| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net loss | ||||||
-116,082 | -70,814 | -93,622 | - | |||
Adjustments to reconcile net loss to cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
154,149 | 108,440 | 92,430 | - | |||
Impairment loss on intangible assets | ||||||
- | - | 20,247 | - | |||
Provision for losses on accounts receivable | ||||||
434 | 644 | 438 | - | |||
Provision for losses on inventory obsolescence | ||||||
359 | 153 | 450 | - | |||
Non-cash interest | ||||||
- | 9,553 | 17,456 | - | |||
Loss on disposal of assets | ||||||
-20,065 | -10,848 | -11,958 | - | |||
Amortization of discount on debt | ||||||
1,581 | 50 | - | - | |||
Deferred financing costs amortization | ||||||
1,410 | 8,534 | 1,775 | - | |||
Loss on extinguishment of debt | ||||||
-12,558 | -190 | - | - | |||
Share-based compensation expense | ||||||
7,755 | 20,633 | 4,546 | - | |||
Changes in assets and liabilities: | ||||||
Accounts receivable | ||||||
21,950 | -15,765 | 35,716 | - | |||
Inventory | ||||||
-2 | -3,591 | 7,646 | - | |||
Prepaids and other current assets | ||||||
-3,226 | 6,460 | 5,879 | - | |||
Accounts payable | ||||||
-12,316 | -22,543 | 38,913 | - | |||
Accrued liabilities | ||||||
5,463 | 4,887 | 1,937 | - | |||
Accrued interest | ||||||
18,190 | -2 | - | - | |||
Net cash provided by (used in) operating activities | ||||||
74,844 | 83,469 | 47,287 | - | |||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||
Purchase of property and equipment | ||||||
209,101 | 147,606 | 71,584 | - | |||
Insurance proceeds from damaged property and equipment | ||||||
807 | 8,033 | 19 | - | |||
Net cash used in investing activities | ||||||
-208,294 | -139,573 | -71,565 | - | |||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||
Proceeds from revolving credit facility | ||||||
49,960 | 55,975 | 49,825 | - | |||
Repayment of revolving credit facility | ||||||
65,844 | 49,825 | 15,475 | - | |||
Proceeds from issuance of long-term debt | ||||||
285,000 | 40,000 | - | - | |||
Repayments of long-term debt to related party | ||||||
- | 163,860 | - | - | |||
Repayments of long-term debt | ||||||
75,000 | - | - | - | |||
Payment of fees related to debt extinguishment | ||||||
6,560 | - | - | - | |||
Proceeds from issuance of note payable | ||||||
9,928 | 7,278 | 4,112 | - | |||
Repayments of notes payable | ||||||
6,421 | 4,163 | 2,723 | - | |||
Repayments of amounts under equipment financing | ||||||
70,619 | 22,997 | 4,607 | - | |||
Payment to re-acquire JMRF Interest | ||||||
- | - | 29 | - | |||
Principal payments under finance lease obligation | ||||||
16,699 | 9,551 | 2,587 | - | |||
Proceeds from issuance of preferred stock and warrants, net | ||||||
54,524 | - | - | - | |||
Cash distribution to partners | ||||||
- | 10 | - | - | |||
Proceeds from issuance of common stock, net | ||||||
- | 243,865 | - | - | |||
Repurchase of common stock | ||||||
- | 11,475 | - | - | |||
Deferred financing costs | ||||||
13,451 | 5,523 | 2,200 | - | |||
Net cash provided by (used in) financing activities | ||||||
144,818 | 79,714 | 26,316 | - | |||
Net decrease in cash and cash equivalents and restricted cash | ||||||
11,368 | 23,610 | 2,038 | - | |||
Supplemental cash flow disclosure: | ||||||
Interest paid | ||||||
8,838 | 41,537 | 3,745 | - | |||
Income tax paid | ||||||
116 | - | - | - | |||
Non-cash investing and financing activities: | ||||||
Beneficial conversion feature of Series A preferred stock | ||||||
20,132 | - | - | - | |||
Issuance of warrants to purchase common stock associated with preferred stock offering | ||||||
10,720 | - | - | - | |||
Deemed and imputed dividends on Series A preferred stock | ||||||
11,206 | - | - | - | |||
Accrued Series A preferred stock dividends | ||||||
4,050 | - | - | - | |||
Changes in accrued and unpaid capital expenditures | ||||||
6,874 | 27,283 | 2,298 | - | |||
Assets under finance lease obligations | ||||||
10,513 | 15,849 | 21,330 | - | |||
Financed equipment purchases | ||||||
66,342 | 7,482 | 30,385 | - | |||
Partial settlement of debt through issuance of common stock | ||||||
- | 13,150 | - | - | |||
Deferred finance cost related to issuance of Class B units by USWS Holdings | ||||||
- | - | 8,271 | - | |||
Predecessor [Member] | ||||||
Net loss | ||||||
- | - | - | -95,404 | |||
Depreciation and amortization | ||||||
- | - | - | 66,084 | |||
Non-cash interest | ||||||
- | - | - | 11,790 | |||
SMRF Interests present value adjustment | ||||||
- | - | - | 659 | |||
Loss on disposal of assets | ||||||
- | - | - | -6,560 | |||
Amortization of discount on debt | ||||||
- | - | - | 4,433 | |||
Deferred financing costs amortization | ||||||
- | - | - | 1,515 | |||
Accounts receivable | ||||||
- | - | - | -32,526 | |||
Inventory | ||||||
- | - | - | -3,573 | |||
Prepaids and other current assets | ||||||
- | - | - | 2,764 | |||
Other non-current assets | ||||||
- | - | - | -333 | |||
Accounts payable | ||||||
- | - | - | -10,226 | |||
Accrued liabilities | ||||||
- | - | - | -2,809 | |||
Accrued interest | ||||||
- | - | - | -6,449 | |||
Net cash provided by (used in) operating activities | ||||||
- | - | - | 22,719 | |||
Purchase of property and equipment | ||||||
- | - | - | 19,045 | |||
Insurance proceeds from damaged property and equipment | ||||||
- | - | - | 253 | |||
Net cash used in investing activities | ||||||
- | - | - | -18,792 | |||
Proceeds from issuance of revolving credit facility | ||||||
- | - | - | 300,679 | |||
Repayments of revolving credit facility | ||||||
- | - | - | 291,829 | |||
Proceeds from issuance of note payable | ||||||
- | - | - | 4,118 | |||
Repayments of note payable | ||||||
- | - | - | 2,444 | |||
Repayments of senior term loans | ||||||
- | - | - | 5,155 | |||
Repayments of amounts under equipment financing agreements | ||||||
- | - | - | 1,768 | |||
Principal payments under finance lease obligation | ||||||
- | - | - | 62 | |||
Cash distribution to partners | ||||||
- | - | - | 24 | |||
Deferred financing costs | ||||||
- | - | - | 1,750 | |||
Net cash provided by financing activities | ||||||
- | - | - | 1,765 | |||
Net increase (decrease) in cash and cash equivalents and restricted cash | ||||||
- | - | - | 5,692 | |||
Interest paid | ||||||
- | - | - | 20,534 | |||
Accrued and unpaid capital expenditures | ||||||
- | - | - | 1,867 | |||