v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (230,328,000) $ (104,072,000)  
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation, depletion, amortization and accretion 31,486,000 35,964,000  
Impairment of oil and gas properties 333,840,000 0  
Deferred income taxes 37,027,000 2,994,000  
Stock-based compensation 19,000 974,000  
(Gain) loss on derivative instruments (106,025,000) 104,490,000  
Net cash received (paid) in settlement of derivative instruments 8,627,000 (1,821,000)  
Amortization of debt issuance costs 518,000 427,000  
Write-off of undeveloped and exploratory costs 12,806,000 0  
Other 283,000 1,000  
Revaluation of Tax Receivable Agreement liability (53,643,000) 0  
Changes in operating assets and liabilities:      
Decrease (increase) in accounts receivable and accounts receivable, related parties 13,577,000 (650,000)  
Decrease (increase) in prepaid and other assets 918,000 (329,000)  
Increase (decrease) in accounts payable and accrued liabilities and other (4,507,000) 13,670,000  
Increase (decrease) in accounts payable, related parties 290,000 (275,000)  
Increase (decrease) in lease liabilities (305,000) 0  
Net cash provided by operating activities 44,583,000 51,373,000  
Cash flows from investing activities:      
Additions to oil and natural gas properties (45,204,000) (75,825,000)  
Proceeds received from disposition of oil and natural gas properties 0 1,100,000  
Additions to other property and equipment (120,000) (55,000)  
Proceeds from sale of other property and equipment 10,000 0  
Net cash used in investing activities (45,314,000) (74,780,000)  
Cash flows from financing activities:      
Proceeds from revolving credit facility 96,000,000 13,000,000  
Repayment on revolving credit facility (16,000,000) 0  
Debt issuance costs 0 (644,000)  
Dividends paid on preferred stock (3,951,000) (3,362,000)  
Restricted stock used for tax withholdings 0 (89,000)  
Payment on capital lease obligation 0 (3,000)  
Net cash provided by financing activities 76,049,000 8,902,000  
Net decrease in cash, cash equivalents, and restricted cash 75,318,000 (14,505,000)  
Cash and cash equivalents beginning of period 2,991,000 20,157,000 $ 20,157,000
Cash and cash equivalents end of period 78,309,000 5,652,000 2,991,000
Supplemental disclosures:      
Cash paid for interest 5,598,000 3,424,000  
Supplemental noncash activity:      
Asset retirement obligations incurred, net of revision of estimates (22,000) 66,000  
Changes in accrued capital expenditures 418,000 (4,618,000)  
Changes in accounts payable for capital expenditures 2,504,000 8,264,000  
Series A Preferred Stock      
Supplemental noncash activity:      
Series A Preferred Stock dividends paid-in-kind 2,102,000 0  
Preferred Stock cash dividends declared and payable 0 2,006,000  
Series B Preferred Stock      
Supplemental noncash activity:      
Preferred Stock cash dividends declared and payable 0 3,866,000  
Series B Preferred Stock accrued dividends 4,677,000 0  
Series B Preferred Stock return 816,000 1,577,000  
Series B Preferred Stock deemed dividend $ 405,000 $ 365,000 $ 405,000

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