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Condensed Consolidating Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet
| December 31, 2018
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands, except share data)
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 179 |  |  | $ | 15,362 |  |  | $ | 6,649 |  |  | $ | — |  |  | $ | 22,190 |
Accounts receivable, net | — |  |  | 385,121 |  |  | 2,481 |  |  | — |  |  | 387,602 |
Accounts receivable - affiliates | 643,382 |  |  | 76,127 |  |  | 80,805 |  |  | (800,314 | ) |  | — |
Inventory | — |  |  | 33,106 |  |  | 22 |  |  | — |  |  | 33,128 |
Prepaid expenses | 373 |  |  | 9,206 |  |  | 1,418 |  |  | — |  |  | 10,997 |
Derivative instruments | — |  |  | 99,930 |  |  | — |  |  | — |  |  | 99,930 |
Intangible assets, net | — |  |  | 125 |  |  | — |  |  | — |  |  | 125 |
Other current assets | — |  |  | 183 |  |  | — |  |  | — |  |  | 183 |
Total current assets | 643,934 |  |  | 619,160 |  |  | 91,375 |  |  | (800,314 | ) |  | 554,155 |
Property, plant and equipment |  |  |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 8,923,291 |  |  | — |  |  | (11,102 | ) |  | 8,912,189 |
Other property and equipment | — |  |  | 218,617 |  |  | 933,155 |  |  | — |  |  | 1,151,772 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (2,974,122 | ) |  | (62,730 | ) |  | — |  |  | (3,036,852 | )
Total property, plant and equipment, net | — |  |  | 6,167,786 |  |  | 870,425 |  |  | (11,102 | ) |  | 7,027,109 |
Investments in and advances to subsidiaries | 4,910,111 |  |  | 367,141 |  |  | — |  |  | (5,277,252 | ) |  | — |
Derivative instruments | — |  |  | 6,945 |  |  | — |  |  | — |  |  | 6,945 |
Deferred income taxes | 219,670 |  |  | — |  |  | — |  |  | (219,670 | ) |  | — |
Long-term inventory | — |  |  | 12,260 |  |  | — |  |  | — |  |  | 12,260 |
Other assets | — |  |  | 23,221 |  |  | 2,452 |  |  | — |  |  | 25,673 |
Total assets | $ | 5,773,715 |  |  | $ | 7,196,513 |  |  | $ | 964,252 |  |  | $ | (6,308,338 | ) |  | $ | 7,626,142 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 18,567 |  |  | $ | 1,599 |  |  | $ | — |  |  | $ | 20,166 |
Accounts payable - affiliates | 43,113 |  |  | 724,187 |  |  | 33,014 |  |  | (800,314 | ) |  | — |
Revenues and production taxes payable | — |  |  | 216,114 |  |  | 581 |  |  | — |  |  | 216,695 |
Accrued liabilities | 71 |  |  | 273,923 |  |  | 57,657 |  |  | — |  |  | 331,651 |
Accrued interest payable | 37,096 |  |  | 502 |  |  | 442 |  |  | — |  |  | 38,040 |
Derivative instruments | — |  |  | 84 |  |  | — |  |  | — |  |  | 84 |
Advances from joint interest partners | — |  |  | 5,140 |  |  | — |  |  | — |  |  | 5,140 |
Total current liabilities | 80,280 |  |  | 1,238,517 |  |  | 93,293 |  |  | (800,314 | ) |  | 611,776 |
Long-term debt | 1,949,276 |  |  | 468,000 |  |  | 318,000 |  |  | — |  |  | 2,735,276 |
Deferred income taxes | — |  |  | 519,725 |  |  | — |  |  | (219,670 | ) |  | 300,055 |
Asset retirement obligations | — |  |  | 50,870 |  |  | 1,514 |  |  | — |  |  | 52,384 |
Derivative instruments | — |  |  | 20 |  |  | — |  |  | — |  |  | 20 |
Other liabilities | — |  |  | 7,751 |  |  | — |  |  | — |  |  | 7,751 |
Total liabilities | 2,029,556 |  |  | 2,284,883 |  |  | 412,807 |  |  | (1,019,984 | ) |  | 3,707,262 |
Stockholders’ equity |  |  |  |  |  |  |  |  |
Capital contributions from affiliates | — |  |  | 3,226,837 |  |  | 177,049 |  |  | (3,403,886 | ) |  | — |
Common stock, $0.01 par value: 900,000,000 shares authorized; 320,469,049 shares issued and 318,377,161 shares outstanding | 3,157 |  |  | — |  |  | — |  |  | — |  |  | 3,157 |
Treasury stock, at cost: 2,091,888 shares | (29,025 | ) |  | — |  |  | — |  |  | — |  |  | (29,025 | )
Additional paid-in-capital | 3,078,203 |  |  | 8,295 |  |  | — |  |  | (8,743 | ) |  | 3,077,755 |
Retained earnings | 691,824 |  |  | 1,492,194 |  |  | 61,581 |  |  | (1,562,910 | ) |  | 682,689 |
Oasis share of stockholders’ equity | 3,744,159 |  |  | 4,727,326 |  |  | 238,630 |  |  | (4,975,539 | ) |  | 3,734,576 |
Non-controlling interests | — |  |  | 184,304 |  |  | 312,815 |  |  | (312,815 | ) |  | 184,304 |
Total stockholders’ equity | 3,744,159 |  |  | 4,911,630 |  |  | 551,445 |  |  | (5,288,354 | ) |  | 3,918,880 |
Total liabilities and stockholders’ equity | $ | 5,773,715 |  |  | $ | 7,196,513 |  |  | $ | 964,252 |  |  | $ | (6,308,338 | ) |  | $ | 7,626,142 |
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 | — |  |  | 370,545 |  |  | 834 |  |  | — |  |  | 371,379 |
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 |  |  | 458,714 |  |  | 88,313 |  |  | (557,506 | ) |  | 415,634 |
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 |  |  | $ | 6,468,514 |  |  | $ | 709,906 |  |  | $ | (5,956,148 | ) |  | $ | 6,622,929 |
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 |  |  | 185,245 |  |  | 58,818 |  |  | — |  |  | 244,279 |
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 |  |  | 1,044,821 |  |  | 70,570 |  |  | (557,506 | ) |  | 631,279 |
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 |  |  | 1,677,538 |  |  | 149,886 |  |  | (741,074 | ) |  | 3,109,350 |
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 |  |  | $ | 6,468,514 |  |  | $ | 709,906 |  |  | $ | (5,956,148 | ) |  | $ | 6,622,929 |
Schedule of Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations
| Year Ended December 31, 2018
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 1,590,024 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,590,024 |
Purchased oil and gas sales | — |  |  | 550,363 |  |  | 1,445 |  |  | — |  |  | 551,808 |
Midstream revenues | — |  |  | 3,156 |  |  | 270,178 |  |  | (154,294 | ) |  | 119,040 |
Well services revenues | — |  |  | 61,075 |  |  | — |  |  | — |  |  | 61,075 |
Total revenues | — |  |  | 2,204,618 |  |  | 271,623 |  |  | (154,294 | ) |  | 2,321,947 |
Operating expenses |  |  |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 246,672 |  |  | — |  |  | (52,760 | ) |  | 193,912 |
Midstream operating expenses | — |  |  | 2,636 |  |  | 69,710 |  |  | (40,434 | ) |  | 31,912 |
Well services operating expenses | — |  |  | 41,200 |  |  | — |  |  | — |  |  | 41,200 |
Marketing, transportation and gathering expenses | — |  |  | 131,340 |  |  | — |  |  | (24,147 | ) |  | 107,193 |
Purchased oil and gas expenses | — |  |  | 553,521 |  |  | 846 |  |  | (60 | ) |  | 554,307 |
Production taxes | — |  |  | 133,696 |  |  | — |  |  | — |  |  | 133,696 |
Depreciation, depletion and amortization | — |  |  | 623,354 |  |  | 28,404 |  |  | (15,462 | ) |  | 636,296 |
Exploration expenses | — |  |  | 27,432 |  |  | — |  |  | — |  |  | 27,432 |
Impairment | — |  |  | 384,228 |  |  | — |  |  | — |  |  | 384,228 |
General and administrative expenses | 30,003 |  |  | 79,742 |  |  | 23,897 |  |  | (12,296 | ) |  | 121,346 |
Total operating expenses | 30,003 |  |  | 2,223,821 |  |  | 122,857 |  |  | (145,159 | ) |  | 2,231,522 |
Gain on sale of properties | — |  |  | 28,587 |  |  | — |  |  | — |  |  | 28,587 |
Operating income (loss) | (30,003 | ) |  | 9,384 |  |  | 148,766 |  |  | (9,135 | ) |  | 119,012 |
Other income (expense) |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries | 103,586 |  |  | 146,409 |  |  | — |  |  | (249,995 | ) |  | — |
Net gain on derivative instruments | — |  |  | 28,457 |  |  | — |  |  | — |  |  | 28,457 |
Interest expense, net of capitalized interest | (131,134 | ) |  | (25,608 | ) |  | (2,343 | ) |  | — |  |  | (159,085 | )
Loss on extinguishment of debt | (13,848 | ) |  | — |  |  | — |  |  | — |  |  | (13,848 | )
Other income (expense) | 1 |  |  | 134 |  |  | (14 | ) |  | — |  |  | 121 |
Total other income (expense) | (41,395 | ) |  | 149,392 |  |  | (2,357 | ) |  | (249,995 | ) |  | (144,355 | )
Income (loss) before income taxes | (71,398 | ) |  | 158,776 |  |  | 146,409 |  |  | (259,130 | ) |  | (25,343 | )
Income tax benefit (expense) | 36,102 |  |  | (30,259 | ) |  | — |  |  | — |  |  | 5,843 |
Net income (loss) including non-controlling interests | (35,296 | ) |  | 128,517 |  |  | 146,409 |  |  | (259,130 | ) |  | (19,500 | )
Less: Net income attributable to non-controlling interests | — |  |  | 15,796 |  |  | 96,354 |  |  | (96,354 | ) |  | 15,796 |
Net income (loss) attributable to Oasis | $ | (35,296 | ) |  | $ | 112,721 |  |  | $ | 50,055 |  |  | $ | (162,776 | ) |  | $ | (35,296 | )
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 | $ | — |  |  | $ | 1,034,634 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,034,634 |
Purchased oil and gas sales | — |  |  | 133,542 |  |  | — |  |  | — |  |  | 133,542 |
Midstream revenues | — |  |  | 46,649 |  |  | 59,821 |  |  | (33,718 | ) |  | 72,752 |
Well services revenues | — |  |  | 52,791 |  |  | — |  |  | — |  |  | 52,791 |
Total revenues | — |  |  | 1,267,616 |  |  | 59,821 |  |  | (33,718 | ) |  | 1,293,719 |
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 | — |  |  | 134,615 |  |  | — |  |  | — |  |  | 134,615 |
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 |  |  | 1,130,827 |  |  | 24,834 |  |  | (31,752 | ) |  | 1,151,525 |
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 | )
Schedule of Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows
| Year Ended December 31, 2018
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net income (loss) including non-controlling interests | $ | (35,296 | ) |  | $ | 128,517 |  |  | $ | 146,409 |  |  | $ | (259,130 | ) |  | $ | (19,500 | )
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries | (103,586 | ) |  | (146,409 | ) |  | — |  |  | 249,995 |  |  | — |
Depreciation, depletion and amortization | — |  |  | 623,354 |  |  | 28,404 |  |  | (15,462 | ) |  | 636,296 |
Loss on extinguishment of debt | 13,848 |  |  | — |  |  | — |  |  | — |  |  | 13,848 |
Gain on sale of properties | — |  |  | (28,587 | ) |  | — |  |  | — |  |  | (28,587 | )
Impairment | — |  |  | 384,228 |  |  | — |  |  | — |  |  | 384,228 |
Deferred income taxes | (36,102 | ) |  | 30,236 |  |  | — |  |  | — |  |  | (5,866 | )
Derivative instruments | — |  |  | (28,457 | ) |  | — |  |  | — |  |  | (28,457 | )
Equity-based compensation expenses | 27,456 |  |  | 1,461 |  |  | 356 |  |  | — |  |  | 29,273 |
Deferred financing costs amortization and other | 16,069 |  |  | 13,507 |  |  | (519 | ) |  | — |  |  | 29,057 |
Working capital and other changes: |  |  |  |  |  |  |  |  |
Change in accounts receivable | (217,714 | ) |  | (52,013 | ) |  | 3,411 |  |  | 242,808 |  |  | (23,508 | )
Change in inventory | — |  |  | (14,324 | ) |  | (22 | ) |  | — |  |  | (14,346 | )
Change in prepaid expenses | (106 | ) |  | (1,608 | ) |  | (640 | ) |  | — |  |  | (2,354 | )
Change in other current assets | — |  |  | 10 |  |  | — |  |  | — |  |  | 10 |
Change in long-term inventory and other assets | — |  |  | (144 | ) |  | — |  |  | — |  |  | (144 | )
Change in accounts payable, interest payable and accrued liabilities | 6,886 |  |  | 234,425 |  |  | 27,613 |  |  | (242,808 | ) |  | 26,116 |
Change in other current liabilities | — |  |  | (40 | ) |  | — |  |  | — |  |  | (40 | )
Change in other liabilities | — |  |  | 395 |  |  | — |  |  | — |  |  | 395 |
Net cash provided by (used in) operating activities | (328,545 | ) |  | 1,144,551 |  |  | 205,012 |  |  | (24,597 | ) |  | 996,421 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (872,151 | ) |  | (276,810 | ) |  | — |  |  | (1,148,961 | )
Acquisitions | — |  |  | (581,650 | ) |  | — |  |  | — |  |  | (581,650 | )
Proceeds from sale of properties | — |  |  | 333,229 |  |  | — |  |  | — |  |  | 333,229 |
Costs related to sale of properties | — |  |  | (2,850 | ) |  | — |  |  | — |  |  | (2,850 | )
Derivative settlements | — |  |  | (213,528 | ) |  | — |  |  | — |  |  | (213,528 | )
Advances from joint interest partners | — |  |  | 224 |  |  | — |  |  | — |  |  | 224 |
Net cash used in investing activities | — |  |  | (1,336,726 | ) |  | (276,810 | ) |  | — |  |  | (1,613,536 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from Revolving Credit Facilities | — |  |  | 2,949,000 |  |  | 275,000 |  |  | — |  |  | 3,224,000 |
Principal payments on Revolving Credit Facilities | — |  |  | (2,551,000 | ) |  | (35,000 | ) |  | — |  |  | (2,586,000 | )
Repurchase of senior unsecured notes | (423,340 | ) |  | — |  |  | — |  |  | — |  |  | (423,340 | )
Proceeds from issuance of senior unsecured convertible notes | 400,000 |  |  | — |  |  | — |  |  | — |  |  | 400,000 |
Deferred financing costs | (6,908 | ) |  | (5,988 | ) |  | (966 | ) |  | — |  |  | (13,862 | )
Proceeds from issuance of Oasis Midstream common units, net of offering costs | — |  |  | — |  |  | 44,503 |  |  | — |  |  | 44,503 |
Purchases of treasury stock | (6,846 | ) |  | — |  |  | — |  |  | — |  |  | (6,846 | )
Distributions to non-controlling interests | — |  |  | 114,789 |  |  | (128,903 | ) |  | — |  |  | (14,114 | )
Investment in subsidiaries / capital contributions from parent | 365,602 |  |  | (313,129 | ) |  | (77,070 | ) |  | 24,597 |  |  | — |
Other | 38 |  |  | (1,794 | ) |  | — |  |  | — |  |  | (1,756 | )
Net cash provided by financing activities | 328,546 |  |  | 191,878 |  |  | 77,564 |  |  | 24,597 |  |  | 622,585 |
Increase (decrease) in cash and cash equivalents | 1 |  |  | (297 | ) |  | 5,766 |  |  | — |  |  | 5,470 |
Cash and cash equivalents at beginning of period | 178 |  |  | 15,659 |  |  | 883 |  |  | — |  |  | 16,720 |
Cash and cash equivalents at end of period | $ | 179 |  |  | $ | 15,362 |  |  | $ | 6,649 |  |  | $ | — |  |  | $ | 22,190 |
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 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 | ) |  | (216,982 | ) |  | (53,623 | ) |  | 277,887 |  |  | (166,386 | )
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 |  |  | 337,319 |  |  | 56,601 |  |  | (277,887 | ) |  | 123,107 |
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, net of offering costs | 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, net of offering costs | 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 |

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