,263	-4,270	8,374	7,277	22,968	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued liabilities
-7,881	-2,351	-9,944	4,425	-13,855	-2,323	3,370	-7,486	454	92,849	-42,059	38,691	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Production taxes payable
-19,850	18,127	-28,957	25,743	-14,094	17,496	-19,926	23,622	-11,983	18,137	-17,643	18,512	-18,926	18,449	-6,608	-859	-7,097	546	5,947	-2,708	9,358	-490	2,922	3,325	2,314	-1,042	-8,547	68	-12,339	639	-86	-2,586	531	-172	15,815	-7,439	-	-	-	-	-	-	-	-
Interest payable
6,120	-10,921	5,953	99	-13,525	21,061	-20,819	17,172	-195,333	199,115	-52,901	85,339	-1	0	14,865	42,253	1,136	-1,138	-921	-2,518	28,046	-13,375	15,061	-15,499	23,297	-21,765	21,430	-21,190	21,598	-21,944	21,662	-21,529	-4,747	5,247	-11,939	14,867	-	-	-	-	-	-	-	-
Other long-term obligations
4,977	-9,434	19,850	-11,663	10,792	-6,471	11,061	-12,708	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other long-term obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-13,999	14,105	-12,238	12,565	-14,527	12,381	-5,584	13,765	-5,081	8,113	-26,045	9,375
Other long-term obligations
-	-	-	-	-	-	-	-	-	-	12,100	-8,292	-	-5,966	-12,485	9,020	-12,810	11,536	-16,728	12,232	-	12,173	-6,325	11,553	-	9,314	-5,807	9,238	-	7,612	-19,459	10,100	-	-	-	-	-	-	-	-	-	-	-	-
Current taxes payable/receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-89	-190	-	-916	5,013	-1,764	-4,895	7,292	-544	-1,244	-8,379	-369	523	-9,282	9,039	-954	1,607	-1,646	2,462	1,262	473	2,725	534	2,825	0	0	-	-	-	-
Current taxes payable/receivable
-881	0	0	6,431	0	0	8	6,836	-6,411	-6,886	0	2,099	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	171,434	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
24,934	62,357	64,435	150,690	3,786	101,330	53,785	151,996	-	-	-	-	-	-	35,428	-3,690	-	167,881	121,525	121,799	-	168,511	171,076	175,575	145,567	117,937	141,274	67,860	174,750	152,426	138,346	189,303	313,500	242,412	292,758	184,622	220,584	231,962	203,504	168,678	171,872	180,369	108,483	131,917
Investing Activities:
Acquisition Costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	3,964	-	-890,785	-290	0	-	-	-	-	-	-	-	-	-	-	-	-	-2,813	-68,023	0	-332,970	-	-	-	-
Oil and gas property expenditures
8,031	56,312	84,439	92,352	86,248	88,952	116,466	134,500	170,275	161,697	135,697	89,360	79,803	67,969	44,870	76,672	103,151	123,352	135,436	132,086	158,115	170,278	147,925	123,595	87,041	85,890	90,336	107,395	119,209	119,518	197,049	272,241	354,161	385,640	390,110	305,700	332,966	291,640	341,205	198,578	173,307	138,341	141,113	220,757
Change in capital cost accrual and accounts payable
18,265	7,508	4,445	-1,702	-4,381	17,220	6,404	8,079	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory
-	-	-1,148	-419	-	-	-934	5,074	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of capital assets
-	102	162	211	-	2,223	1,193	1,196	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gathering system expenditures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	2,184	2,339	2,319	373	1,862	2,269	1,006	11,177	24,676	74,905	16,391	48,817	13,762	7,872	13,545	15,360	28,364	17,794	15,185	31,086	16,251	19,384	1,112
Proceeds from sale of property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	27,944	0	0	0	129	0	-102	-27	0	0	0	0	-	-	-	-	-	0	0	68,420	-	0	0	0
Restricted Cash Non Current
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-28,257	-	-	-	-
Change in capital cost accrual
-	-	-	-	-	-	-	-	-	-	-8,659	919	-	-2,770	2,408	11,092	4,795	4,969	3,368	12,248	4,938	81,803	34,641	4,195	1,524	13,068	1,963	49,420	-7,970	7,147	-51,654	14,139	-52,693	-45,410	-27,976	818	40,102	-11,604	-21,407	-26,917	4,272	-7,729	1,155	58,629
Inventory
-	-	-	-	-	-	-	-	-	-	-26	2,302	-	-332	188	8	-58	-2,832	-359	14	-	-493	-1,233	911	-	-1,137	1,049	-529	-	39	325	671	-	-	-	-	-	-	-	-	-	-	-	-
Inventory
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	383	1,335	307	-430	1,971	-1,239	520	486	265	1,812	2,257	-310
Purchase of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,003	-1	704	0
Purchase of capital assets
-	-	-	-	-	-	-	-	-	-	522	234	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-92,815	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of capital assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	10	-132	-	165	594	-90	-	3,139	1,512	676	-	220	185	10	-	108	2,454	1,571	-	450	314	175	-	427	306	36	-	265	76	591
Net cash used in investing activities
-26,323	-65,489	-87,898	-90,442	-94,160	-35,572	-123,129	-148,849	-	-	-	-	-	-	-47,476	-87,640	-	-125,654	-139,039	-140,294	-	-1,147,696	-185,474	-131,696	-740,383	-99,903	-95,904	-157,329	102,357	-151,488	-223,079	-305,013	-365,007	-353,107	-370,013	-320,668	-390,943	-378,089	-337,378	-422,689	-233,722	-145,315	-160,175	-281,399
Financing activities:
Borrowings under Credit Agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	369,000	-	222,000	260,000	454,000	262,000	375,000	263,000	195,000	353,000	155,000	184,000	314,000	103,000	189,000	237,000	323,000	361,000	392,000	303,000	201,000	14,000	403,000	286,000	297,000	242,000	134,000	183,000	258,000
Payments under Credit Agreement / Term Loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	244,000	271,000	391,000	310,000	236,000	251,000	240,000	193,000	175,000	237,000	218,000	426,000	146,000	139,000	207,000	296,000	268,000	237,000	113,000	305,000	258,000	151,000	546,000	177,000	168,000	140,000	342,000
Proceeds from issuance of Senior Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	525,000	0	0	500,000	0	0	0	235,000
Deferred financing costs
0	952	0	488	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-6	-	13,153	0	164	8,958	0	0	0	-	-	-	-	-	-	-	-	2,160	0	0	2,265	0	0	4	1,279
Repurchased shares/net share settlements
-	-	-	-	-	-	0	2,061	-	0	9,537	44	60	319	-307	307	7	21	67	2,419	6,096	458	819	1,738	105	59	180	5,085	168	254	339	5,957	7,673	7,996	17,662	2,967	0	0	7,039	16,668	11,293	0	0	0
Excess tax benefit from stock based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-212	-188	-288	-3,739	-229	-111	5,446	1,106	1,136	-34	5,103	11,317	9,247	2,572	2,394	0
Payment of contingent consideration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-17,049	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	102	329	339	11	0	0	0	0	0	525	632	273	413	7,277	1,965	999	50	3,122	2,390	156	69	1,205	0
Net cash used in financing activities
-	-	-	-	-	-	-	-	-	-	-	-44	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
-1,742	1,611	18,491	-66,488	94,548	-58,000	57,362	-2,061	-	-	-	-	-	-	0	368,693	-	-22,021	-11,067	43,538	-	975,491	11,510	-46,563	600,948	-20,059	-53,180	90,915	-323,380	42,558	97,898	106,936	50,505	116,306	61,061	88,104	233,975	145,016	136,186	245,774	63,110	-31,359	46,595	149,721
(Decrease)/Increase in cash during the period
-3,131	-1,521	-4,972	-6,240	4,174	7,758	-11,982	1,086	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in cash during the period
-	-	-	-	-	-	-	-	-	-	-	78,575	-	74,062	-12,048	277,363	-21,446	20,206	-28,581	25,043	7,521	-3,694	-2,888	-2,684	6,132	-2,025	-7,810	1,446	-46,273	43,496	13,165	-8,774	-1,002	5,611	-16,194	-47,942	63,616	-1,111	2,312	-8,237	1,260	3,695	-5,097	239
Supplemental cash flow disclosures
Supplemental non-cash investing and financing activities
Non-cash investing activities oil and gas properties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1	12,650	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Credit Agreement
Borrowings under Credit Agreement
151,900	130,000	199,000	232,000	388,000	182,000	259,000	191,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments under Credit Agreement / Term Loan
151,200	125,000	178,000	298,000	284,000	240,000	201,000	191,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-