| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-1,367,420 | 121,855 | -44,408 | -456,001 | -47,264 | 49,842 | |
Reconciliation of net income (loss) to net cash provided by operating activities: | ||||||
Depletion, depreciation, amortization and accretion | ||||||
524,537 | 435,775 | 314,999 | 205,348 | 146,547 | 34,042 | |
Abandonment and impairment of unproved properties | ||||||
73,729 | 25,704 | 15,808 | 22,318 | 16,414 | - | |
Impairment of long lived assets | ||||||
1,337,996 | 70,928 | 1,647 | 23,425 | 15,778 | - | |
Gain on sale of property and equipment | ||||||
-1,431 | 53,222 | -451 | 0 | 0 | - | |
(Gain) loss on sale of property and equipment and assets of unconsolidated subsidiary | ||||||
1,010 | 83,612 | 0 | 0 | - | - | |
Gain on repurchase of 2026 Senior Notes | ||||||
10,486 | 0 | 0 | - | - | - | |
Non-cash acquisition transaction expenses | ||||||
- | - | - | - | 6,000 | - | |
Amortization of debt issuance costs | ||||||
5,482 | 13,250 | 4,260 | 19,088 | 5,604 | 1,985 | |
Non-cash lease expense | ||||||
11,146 | - | - | - | - | - | |
Dividends, Preferred Stock, Paid-in-kind | ||||||
4,632 | - | - | - | - | - | |
Contract Assets | ||||||
24,700 | - | - | - | - | - | |
Deferred rent | ||||||
0 | 348 | -294 | 551 | 488 | - | |
Commodity derivatives (gain) loss | ||||||
-37,107 | -8,554 | -36,332 | -100,947 | 79,932 | 48,008 | |
Settlements on commodity derivatives | ||||||
-678 | -134,624 | -11,985 | 42,827 | 55,770 | 1,724 | |
Premiums paid on commodity derivatives | ||||||
2,852 | 22,749 | 475 | 611 | 5,744 | 1,867 | |
Earnings in unconsolidated subsidiaries | ||||||
2,300 | 2,900 | 400 | 0 | 0 | - | |
Distributions from unconsolidated subsidiaries | ||||||
3,200 | 1,684 | 415 | 0 | 0 | - | |
Make-whole premium expense on 2021 Senior Notes | ||||||
0 | 35,600 | 0 | 0 | - | - | |
Payment for Debt Extinguishment or Debt Prepayment Cost, Operating Activities | ||||||
- | - | - | 4,300 | - | - | |
Deferred income tax expense (benefit) | ||||||
-109,176 | 66,850 | -63,700 | -29,280 | 0 | - | |
Stock-based compensation | ||||||
43,954 | 68,349 | 65,607 | 200,308 | 5,970 | 4,462 | |
Changes in current assets and liabilities: | ||||||
Accounts receivable—trade | ||||||
-3,630 | -8,562 | 22,634 | 574 | -7,723 | 25,290 | |
Accounts receivable—oil, natural gas and NGL sales | ||||||
12,996 | -2,076 | 59,235 | 18,128 | 4,520 | 10,328 | |
Inventory, prepaid expenses and other | ||||||
332 | 853 | 523 | 1,110 | 1,024 | -2,583 | |
Accounts payable and accrued liabilities | ||||||
-5,753 | -6,835 | 31,202 | -19,187 | 24,452 | 11,096 | |
Revenue payable | ||||||
-7,598 | 66,276 | 17,643 | -6,602 | 2,984 | 35,050 | |
Production taxes payable | ||||||
40,957 | 79,106 | 32,252 | 14,585 | 19,085 | 23,511 | |
Accrued interest payable | ||||||
-1,624 | -1,558 | 4,186 | 19,171 | 277 | 173 | |
Asset retirement expenditures | ||||||
-27,702 | -13,669 | -4,168 | -687 | -1,742 | -662 | |
Due to related party | ||||||
- | - | - | - | -183 | -923 | |
Net cash provided by operating activities | ||||||
557,957 | 684,933 | 316,965 | 120,688 | 166,683 | 77,390 | |
Cash flows from investing activities: | ||||||
Oil and gas property additions | ||||||
635,853 | 958,399 | 1,370,787 | 449,600 | 391,250 | 240,447 | |
Acquired oil and gas properties | ||||||
0 | 0 | 17,225 | 419,009 | 120,524 | 707,315 | |
Sale of property and equipment | ||||||
56,305 | 80,879 | 5,155 | 2,656 | 4,742 | - | |
Gathering systems and facilities additions, net of cost reimbursements | ||||||
202,513 | 81,406 | 4,452 | 0 | - | - | |
Other property and equipment additions | ||||||
39,090 | 15,991 | 17,737 | 7,655 | 23,045 | 12,807 | |
Investment in unconsolidated subsidiaries | ||||||
30,012 | 6,000 | 0 | 0 | - | - | |
Distributions from unconsolidated subsidiary, return of capital | ||||||
0 | 0 | 518 | 0 | 0 | - | |
Sale of assets of unconsolidated subsidiary | ||||||
1,010 | 83,612 | 0 | 0 | - | - | |
Cash held in escrow | ||||||
- | - | - | - | -10,071 | 10,071 | |
Net cash used in investing activities | ||||||
-850,153 | -897,305 | -1,404,528 | -873,608 | -520,006 | -970,640 | |
Cash flows from financing activities: | ||||||
Related party - note payable converted to equity | ||||||
- | - | - | - | - | 38,750 | |
Convertible notes converted to equity | ||||||
- | - | - | - | - | 38,950 | |
Borrowings under credit facility | ||||||
465,000 | 635,000 | 565,000 | 263,000 | 125,000 | 100,000 | |
Repayments under credit facility | ||||||
280,000 | 440,000 | 475,000 | - | - | - | |
Proceeds from issuance of Preferred Units | ||||||
99,000 | 148,500 | 0 | 0 | - | - | |
Proceeds from the issuance of Second Lien Notes | ||||||
- | - | - | - | - | 423,550 | |
Repayments of 2021 Senior Notes | ||||||
- | - | - | 430,000 | 0 | - | |
Make-whole premium paid on 2021 Senior Notes | ||||||
- | - | - | 121,370 | 254,986 | 397,670 | |
Repayments of Long-term Lines of Credit | ||||||
- | - | - | 488,000 | 0 | - | |
Proceeds from the issuance of Senior Notes | ||||||
0 | 739,664 | 394,000 | 550,000 | 0 | - | |
Repayments of 2021 Senior Notes | ||||||
0 | 550,000 | 0 | 0 | - | - | |
Make-whole premium paid on 2021 Senior Notes | ||||||
0 | 35,600 | 0 | 0 | - | - | |
Payment for Repurchase of Senior Notes | ||||||
39,325 | 0 | 0 | - | - | - | |
Repurchase of common stock | ||||||
137,743 | 30,672 | 2,105 | 2,867 | 0 | - | |
Payment of employee payroll withholding taxes | ||||||
1,851 | 5,327 | 1,804 | 0 | 0 | - | |
Issuance of common stock | ||||||
- | - | - | 1,185,332 | 0 | - | |
Issuance of Series A Preferred Units | ||||||
- | - | - | 75,000 | 0 | - | |
Redemption of Series A Preferred Units | ||||||
- | - | - | 88,688 | 0 | - | |
Proceeds from the issuance of Series B Preferred Units | ||||||
- | - | - | 185,280 | 0 | - | |
Debt and equity issuance costs | ||||||
2,104 | 3,175 | 6,295 | 14,102 | 2,876 | 17,318 | |
Preferred Unit issuance costs | ||||||
2,500 | 6,915 | 0 | 0 | - | - | |
Payments of Stock Issuance Costs | ||||||
- | - | - | 64,554 | 5,706 | 9,512 | |
Net cash provided by financing activities | ||||||
89,592 | 440,590 | 463,395 | 1,286,750 | 371,404 | 972,090 | |
(Decrease) increase in cash and cash equivalents | ||||||
-202,604 | 228,218 | -624,168 | 533,830 | 18,081 | 78,840 | |
Supplemental cash flow information: | ||||||
Property and equipment included in accounts payable and accrued liabilities | ||||||
118,152 | 141,952 | 151,571 | 105,450 | 72,236 | 69,262 | |
Cash paid for interest | ||||||
93,084 | 84,224 | 54,492 | 31,280 | 50,380 | 22,432 | |
Acquisition transaction expenses paid through oil and gas properties | ||||||
- | - | - | - | 6,000 | - | |
Oil and gas property acquired through units | ||||||
- | - | - | - | - | 322 | |
Issuance of promissory note to unconsolidated subsidiary | ||||||
- | - | - | 4,300 | 0 | - | |
Issuance of promissory note to unconsolidated subsidiary | ||||||
0 | 35,329 | 0 | 0 | - | - | |
Extinguishment of promissory note in exchange for equity with unconsolidated subsidiary | ||||||
0 | -35,329 | 0 | 0 | - | - | |
Write-off of deposit on acquisition | ||||||
- | - | - | 10,000 | 0 | - | |
Accretion of beneficial conversion feature of Series A Preferred Stock | ||||||
6,640 | 5,984 | 5,394 | 1,041 | 0 | - | |
Promissory notes issued to officers | ||||||
- | - | - | - | - | 5,368 | |
Noncash settlement of promissory notes issued to officers | ||||||
- | - | - | 5,562 | 0 | - | |
Increase in dividends payable | ||||||
0 | 0 | 484 | 0 | 0 | - | |
Non-cash contribution to unconsolidated subsidiary | ||||||
0 | 0 | 8,738 | 0 | 0 | - | |
Preferred Units commitment fees and dividends paid-in-kind | ||||||
19,992 | 7,287 | 0 | 0 | - | - | |
Series A Preferred Stock | ||||||
Dividends on preferred stock/units | ||||||
10,885 | 10,885 | 10,401 | 0 | - | - | |
Series B Preferred Units | ||||||
Dividends on preferred stock/units | ||||||
- | - | - | 721 | - | - | |