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Condensed Consolidating Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Schedule of Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet
| December 31, 2017
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands, except share data)
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 178 |  |  | $ | 15,659 |  |  | $ | 883 |  |  | $ | — |  |  | $ | 16,720 |
Accounts receivable, net | — |  |  | 362,746 |  |  | 834 |  |  | — |  |  | 363,580 |
Accounts receivable - affiliates | 425,668 |  |  | 46,020 |  |  | 85,818 |  |  | (557,506 | ) |  | — |
Inventory | — |  |  | 19,367 |  |  | — |  |  | — |  |  | 19,367 |
Prepaid expenses | 267 |  |  | 6,586 |  |  | 778 |  |  | — |  |  | 7,631 |
Derivative instruments | — |  |  | 344 |  |  | — |  |  | — |  |  | 344 |
Other current assets | — |  |  | 193 |  |  | — |  |  | — |  |  | 193 |
Total current assets | 426,113 |  |  | 450,915 |  |  | 88,313 |  |  | (557,506 | ) |  | 407,835 |
Property, plant and equipment |  |  |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 7,840,921 |  |  | — |  |  | (1,966 | ) |  | 7,838,955 |
Other property and equipment | — |  |  | 214,818 |  |  | 653,928 |  |  | — |  |  | 868,746 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (2,499,867 | ) |  | (34,348 | ) |  | — |  |  | (2,534,215 | )
Total property, plant and equipment, net | — |  |  | 5,555,872 |  |  | 619,580 |  |  | (1,966 | ) |  | 6,173,486 |
Investments in and advances to subsidiaries | 4,790,976 |  |  | 422,132 |  |  | — |  |  | (5,213,108 | ) |  | — |
Derivative instruments | — |  |  | 9 |  |  | — |  |  | — |  |  | 9 |
Deferred income taxes | 183,568 |  |  | — |  |  | — |  |  | (183,568 | ) |  | — |
Long-term inventory | — |  |  | 12,200 |  |  | — |  |  | — |  |  | 12,200 |
Other assets | — |  |  | 19,587 |  |  | 2,013 |  |  | — |  |  | 21,600 |
Total assets | $ | 5,400,657 |  |  | $ | 6,460,715 |  |  | $ | 709,906 |  |  | $ | (5,956,148 | ) |  | $ | 6,615,130 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 13,370 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,370 |
Accounts payable - affiliates | 34,382 |  |  | 511,486 |  |  | 11,638 |  |  | (557,506 | ) |  | — |
Revenues and production taxes payable | — |  |  | 213,995 |  |  | — |  |  | — |  |  | 213,995 |
Accrued liabilities | 216 |  |  | 177,446 |  |  | 58,818 |  |  | — |  |  | 236,480 |
Accrued interest payable | 38,796 |  |  | 53 |  |  | 114 |  |  | — |  |  | 38,963 |
Derivative instruments | — |  |  | 115,716 |  |  | — |  |  | — |  |  | 115,716 |
Advances from joint interest partners | — |  |  | 4,916 |  |  | — |  |  | — |  |  | 4,916 |
Other current liabilities | — |  |  | 40 |  |  | — |  |  | — |  |  | 40 |
Total current liabilities | 73,394 |  |  | 1,037,022 |  |  | 70,570 |  |  | (557,506 | ) |  | 623,480 |
Long-term debt | 1,949,606 |  |  | 70,000 |  |  | 78,000 |  |  | — |  |  | 2,097,606 |
Deferred income taxes | — |  |  | 489,489 |  |  | — |  |  | (183,568 | ) |  | 305,921 |
Asset retirement obligations | — |  |  | 47,195 |  |  | 1,316 |  |  | — |  |  | 48,511 |
Derivative instruments | — |  |  | 19,851 |  |  | — |  |  | — |  |  | 19,851 |
Other liabilities | — |  |  | 6,182 |  |  | — |  |  | — |  |  | 6,182 |
Total liabilities | 2,023,000 |  |  | 1,669,739 |  |  | 149,886 |  |  | (741,074 | ) |  | 3,101,551 |
Stockholders’ equity |  |  |  |  |  |  |  |  |
Capital contributions from affiliates | — |  |  | 3,264,691 |  |  | 234,935 |  |  | (3,499,626 | ) |  | — |
Common stock, $0.01 par value: 450,000,000 shares authorized; 270,627,014 shares issued and 269,295,466 shares outstanding | 2,668 |  |  | — |  |  | — |  |  | — |  |  | 2,668 |
Treasury stock, at cost: 1,331,548 shares | (22,179 | ) |  | — |  |  | — |  |  | — |  |  | (22,179 | )
Additional paid-in-capital | 2,677,217 |  |  | 8,922 |  |  | — |  |  | (8,922 | ) |  | 2,677,217 |
Retained earnings | 719,951 |  |  | 1,379,475 |  |  | 11,639 |  |  | (1,393,080 | ) |  | 717,985 |
Oasis share of stockholders’ equity | 3,377,657 |  |  | 4,653,088 |  |  | 246,574 |  |  | (4,901,628 | ) |  | 3,375,691 |
Non-controlling interests | — |  |  | 137,888 |  |  | 313,446 |  |  | (313,446 | ) |  | 137,888 |
Total stockholders’ equity | 3,377,657 |  |  | 4,790,976 |  |  | 560,020 |  |  | (5,215,074 | ) |  | 3,513,579 |
Total liabilities and stockholders’ equity | $ | 5,400,657 |  |  | $ | 6,460,715 |  |  | $ | 709,906 |  |  | $ | (5,956,148 | ) |  | $ | 6,615,130 |
Condensed Consolidating Balance Sheet
| December 31, 2016
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands, except share data)
ASSETS |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 166 |  |  | $ | 11,060 |  |  | $ | — |  |  | $ | 11,226 |
Accounts receivable, net | — |  |  | 204,335 |  |  | — |  |  | 204,335 |
Accounts receivable - affiliates | 252,000 |  |  | 27,619 |  |  | (279,619 | ) |  | — |
Inventory | — |  |  | 10,648 |  |  | — |  |  | 10,648 |
Prepaid expenses | 275 |  |  | 7,348 |  |  | — |  |  | 7,623 |
Derivative instruments | — |  |  | 362 |  |  | — |  |  | 362 |
Other current assets | — |  |  | 4,355 |  |  | — |  |  | 4,355 |
Total current assets | 252,441 |  |  | 265,727 |  |  | (279,619 | ) |  | 238,549 |
Property, plant and equipment |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 7,296,568 |  |  | — |  |  | 7,296,568 |
Other property and equipment | — |  |  | 618,790 |  |  | — |  |  | 618,790 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (1,995,791 | ) |  | — |  |  | (1,995,791 | )
Total property, plant and equipment, net | — |  |  | 5,919,567 |  |  | — |  |  | 5,919,567 |
Investments in and advances to subsidiaries | 4,451,192 |  |  | — |  |  | (4,451,192 | ) |  | — |
Deferred income taxes | 220,058 |  |  | — |  |  | (220,058 | ) |  | — |
Other assets | — |  |  | 20,516 |  |  | — |  |  | 20,516 |
Total assets | $ | 4,923,691 |  |  | $ | 6,205,810 |  |  | $ | (4,950,869 | ) |  | $ | 6,178,632 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 4,645 |  |  | $ | — |  |  | $ | 4,645 |
Accounts payable - affiliates | 27,619 |  |  | 252,000 |  |  | (279,619 | ) |  | — |
Revenues and production taxes payable | — |  |  | 139,737 |  |  | — |  |  | 139,737 |
Accrued liabilities | 12 |  |  | 119,161 |  |  | — |  |  | 119,173 |
Accrued interest payable | 38,689 |  |  | 315 |  |  | — |  |  | 39,004 |
Derivative instruments | — |  |  | 60,469 |  |  | — |  |  | 60,469 |
Advances from joint interest partners | — |  |  | 7,597 |  |  | — |  |  | 7,597 |
Other current liabilities | — |  |  | 10,490 |  |  | — |  |  | 10,490 |
Total current liabilities | 66,320 |  |  | 594,414 |  |  | (279,619 | ) |  | 381,115 |
Long-term debt | 1,934,214 |  |  | 363,000 |  |  | — |  |  | 2,297,214 |
Deferred income taxes | — |  |  | 733,587 |  |  | (220,058 | ) |  | 513,529 |
Asset retirement obligations | — |  |  | 48,985 |  |  | — |  |  | 48,985 |
Derivative instruments | — |  |  | 11,714 |  |  | — |  |  | 11,714 |
Other liabilities | — |  |  | 2,918 |  |  | — |  |  | 2,918 |
Total liabilities | 2,000,534 |  |  | 1,754,618 |  |  | (499,677 | ) |  | 3,255,475 |
Stockholders’ equity |  |  |  |  |  |  |
Capital contributions from affiliates | — |  |  | 3,388,893 |  |  | (3,388,893 | ) |  | — |
Common stock, $0.01 par value: 450,000,000 shares authorized; 237,201,064 shares issued and 236,344,172 shares outstanding | 2,331 |  |  | — |  |  | — |  |  | 2,331 |
Treasury stock, at cost: 856,892 shares | (15,950 | ) |  | — |  |  | — |  |  | (15,950 | )
Additional paid-in-capital | 2,345,271 |  |  | 8,743 |  |  | (8,743 | ) |  | 2,345,271 |
Retained earnings | 591,505 |  |  | 1,053,556 |  |  | (1,053,556 | ) |  | 591,505 |
Total stockholders’ equity | 2,923,157 |  |  | 4,451,192 |  |  | (4,451,192 | ) |  | 2,923,157 |
Total liabilities and stockholders’ equity | $ | 4,923,691 |  |  | $ | 6,205,810 |  |  | $ | (4,950,869 | ) |  | $ | 6,178,632 |
Schedule of Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations
| Year Ended December 31, 2017
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 1,034,892 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,034,892 |
Purchased oil and gas sales | — |  |  | 87,989 |  |  | — |  |  | — |  |  | 87,989 |
Midstream revenues | — |  |  | 46,649 |  |  | 59,821 |  |  | (33,718 | ) |  | 72,752 |
Well services revenues | — |  |  | 52,791 |  |  | — |  |  | — |  |  | 52,791 |
Total revenues | — |  |  | 1,222,321 |  |  | 59,821 |  |  | (33,718 | ) |  | 1,248,424 |
Operating expenses |  |  |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 189,548 |  |  | — |  |  | (12,414 | ) |  | 177,134 |
Midstream operating expenses | — |  |  | 11,117 |  |  | 15,098 |  |  | (8,626 | ) |  | 17,589 |
Well services operating expenses | — |  |  | 37,228 |  |  | — |  |  | — |  |  | 37,228 |
Marketing, transportation and gathering expenses | — |  |  | 61,571 |  |  | — |  |  | (5,831 | ) |  | 55,740 |
Purchased oil and gas expenses | — |  |  | 89,320 |  |  | — |  |  | — |  |  | 89,320 |
Production taxes | — |  |  | 88,133 |  |  | — |  |  | — |  |  | 88,133 |
Depreciation, depletion and amortization | — |  |  | 528,615 |  |  | 4,626 |  |  | (2,439 | ) |  | 530,802 |
Exploration expenses | — |  |  | 11,600 |  |  | — |  |  | — |  |  | 11,600 |
Impairment | — |  |  | 6,887 |  |  | — |  |  | — |  |  | 6,887 |
General and administrative expenses | 27,616 |  |  | 61,513 |  |  | 5,110 |  |  | (2,442 | ) |  | 91,797 |
Total operating expenses | 27,616 |  |  | 1,085,532 |  |  | 24,834 |  |  | (31,752 | ) |  | 1,106,230 |
Gain on sale of properties | — |  |  | 1,774 |  |  | — |  |  | — |  |  | 1,774 |
Operating income (loss) | (27,616 | ) |  | 138,563 |  |  | 34,987 |  |  | (1,966 | ) |  | 143,968 |
Other income (expense) |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries | 323,953 |  |  | 34,968 |  |  | — |  |  | (358,921 | ) |  | — |
Net loss on derivative instruments | — |  |  | (71,657 | ) |  | — |  |  | — |  |  | (71,657 | )
Interest expense, net of capitalized interest | (131,329 | ) |  | (15,489 | ) |  | (19 | ) |  | — |  |  | (146,837 | )
Other income (expense) | 1 |  |  | (1,333 | ) |  | — |  |  | — |  |  | (1,332 | )
Total other income (expense) | 192,625 |  |  | (53,511 | ) |  | (19 | ) |  | (358,921 | ) |  | (219,826 | )
Income (loss) before income taxes | 165,009 |  |  | 85,052 |  |  | 34,968 |  |  | (360,887 | ) |  | (75,858 | )
Income tax benefit (expense) | (41,213 | ) |  | 244,517 |  |  | — |  |  | — |  |  | 203,304 |
Net income including non-controlling interests | 123,796 |  |  | 329,569 |  |  | 34,968 |  |  | (360,887 | ) |  | 127,446 |
Less: Net income attributable to non-controlling interests | — |  |  | 3,650 |  |  | 23,329 |  |  | (23,329 | ) |  | 3,650 |
Net income attributable to Oasis | $ | 123,796 |  |  | $ | 325,919 |  |  | $ | 11,639 |  |  | $ | (337,558 | ) |  | $ | 123,796 |
Condensed Consolidating Statement of Operations
| Year Ended December 31, 2016
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 625,233 |  |  | $ | — |  |  | $ | 625,233 |
Purchased oil and gas sales | — |  |  | 10,272 |  |  | — |  |  | 10,272 |
Midstream revenues | — |  |  | 35,406 |  |  | — |  |  | 35,406 |
Well services revenues | — |  |  | 33,754 |  |  | — |  |  | 33,754 |
Total revenues | — |  |  | 704,665 |  |  | — |  |  | 704,665 |
Operating expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 135,444 |  |  | — |  |  | 135,444 |
Midstream operating expenses | — |  |  | 9,003 |  |  | — |  |  | 9,003 |
Well services operating expenses | — |  |  | 20,675 |  |  | — |  |  | 20,675 |
Marketing, transportation and gathering expenses | — |  |  | 30,108 |  |  | — |  |  | 30,108 |
Purchased oil and gas expenses | — |  |  | 10,258 |  |  | — |  |  | 10,258 |
Production taxes | — |  |  | 56,565 |  |  | — |  |  | 56,565 |
Depreciation, depletion and amortization | — |  |  | 476,331 |  |  | — |  |  | 476,331 |
Exploration expenses | — |  |  | 1,785 |  |  | — |  |  | 1,785 |
Impairment | — |  |  | 4,684 |  |  | — |  |  | 4,684 |
General and administrative expenses | 25,356 |  |  | 63,986 |  |  | — |  |  | 89,342 |
Total operating expenses | 25,356 |  |  | 808,839 |  |  | — |  |  | 834,195 |
Loss on sale of properties | — |  |  | (1,303 | ) |  | — |  |  | (1,303 | )
Operating loss | (25,356 | ) |  | (105,477 | ) |  | — |  |  | (130,833 | )
Other income (expense) |  |  |  |  |  |  |
Equity in loss of subsidiaries | (140,978 | ) |  | — |  |  | 140,978 |  |  | — |
Net loss on derivative instruments | — |  |  | (105,317 | ) |  | — |  |  | (105,317 | )
Interest expense, net of capitalized interest | (130,356 | ) |  | (9,949 | ) |  | — |  |  | (140,305 | )
Gain on extinguishment of debt | 4,741 |  |  | — |  |  | — |  |  | 4,741 |
Other income | 137 |  |  | 23 |  |  | — |  |  | 160 |
Total other expense | (266,456 | ) |  | (115,243 | ) |  | 140,978 |  |  | (240,721 | )
Loss before income taxes | (291,812 | ) |  | (220,720 | ) |  | 140,978 |  |  | (371,554 | )
Income tax benefit | 48,796 |  |  | 79,742 |  |  | — |  |  | 128,538 |
Net loss | $ | (243,016 | ) |  | $ | (140,978 | ) |  | $ | 140,978 |  |  | $ | (243,016 | )
Condensed Consolidating Statement of Operations
| Year Ended December 31, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 721,672 |  |  | $ | — |  |  | $ | 721,672 |
Midstream revenues | — |  |  | 23,769 |  |  | — |  |  | 23,769 |
Well services revenues | — |  |  | 44,294 |  |  | — |  |  | 44,294 |
Total revenues | — |  |  | 789,735 |  |  | — |  |  | 789,735 |
Operating expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 144,481 |  |  | — |  |  | 144,481 |
Midstream operating expenses | — |  |  | 6,198 |  |  | — |  |  | 6,198 |
Well services operating expenses | — |  |  | 24,782 |  |  | — |  |  | 24,782 |
Marketing, transportation and gathering expenses | — |  |  | 31,610 |  |  | — |  |  | 31,610 |
Production taxes | — |  |  | 69,584 |  |  | — |  |  | 69,584 |
Depreciation, depletion and amortization | — |  |  | 485,322 |  |  | — |  |  | 485,322 |
Exploration expenses | — |  |  | 2,369 |  |  | — |  |  | 2,369 |
Rig termination | — |  |  | 3,895 |  |  | — |  |  | 3,895 |
Impairment | — |  |  | 46,109 |  |  | — |  |  | 46,109 |
General and administrative expenses | 27,930 |  |  | 61,619 |  |  | — |  |  | 89,549 |
Total operating expenses | 27,930 |  |  | 875,969 |  |  | — |  |  | 903,899 |
Operating loss | (27,930 | ) |  | (86,234 | ) |  | — |  |  | (114,164 | )
Other income (expense) |  |  |  |  |  |  |
Equity in earnings of subsidiaries | 69,986 |  |  | — |  |  | (69,986 | ) |  | — |
Net gain on derivative instruments | — |  |  | 210,376 |  |  | — |  |  | 210,376 |
Interest expense, net of capitalized interest | (138,166 | ) |  | (11,482 | ) |  | — |  |  | (149,648 | )
Other income (expense) | 5 |  |  | (2,940 | ) |  | — |  |  | (2,935 | )
Total other income (expense) | (68,175 | ) |  | 195,954 |  |  | (69,986 | ) |  | 57,793 |
Income (loss) before income taxes | (96,105 | ) |  | 109,720 |  |  | (69,986 | ) |  | (56,371 | )
Income tax benefit (expense) | 55,857 |  |  | (39,734 | ) |  | — |  |  | 16,123 |
Net income (loss) | $ | (40,248 | ) |  | $ | 69,986 |  |  | $ | (69,986 | ) |  | $ | (40,248 | )
Schedule of Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows
| Year Ended December 31, 2017
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net income including non-controlling interests | $ | 123,796 |  |  | $ | 329,569 |  |  | $ | 34,968 |  |  | $ | (360,887 | ) |  | $ | 127,446 |
Adjustments to reconcile net income including non-controlling interests to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries | (323,953 | ) |  | (34,968 | ) |  | — |  |  | 358,921 |  |  | — |
Depreciation, depletion and amortization | — |  |  | 528,615 |  |  | 4,626 |  |  | (2,439 | ) |  | 530,802 |
Gain on sale of properties | — |  |  | (1,774 | ) |  | — |  |  | — |  |  | (1,774 | )
Impairment | — |  |  | 6,887 |  |  | — |  |  | — |  |  | 6,887 |
Deferred income taxes | 41,213 |  |  | (244,097 | ) |  | — |  |  | — |  |  | (202,884 | )
Derivative instruments | — |  |  | 71,657 |  |  | — |  |  | — |  |  | 71,657 |
Equity-based compensation expenses | 25,436 |  |  | 1,045 |  |  | 53 |  |  | — |  |  | 26,534 |
Deferred financing costs amortization and other | 15,392 |  |  | 2,794 |  |  | 125 |  |  | — |  |  | 18,311 |
Working capital and other changes: |  |  |  |  |  |  |  |  |
Change in accounts receivable | (173,668 | ) |  | (209,183 | ) |  | (53,623 | ) |  | 277,887 |  |  | (158,587 | )
Change in inventory | — |  |  | (2,501 | ) |  | — |  |  | — |  |  | (2,501 | )
Change in prepaid expenses | 9 |  |  | (98 | ) |  | (749 | ) |  | — |  |  | (838 | )
Change in other current assets | — |  |  | 148 |  |  | — |  |  | — |  |  | 148 |
Change in long-term inventory and other assets | — |  |  | (12,143 | ) |  | — |  |  | — |  |  | (12,143 | )
Change in accounts payable, interest payable and accrued liabilities | 7,074 |  |  | 329,520 |  |  | 56,601 |  |  | (277,887 | ) |  | 115,308 |
Change in other current liabilities | — |  |  | (10,450 | ) |  | — |  |  | — |  |  | (10,450 | )
Change in other liabilities | — |  |  | (40 | ) |  | — |  |  | — |  |  | (40 | )
Net cash provided by (used in) operating activities | (284,701 | ) |  | 754,981 |  |  | 42,001 |  |  | (4,405 | ) |  | 507,876 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (594,945 | ) |  | (52,404 | ) |  | — |  |  | (647,349 | )
Acquisitions | — |  |  | (61,874 | ) |  | (66,679 | ) |  | 66,679 |  |  | (61,874 | )
Proceeds from sale of properties | — |  |  | 72,453 |  |  | — |  |  | (66,679 | ) |  | 5,774 |
Costs related to sale of properties | — |  |  | (366 | ) |  | — |  |  | — |  |  | (366 | )
Derivative settlements | — |  |  | (8,264 | ) |  | — |  |  | — |  |  | (8,264 | )
Advances from joint interest partners | — |  |  | (2,681 | ) |  | — |  |  | — |  |  | (2,681 | )
Net cash used in investing activities | — |  |  | (595,677 | ) |  | (119,083 | ) |  | — |  |  | (714,760 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from Revolving Credit Facilities | — |  |  | 1,084,000 |  |  | 78,000 |  |  | — |  |  | 1,162,000 |
Principal payments on Revolving Credit Facilities | — |  |  | (1,377,000 | ) |  | — |  |  | — |  |  | (1,377,000 | )
Deferred financing costs | — |  |  | (577 | ) |  | (2,137 | ) |  | — |  |  | (2,714 | )
Proceeds from sale of common stock | 302,191 |  |  | — |  |  | — |  |  | — |  |  | 302,191 |
Proceeds from issuance of Oasis Midstream common units, net of offering costs | — |  |  | — |  |  | 134,185 |  |  | — |  |  | 134,185 |
Purchases of treasury stock | (6,229 | ) |  | — |  |  | — |  |  | — |  |  | (6,229 | )
Investment in subsidiaries / capital contributions from parent | (11,194 | ) |  | 138,872 |  |  | (132,083 | ) |  | 4,405 |  |  | — |
Other | (55 | ) |  | — |  |  | — |  |  | — |  |  | (55 | )
Net cash provided by (used in) financing activities | 284,713 |  |  | (154,705 | ) |  | 77,965 |  |  | 4,405 |  |  | 212,378 |
Increase in cash and cash equivalents | 12 |  |  | 4,599 |  |  | 883 |  |  | — |  |  | 5,494 |
Cash and cash equivalents at beginning of period | 166 |  |  | 11,060 |  |  | — |  |  | — |  |  | 11,226 |
Cash and cash equivalents at end of period | $ | 178 |  |  | $ | 15,659 |  |  | $ | 883 |  |  | $ | — |  |  | $ | 16,720 |
Condensed Consolidating Statement of Cash Flows
| Year Ended December 31, 2016
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |
Net loss | $ | (243,016 | ) |  | $ | (140,978 | ) |  | $ | 140,978 |  |  | $ | (243,016 | )
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |  |  |  |  |  |  |
Equity in loss of subsidiaries | 140,978 |  |  | — |  |  | (140,978 | ) |  | — |
Depreciation, depletion and amortization | — |  |  | 476,331 |  |  | — |  |  | 476,331 |
Gain on extinguishment of debt | (4,741 | ) |  | — |  |  | — |  |  | (4,741 | )
Loss on sale of properties | — |  |  | 1,303 |  |  | — |  |  | 1,303 |
Impairment | — |  |  | 4,684 |  |  | — |  |  | 4,684 |
Deferred income taxes | (48,796 | ) |  | (79,742 | ) |  | — |  |  | (128,538 | )
Derivative instruments | — |  |  | 105,317 |  |  | — |  |  | 105,317 |
Equity-based compensation expenses | 23,346 |  |  | 757 |  |  | — |  |  | 24,103 |
Deferred financing costs amortization and other | 9,107 |  |  | 5,227 |  |  | — |  |  | 14,334 |
Working capital and other changes: |  |  |  |  |  |  |
Change in accounts receivable | (250,737 | ) |  | 207,931 |  |  | 30,883 |  |  | (11,923 | )
Change in inventory | — |  |  | 254 |  |  | — |  |  | 254 |
Change in prepaid expenses | 3 |  |  | (298 | ) |  | — |  |  | (295 | )
Change in other current assets | — |  |  | (305 | ) |  | — |  |  | (305 | )
Change in long-term inventory and other assets | 100 |  |  | (251 | ) |  | — |  |  | (151 | )
Change in accounts payable, interest payable and accrued liabilities | (230,518 | ) |  | 247,562 |  |  | (30,883 | ) |  | (13,839 | )
Change in other current liabilities | — |  |  | 4,490 |  |  | — |  |  | 4,490 |
Change in other liabilities | — |  |  | 10 |  |  | — |  |  | 10 |
Net cash provided by (used in) operating activities | (604,274 | ) |  | 832,292 |  |  | — |  |  | 228,018 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | — |  |  | (426,256 | ) |  | — |  |  | (426,256 | )
Acquisitions | — |  |  | (781,522 | ) |  | — |  |  | (781,522 | )
Proceeds from sale of properties | — |  |  | 12,333 |  |  | — |  |  | 12,333 |
Costs related to sale of properties | — |  |  | (310 | ) |  | — |  |  | (310 | )
Derivative settlements | — |  |  | 121,977 |  |  | — |  |  | 121,977 |
Advances from joint interest partners | — |  |  | 2,950 |  |  | — |  |  | 2,950 |
Net cash used in investing activities | — |  |  | (1,070,828 | ) |  | — |  |  | (1,070,828 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from Oasis Credit Facility | — |  |  | 1,407,000 |  |  | — |  |  | 1,407,000 |
Principal payments on Oasis Credit Facility | — |  |  | (1,182,000 | ) |  | — |  |  | (1,182,000 | )
Repurchase of senior unsecured notes | (435,907 | ) |  | — |  |  | — |  |  | (435,907 | )
Proceeds from issuance of senior unsecured convertible notes | 300,000 |  |  | — |  |  | — |  |  | 300,000 |
Deferred financing costs | (8,197 | ) |  | (930 | ) |  | — |  |  | (9,127 | )
Proceeds from sale of common stock | 766,670 |  |  | — |  |  | — |  |  | 766,670 |
Purchases of treasury stock | (2,330 | ) |  | — |  |  | — |  |  | (2,330 | )
Investment in subsidiaries / capital contributions from parent | (16,573 | ) |  | 16,573 |  |  | — |  |  | — |
Net cash provided by financing activities | 603,663 |  |  | 240,643 |  |  | — |  |  | 844,306 |
Increase (decrease) in cash and cash equivalents | (611 | ) |  | 2,107 |  |  | — |  |  | 1,496 |
Cash and cash equivalents at beginning of period | 777 |  |  | 8,953 |  |  | — |  |  | 9,730 |
Cash and cash equivalents at end of period | $ | 166 |  |  | $ | 11,060 |  |  | $ | — |  |  | $ | 11,226 |
Condensed Consolidating Statement of Cash Flows
| Year Ended December 31, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |
Net income (loss) | $ | (40,248 | ) |  | $ | 69,986 |  |  | $ | (69,986 | ) |  | $ | (40,248 | )
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |  |  |  |  |
Equity in earnings of subsidiaries | (69,986 | ) |  | — |  |  | 69,986 |  |  | — |
Depreciation, depletion and amortization | — |  |  | 485,322 |  |  | — |  |  | 485,322 |
Impairment | — |  |  | 46,109 |  |  | — |  |  | 46,109 |
Deferred income taxes | (55,857 | ) |  | 39,743 |  |  | — |  |  | (16,114 | )
Derivative instruments | — |  |  | (210,376 | ) |  | — |  |  | (210,376 | )
Equity-based compensation expenses | 24,762 |  |  | 510 |  |  | — |  |  | 25,272 |
Deferred financing costs amortization and other | 4,964 |  |  | 7,335 |  |  | — |  |  | 12,299 |
Working capital and other changes: |  |  |  |  |  |  |
Change in accounts receivable | (482 | ) |  | (47,553 | ) |  | 156,496 |  |  | 108,461 |
Change in inventory | — |  |  | 6,873 |  |  | — |  |  | 6,873 |
Change in prepaid expenses | 19 |  |  | 1,809 |  |  | — |  |  | 1,828 |
Change in other current assets | — |  |  | 6,489 |  |  | — |  |  | 6,489 |
Change in long-term inventory and other assets | — |  |  | (950 | ) |  | — |  |  | (950 | )
Change in accounts payable, interest payable and accrued liabilities | 156,039 |  |  | (71,160 | ) |  | (156,496 | ) |  | (71,617 | )
Change in other current liabilities | — |  |  | 6,500 |  |  | — |  |  | 6,500 |
Change in other liabilities | — |  |  | (33 | ) |  | — |  |  | (33 | )
Net cash provided by operating activities | 19,211 |  |  | 340,604 |  |  | — |  |  | 359,815 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | — |  |  | (819,847 | ) |  | — |  |  | (819,847 | )
Acquisitions | — |  |  | (28,817 | ) |  | — |  |  | (28,817 | )
Proceeds from sale of properties | — |  |  | 1,075 |  |  | — |  |  | 1,075 |
Derivative settlements | — |  |  | 370,410 |  |  | — |  |  | 370,410 |
Advances from joint interest partners | — |  |  | (1,969 | ) |  | — |  |  | (1,969 | )
Net cash used in investing activities | — |  |  | (479,148 | ) |  | — |  |  | (479,148 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from Oasis Credit Facility | — |  |  | 630,000 |  |  | — |  |  | 630,000 |
Principal payments on Oasis Credit Facility | — |  |  | (992,000 | ) |  | — |  |  | (992,000 | )
Deferred financing costs | (11,045 | ) |  | (3,587 | ) |  | — |  |  | (14,632 | )
Proceeds from sale of common stock | 462,833 |  |  | — |  |  | — |  |  | 462,833 |
Purchases of treasury stock | (2,949 | ) |  | — |  |  | — |  |  | (2,949 | )
Investment in subsidiaries / capital contributions from parent | (468,049 | ) |  | 468,049 |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | (19,210 | ) |  | 102,462 |  |  | — |  |  | 83,252 |
Increase (decrease) in cash and cash equivalents | 1 |  |  | (36,082 | ) |  | — |  |  | (36,081 | )
Cash and cash equivalents at beginning of period | 776 |  |  | 45,035 |  |  | — |  |  | 45,811 |
Cash and cash equivalents at end of period | $ | 777 |  |  | $ | 8,953 |  |  | $ | — |  |  | $ | 9,730 |

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