v3.19.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income (loss) $ 117,962 $ (11,948) $ (15,189)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation, depletion, amortization, accretion and impairment of oil and gas properties 141,815 37,152 24,965
Deferred income taxes 18,157 1,690 0
Stock-based compensation 6,522 1,245 0
(Gain) loss on sale of fixed assets 499 (4,995) (50)
(Gain) loss on derivative instruments (92,534) 16,706 4,630
Net cash received (paid) in settlement of derivative instruments (14,683) 74 (1,608)
Amortization of debt issuance costs 2,139 274 113
Settlement of asset retirement obligations (801) (840) (53)
Tax Receivable Agreement Expense 3,518 0 0
Changes in operating assets and liabilities:      
(Increase) in accounts receivable and accounts receivable, related parties (14,816) (8,230) (3,091)
(Increase) decrease in prepaid and other assets (59) (451) 53
Increase in accounts payable and accrued liabilities and other 8,526 7,476 1,691
Increase (decrease) in accounts payable, related parties 64 (394) 0
Net cash provided by operating activities 176,309 37,759 11,461
Cash flows from investing activities:      
Additions to oil and natural gas properties (377,897) (149,832) (22,004)
Acquisition of White Wolf (4,005) (114,843) 0
Acquisition of land and leasehold, royalty and mineral interest (15,281) (6,500) 0
Additions to other property and equipment (2,160) (574) (263)
Proceeds from sale of other property and equipment 0 6,252 103
Net cash used in investing activities (399,343) (265,497) (22,164)
Cash flows from financing activities:      
Proceeds from revolving credit facility 274,000 66,000 10,000
Repayment on revolving credit facility (80,000) (121,000) 0
Repayment of long-term debt 0 0 (20,000)
Proceeds from Class A Common Stock offering 40,511 0 0
Class A Common Stock offering issuance costs (1,155)
Proceeds from issuance of Series A Preferred Stock and Warrants 0 95,000 0
Series A Preferred Stock issuance costs 0 (4,220) 0
Proceeds from issuance of Series B Preferred Stock 0 150,000 0
Series B Preferred Stock upfront fees and transaction costs (20) (10,017) 0
Proceeds from Second lien notes, net 0 97,000 0
Net proceeds from the Transaction 0 18,688 0
Distribution to noncontrolling interest 0 (40,487) 0
Distribution to Tema 0 (2,267) 1,432
Debt issuance costs (3,330) (4,640) 0
Dividends paid on preferred stock (10,716) (38) 0
Restricted stock used for tax withholdings (749) 0 0
Payment on capital lease obligation (32) (33) (29)
Net cash provided by (used in) financing activities 218,509 243,986 (8,597)
Net increase (decrease) in cash, cash equivalents, and restricted cash (4,525) 16,248 (19,300)
Cash, cash equivalents, and restricted cash beginning of period 24,682 8,434 27,734
Cash, cash equivalents, and restricted cash end of period 20,157 24,682 8,434
Supplemental disclosures:      
Cash paid for interest 17,065 1,889 1,794
Supplemental noncash activity:      
Asset retirement obligations incurred 4,697 5,766 1,641
Changes in accrued capital expenditures 14,516 42,602 (1,434)
Changes in accounts payable for capital expenditures 7,456 25,541 0
Reconciliation of Cash, Cash Equivalents and Restricted Cash      
Total cash, cash equivalents and restricted cash 24,682 8,434 27,734
Series A Preferred Stock      
Supplemental noncash activity:      
Series A Preferred Stock paid-in-kind 3,971 5,530 0
Series B Preferred Stock      
Supplemental noncash activity:      
Series B Preferred Stock dividends paid-in-kind 6,120 626 0
Series B Preferred Stock deemed dividend $ 1,345 $ 174 $ 0

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