XML 53 R41.htm IDEA: XBRL DOCUMENT
v3.19.1

Condensed Consolidating Financial Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet
| March 31, 2019
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands, except share data)
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 144 |  |  | $ | 10,039 |  |  | $ | 5,259 |  |  | $ | — |  |  | $ | 15,442 |
Accounts receivable, net | — |  |  | 453,220 |  |  | 3,419 |  |  | — |  |  | 456,639 |
Accounts receivable - affiliates | 597,551 |  |  | 80,273 |  |  | 79,659 |  |  | (757,483 | ) |  | — |
Inventory | — |  |  | 35,997 |  |  | 272 |  |  | — |  |  | 36,269 |
Prepaid expenses | 503 |  |  | 6,535 |  |  | 1,366 |  |  | — |  |  | 8,404 |
Derivative instruments | — |  |  | 4,467 |  |  | — |  |  | — |  |  | 4,467 |
Other current assets | — |  |  | 309 |  |  | — |  |  | — |  |  | 309 |
Total current assets | 598,198 |  |  | 590,840 |  |  | 89,975 |  |  | (757,483 | ) |  | 521,530 |
Property, plant and equipment |  |  |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 9,085,886 |  |  | — |  |  | (12,801 | ) |  | 9,073,085 |
Other property and equipment | — |  |  | 233,131 |  |  | 983,632 |  |  | — |  |  | 1,216,763 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (3,161,469 | ) |  | (71,637 | ) |  | — |  |  | (3,233,106 | )
Total property, plant and equipment, net | — |  |  | 6,157,548 |  |  | 911,995 |  |  | (12,801 | ) |  | 7,056,742 |
Investments in and advances to subsidiaries | 4,824,586 |  |  | 373,669 |  |  | — |  |  | (5,198,255 | ) |  | — |
Derivative instruments | — |  |  | 181 |  |  | — |  |  | — |  |  | 181 |
Deferred income taxes | 236,242 |  |  | — |  |  | — |  |  | (236,242 | ) |  | — |
Long-term inventory | — |  |  | 13,767 |  |  | — |  |  | — |  |  | 13,767 |
Operating right-of-use assets | — |  |  | 21,639 |  |  | 3,102 |  |  | — |  |  | 24,741 |
Other assets | — |  |  | 26,705 |  |  | 2,680 |  |  | — |  |  | 29,385 |
Total assets | $ | 5,659,026 |  |  | $ | 7,184,349 |  |  | $ | 1,007,752 |  |  | $ | (6,204,781 | ) |  | $ | 7,646,346 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 10,024 |  |  | $ | 148 |  |  | $ | — |  |  | $ | 10,172 |
Accounts payable - affiliates | 47,402 |  |  | 677,210 |  |  | 32,871 |  |  | (757,483 | ) |  | — |
Revenues and production taxes payable | — |  |  | 249,160 |  |  | 409 |  |  | — |  |  | 249,569 |
Accrued liabilities | 211 |  |  | 274,910 |  |  | 63,698 |  |  | — |  |  | 338,819 |
Accrued interest payable | 20,758 |  |  | 549 |  |  | 624 |  |  | — |  |  | 21,931 |
Derivative instruments | — |  |  | 27,663 |  |  | — |  |  | — |  |  | 27,663 |
Advances from joint interest partners | — |  |  | 5,072 |  |  | — |  |  | — |  |  | 5,072 |
Current operating lease liabilities | — |  |  | 10,796 |  |  | 2,339 |  |  | — |  |  | 13,135 |
Other current liabilities | — |  |  | 2,469 |  |  | 16 |  |  | — |  |  | 2,485 |
Total current liabilities | 68,371 |  |  | 1,257,853 |  |  | 100,105 |  |  | (757,483 | ) |  | 668,846 |
Long-term debt | 1,953,333 |  |  | 493,000 |  |  | 345,000 |  |  | — |  |  | 2,791,333 |
Deferred income taxes | — |  |  | 532,750 |  |  | — |  |  | (236,242 | ) |  | 296,508 |
Asset retirement obligations | — |  |  | 51,871 |  |  | 1,533 |  |  | — |  |  | 53,404 |
Derivative instruments | — |  |  | 1,271 |  |  | — |  |  | — |  |  | 1,271 |
Operating lease liabilities | — |  |  | 16,825 |  |  | 785 |  |  | — |  |  | 17,610 |
Other liabilities | — |  |  | 5,928 |  |  | 311 |  |  | — |  |  | 6,239 |
Total liabilities | 2,021,704 |  |  | 2,359,498 |  |  | 447,734 |  |  | (993,725 | ) |  | 3,835,211 |
Stockholders’ equity |  |  |  |  |  |  |  |  |
Capital contributions from affiliates | — |  |  | 3,225,865 |  |  | 164,887 |  |  | (3,390,752 | ) |  | — |
Common stock, $0.01 par value: 900,000,000 shares authorized; 324,829,258 shares issued and 322,051,268 shares outstanding | 3,182 |  |  | — |  |  | — |  |  | — |  |  | 3,182 |
Treasury stock, at cost: 2,777,990 shares | (33,286 | ) |  | — |  |  | — |  |  | — |  |  | (33,286 | )
Additional paid-in-capital | 3,087,592 |  |  | 8,234 |  |  | — |  |  | (8,743 | ) |  | 3,087,083 |
Retained earnings | 579,834 |  |  | 1,404,403 |  |  | 82,887 |  |  | (1,499,317 | ) |  | 567,807 |
Oasis share of stockholders’ equity | 3,637,322 |  |  | 4,638,502 |  |  | 247,774 |  |  | (4,898,812 | ) |  | 3,624,786 |
Non-controlling interests | — |  |  | 186,349 |  |  | 312,244 |  |  | (312,244 | ) |  | 186,349 |
Total stockholders’ equity | 3,637,322 |  |  | 4,824,851 |  |  | 560,018 |  |  | (5,211,056 | ) |  | 3,811,135 |
Total liabilities and stockholders’ equity | $ | 5,659,026 |  |  | $ | 7,184,349 |  |  | $ | 1,007,752 |  |  | $ | (6,204,781 | ) |  | $ | 7,646,346 |
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 Statement of Operations | Condensed Consolidating Statement of Operations
| Three Months Ended March 31, 2019
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 368,782 |  |  | $ | — |  |  | $ | — |  |  | $ | 368,782 |
Purchased oil and gas sales | — |  |  | 148,471 |  |  | — |  |  | — |  |  | 148,471 |
Midstream revenues | — |  |  | 3,070 |  |  | 91,651 |  |  | (46,700 | ) |  | 48,021 |
Well services revenues | — |  |  | 10,458 |  |  | — |  |  | — |  |  | 10,458 |
Total revenues | — |  |  | 530,781 |  |  | 91,651 |  |  | (46,700 | ) |  | 575,732 |
Operating expenses |  |  |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 71,785 |  |  | — |  |  | (13,341 | ) |  | 58,444 |
Midstream expenses | — |  |  | 1,848 |  |  | 26,915 |  |  | (12,034 | ) |  | 16,729 |
Well services expenses | — |  |  | 6,970 |  |  | — |  |  | — |  |  | 6,970 |
Marketing, transportation and gathering expenses | — |  |  | 45,237 |  |  | — |  |  | (10,287 | ) |  | 34,950 |
Purchased oil and gas expenses | — |  |  | 149,904 |  |  | — |  |  | — |  |  | 149,904 |
Production taxes | — |  |  | 29,618 |  |  | — |  |  | — |  |  | 29,618 |
Depreciation, depletion and amortization | — |  |  | 186,069 |  |  | 8,929 |  |  | (5,165 | ) |  | 189,833 |
Exploration expenses | — |  |  | 830 |  |  | — |  |  | — |  |  | 830 |
Impairment | — |  |  | 629 |  |  | — |  |  | — |  |  | 629 |
General and administrative expenses | 9,087 |  |  | 20,825 |  |  | 8,720 |  |  | (4,173 | ) |  | 34,459 |
Total operating expenses | 9,087 |  |  | 513,715 |  |  | 44,564 |  |  | (45,000 | ) |  | 522,366 |
Loss on sale of properties | — |  |  | (2,922 | ) |  | — |  |  | — |  |  | (2,922 | )
Operating income (loss) | (9,087 | ) |  | 14,144 |  |  | 47,087 |  |  | (1,700 | ) |  | 50,444 |
Other income (expense) |  |  |  |  |  |  |  |  |
Equity in earnings (loss) of subsidiaries | (89,492 | ) |  | 43,339 |  |  | — |  |  | 46,153 |  |  | — |
Net loss on derivative instruments | — |  |  | (117,611 | ) |  | — |  |  | — |  |  | (117,611 | )
Interest expense, net of capitalized interest | (32,876 | ) |  | (7,844 | ) |  | (3,748 | ) |  | — |  |  | (44,468 | )
Other expense | — |  |  | (46 | ) |  | — |  |  | — |  |  | (46 | )
Total other expense | (122,368 | ) |  | (82,162 | ) |  | (3,748 | ) |  | 46,153 |  |  | (162,125 | )
Income (loss) before income taxes | (131,455 | ) |  | (68,018 | ) |  | 43,339 |  |  | 44,453 |  |  | (111,681 | )
Income tax benefit (expense) | 16,573 |  |  | (12,870 | ) |  | — |  |  | — |  |  | 3,703 |
Net income (loss) including non-controlling interests | (114,882 | ) |  | (80,888 | ) |  | 43,339 |  |  | 44,453 |  |  | (107,978 | )
Less: Net income attributable to non-controlling interests | — |  |  | 6,904 |  |  | 21,796 |  |  | (21,796 | ) |  | 6,904 |
Net income (loss) attributable to Oasis | $ | (114,882 | ) |  | $ | (87,792 | ) |  | $ | 21,543 |  |  | $ | 66,249 |  |  | $ | (114,882 | )
Condensed Consolidating Statement of Operations
| Three Months Ended March 31, 2018
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 366,595 |  |  | $ | — |  |  | $ | — |  |  | $ | 366,595 |
Purchased oil and gas sales | — |  |  | 67,709 |  |  | — |  |  | — |  |  | 67,709 |
Midstream revenues | — |  |  | 1,150 |  |  | 61,421 |  |  | (34,649 | ) |  | 27,922 |
Well services revenues | — |  |  | 11,586 |  |  | — |  |  | — |  |  | 11,586 |
Total revenues | — |  |  | 447,040 |  |  | 61,421 |  |  | (34,649 | ) |  | 473,812 |
Operating expenses |  |  |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 55,699 |  |  | — |  |  | (10,918 | ) |  | 44,781 |
Midstream expenses | — |  |  | 746 |  |  | 17,116 |  |  | (9,877 | ) |  | 7,985 |
Well services expenses | — |  |  | 7,387 |  |  | — |  |  | — |  |  | 7,387 |
Marketing, transportation and gathering expenses | — |  |  | 26,672 |  |  | — |  |  | (5,659 | ) |  | 21,013 |
Purchased oil and gas expenses | — |  |  | 70,594 |  |  | — |  |  | — |  |  | 70,594 |
Production taxes | — |  |  | 31,000 |  |  | — |  |  | — |  |  | 31,000 |
Depreciation, depletion and amortization | — |  |  | 146,227 |  |  | 6,364 |  |  | (3,326 | ) |  | 149,265 |
Exploration expenses | — |  |  | 769 |  |  | — |  |  | — |  |  | 769 |
Impairment | — |  |  | 93 |  |  | — |  |  | — |  |  | 93 |
General and administrative expenses | 7,232 |  |  | 17,678 |  |  | 6,150 |  |  | (3,120 | ) |  | 27,940 |
Total operating expenses | 7,232 |  |  | 356,865 |  |  | 29,630 |  |  | (32,900 | ) |  | 360,827 |
Operating income (loss) | (7,232 | ) |  | 90,175 |  |  | 31,791 |  |  | (1,749 | ) |  | 112,985 |
Other income (expense) |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries | 32,164 |  |  | 31,529 |  |  | — |  |  | (63,693 | ) |  | — |
Net loss on derivative instruments | — |  |  | (71,116 | ) |  | — |  |  | — |  |  | (71,116 | )
Interest expense, net of capitalized interest | (32,446 | ) |  | (4,438 | ) |  | (262 | ) |  | — |  |  | (37,146 | )
Other expense | — |  |  | (183 | ) |  | — |  |  | — |  |  | (183 | )
Total other expense | (282 | ) |  | (44,208 | ) |  | (262 | ) |  | (63,693 | ) |  | (108,445 | )
Income (loss) before income taxes | (7,514 | ) |  | 45,967 |  |  | 31,529 |  |  | (65,442 | ) |  | 4,540 |
Income tax benefit (expense) | 8,104 |  |  | (8,932 | ) |  | — |  |  | — |  |  | (828 | )
Net income including non-controlling interests | 590 |  |  | 37,035 |  |  | 31,529 |  |  | (65,442 | ) |  | 3,712 |
Less: Net income attributable to non-controlling interests | — |  |  | 3,122 |  |  | 21,574 |  |  | (21,574 | ) |  | 3,122 |
Net income attributable to Oasis | $ | 590 |  |  | $ | 33,913 |  |  | $ | 9,955 |  |  | $ | (43,868 | ) |  | $ | 590 |
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows
| Three Months Ended March 31, 2019
| 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 | $ | (114,882 | ) |  | $ | (80,888 | ) |  | $ | 43,339 |  |  | $ | 44,453 |  |  | $ | (107,978 | )
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by operating activities: |  |  |  |  |  |  |  |  |
Equity in earnings (loss) of subsidiaries | 89,492 |  |  | (43,339 | ) |  | — |  |  | (46,153 | ) |  | — |
Depreciation, depletion and amortization | — |  |  | 186,069 |  |  | 8,929 |  |  | (5,165 | ) |  | 189,833 |
Loss on sale of properties | — |  |  | 2,922 |  |  | — |  |  | — |  |  | 2,922 |
Impairment | — |  |  | 629 |  |  | — |  |  | — |  |  | 629 |
Deferred income taxes | (16,573 | ) |  | 13,026 |  |  | — |  |  | — |  |  | (3,547 | )
Derivative instruments | — |  |  | 117,611 |  |  | — |  |  | — |  |  | 117,611 |
Equity-based compensation expenses | 8,339 |  |  | 555 |  |  | 119 |  |  | — |  |  | 9,013 |
Deferred financing costs amortization and other | 4,058 |  |  | 2,681 |  |  | 191 |  |  | — |  |  | 6,930 |
Working capital and other changes: |  |  |  |  |  |  |  |  |
Change in accounts receivable, net | 45,831 |  |  | (74,291 | ) |  | 208 |  |  | (42,831 | ) |  | (71,083 | )
Change in inventory | — |  |  | (3,184 | ) |  | — |  |  | — |  |  | (3,184 | )
Change in prepaid expenses | (130 | ) |  | 1,583 |  |  | 52 |  |  | — |  |  | 1,505 |
Change in accounts payable, interest payable and accrued liabilities | (11,909 | ) |  | 2,306 |  |  | 3,438 |  |  | 42,831 |  |  | 36,666 |
Change in other assets and liabilities, net | — |  |  | (4,165 | ) |  | (226 | ) |  | — |  |  | (4,391 | )
Net cash provided by operating activities | 4,226 |  |  | 121,515 |  |  | 56,050 |  |  | (6,865 | ) |  | 174,926 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (187,990 | ) |  | (49,458 | ) |  | — |  |  | (237,448 | )
Derivative settlements | — |  |  | 13,446 |  |  | — |  |  | — |  |  | 13,446 |
Net cash used in investing activities | — |  |  | (174,544 | ) |  | (49,458 | ) |  | — |  |  | (224,002 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from Revolving Credit Facilities | — |  |  | 388,000 |  |  | 32,000 |  |  | — |  |  | 420,000 |
Principal payments on Revolving Credit Facilities | — |  |  | (363,000 | ) |  | (5,000 | ) |  | — |  |  | (368,000 | )
Deferred financing costs | — |  |  | — |  |  | (43 | ) |  | — |  |  | (43 | )
Purchases of treasury stock | (4,261 | ) |  | — |  |  | — |  |  | — |  |  | (4,261 | )
Distributions to non-controlling interests | — |  |  | 16,985 |  |  | (21,922 | ) |  | — |  |  | (4,937 | )
Investment in subsidiaries / capital contributions from parent | — |  |  | 5,923 |  |  | (12,788 | ) |  | 6,865 |  |  | — |
Other | — |  |  | (202 | ) |  | (229 | ) |  | — |  |  | (431 | )
Net cash provided by (used in) financing activities | (4,261 | ) |  | 47,706 |  |  | (7,982 | ) |  | 6,865 |  |  | 42,328 |
Decrease in cash and cash equivalents | (35 | ) |  | (5,323 | ) |  | (1,390 | ) |  | — |  |  | (6,748 | )
Cash and cash equivalents at beginning of period | 179 |  |  | 15,362 |  |  | 6,649 |  |  | — |  |  | 22,190 |
Cash and cash equivalents at end of period | $ | 144 |  |  | $ | 10,039 |  |  | $ | 5,259 |  |  | $ | — |  |  | $ | 15,442 |
Condensed Consolidating Statement of Cash Flows
| Three Months Ended March 31, 2018
| 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 | $ | 590 |  |  | $ | 37,035 |  |  | $ | 31,529 |  |  | $ | (65,442 | ) |  | $ | 3,712 |
Adjustments to reconcile net income including non-controlling interests to net cash provided by operating activities: |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries | (32,164 | ) |  | (31,529 | ) |  | — |  |  | 63,693 |  |  | — |
Depreciation, depletion and amortization | — |  |  | 146,227 |  |  | 6,364 |  |  | (3,326 | ) |  | 149,265 |
Impairment | — |  |  | 93 |  |  | — |  |  | — |  |  | 93 |
Deferred income taxes | (8,104 | ) |  | 8,932 |  |  | — |  |  | — |  |  | 828 |
Derivative instruments | — |  |  | 71,116 |  |  | — |  |  | — |  |  | 71,116 |
Equity-based compensation expenses | 6,418 |  |  | 273 |  |  | 63 |  |  | — |  |  | 6,754 |
Deferred financing costs amortization and other | 3,929 |  |  | 1,432 |  |  | 114 |  |  | — |  |  | 5,475 |
Working capital and other changes: |  |  |  |  |  |  |  |  |
Change in accounts receivable, net | 51,714 |  |  | (23,888 | ) |  | 36,992 |  |  | (70,526 | ) |  | (5,708 | )
Change in inventory | — |  |  | (3,672 | ) |  | — |  |  | — |  |  | (3,672 | )
Change in prepaid expenses | (180 | ) |  | 641 |  |  | 31 |  |  | — |  |  | 492 |
Change in accounts payable, interest payable and accrued liabilities | (12,832 | ) |  | (66,000 | ) |  | 8,062 |  |  | 70,526 |  |  | (244 | )
Change in other assets and liabilities, net | — |  |  | 248 |  |  | — |  |  | — |  |  | 248 |
Net cash provided by operating activities | 9,371 |  |  | 140,908 |  |  | 83,155 |  |  | (5,075 | ) |  | 228,359 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (169,994 | ) |  | (84,844 | ) |  | — |  |  | (254,838 | )
Acquisitions | — |  |  | (520,728 | ) |  | — |  |  | — |  |  | (520,728 | )
Derivative settlements | — |  |  | (36,974 | ) |  | — |  |  | — |  |  | (36,974 | )
Other | — |  |  | (28 | ) |  | — |  |  | — |  |  | (28 | )
Net cash used in investing activities | — |  |  | (727,724 | ) |  | (84,844 | ) |  | — |  |  | (812,568 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from Revolving Credit Facilities | — |  |  | 1,413,000 |  |  | 57,000 |  |  | — |  |  | 1,470,000 |
Principal payments on Revolving Credit Facilities | — |  |  | (857,000 | ) |  | (18,000 | ) |  | — |  |  | (875,000 | )
Deferred financing costs | — |  |  | (215 | ) |  | — |  |  | — |  |  | (215 | )
Purchases of treasury stock | (6,021 | ) |  | — |  |  | — |  |  | — |  |  | (6,021 | )
Distributions to non-controlling interests | — |  |  | 34,866 |  |  | (38,316 | ) |  | — |  |  | (3,450 | )
Investment in subsidiaries / capital contributions from parent | (3,259 | ) |  | (5,986 | ) |  | 4,170 |  |  | 5,075 |  |  | — |
Other | (90 | ) |  | — |  |  | — |  |  | — |  |  | (90 | )
Net cash provided by (used in) financing activities | (9,370 | ) |  | 584,665 |  |  | 4,854 |  |  | 5,075 |  |  | 585,224 |
Increase (decrease) in cash and cash equivalents | 1 |  |  | (2,151 | ) |  | 3,165 |  |  | — |  |  | 1,015 |
Cash and cash equivalents at beginning of period | 178 |  |  | 15,659 |  |  | 883 |  |  | — |  |  | 16,720 |
Cash and cash equivalents at end of period | $ | 179 |  |  | $ | 13,508 |  |  | $ | 4,048 |  |  | $ | — |  |  | $ | 17,735 |

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration