XML 52 R39.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - Centennial Resource Production, LLC (Centennial OpCo) and Celero Energy Company, L.P. - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities      
Net (loss) income $ (38,325) $ 17,788 $ 3,612
Adjustments to reconcile net loss to net cash provided by operating activities:      
Accretion of asset retirement obligations 139 156 358
Depreciation, depletion, amortization 89,945 68,954 28,927
Non cash incentive compensation expense   12,420  
Abandonment expense and impairment of unproved properties 7,619 20,025 8,524
Write-off of deferred S-1 related expense 1,585    
Deferred tax (benefit) expense (572) 1,524 1,079
(Gain) loss on sale of oil and natural gas properties (2,439) 2,096 (16,756)
(Gain) loss on derivative instruments (20,756) (41,943) 4,410
Net cash received for derivative settlements 35,493 4,611 (12,651)
Payment of derivative contract premiums     (994)
Recovery of bad debt   (777) 1,128
Amortization of debt issuance costs 482 316 210
Change in operating assets and liabilities:      
Decrease (increase) in accounts receivable 5,244 (6,322) (1,016)
Increase in prepaid and other assets (864) (79) (2,054)
(Decrease) increase in accounts payable and other liabilities (8,669) 18,479 (1,361)
Net cash provided by operating activities 68,882 97,248 13,416
Cash flows form investing activities      
Acquisition of oil and natural gas properties (43,223) (22,167) (27,412)
Development of oil and natural gas properties (156,006) (275,683) (146,463)
Purchase of other property and equipment (2,097) (453) (543)
Proceeds from sales of oil and natural gas properties 2,691 72,382 46,316
Development of assets held for sale   (14,240) (37,915)
Proceeds from sale of Atlantic Midstream, net of cash sold   71,781  
Change in cash held in escrow   5,000 29,500
Net cash used by investing activities (198,635) (163,380) (136,517)
Cash flows from financing activities      
Proceeds from revolving credit facility 92,000 196,000 57,000
Repayment of revolving credit facility (83,000) (160,000) (28,000)
Financing obligation (1,633)    
Capital contributions 111,396 59,776 114,859
Debt issuance costs (259) (1,637) (471)
Repurchase of equity   (119,272) (21,102)
Capital distribution     (4,238)
Proceeds from term loan   65,000  
Distribution in connection with common control acquisition   (3,051)  
Contributions received from noncontrolling interest   150 694
Net cash provided by the financing activities 118,504 36,966 118,742
Net decrease in the cash and cash equivalents (11,249) (29,166) (4,359)
Cash and cash equivalents, beginning of period 13,017 42,183 46,542
Cash and cash equivalents, end of period 1,768 13,017 42,183
Supplemental cash flow information      
Cash paid for interest 5,782 1,935 232
Supplemental noncash activity      
Accrued capital expenditures included in accounts payable and accrued expenses 13,124 $ 81,510 5,099
Owners' promissory note receivable     $ 3,399
Financing obligation $ 3,770