XML 48 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
COMBINED AND CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ (432,227) $ (216,124) $ 46,709
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization 312,787 372,300 311,185
Impairment of oil and natural gas properties 0 247,215 0
Deferred income taxes (benefit) (935) 0 0
Gain on sale of oil and natural gas properties (8,794) 0 (22)
(Gain) loss on derivatives 866,020 (195,284) 127,202
Net cash (paid) received on settlement of derivatives (535,269) 186,495 (22,743)
Non-cash equity-based compensation expense 39,919 (797) (2,721)
Amortization of debt issuance costs and discount 7,647 4,941 4,730
Write-off of debt issuance costs 2,541 0 0
Write-off of other long-term assets and other (928) (29) 3,909
Changes in operating assets and liabilities:      
Accounts receivable (71,301) 14,652 24,104
Accounts receivable – affiliates (20,333) 0 0
Prepaid and other current assets 39,986 17,886 (1,088)
Accounts payable and accrued liabilities 31,110 (15,138) (5,514)
Accounts payable – affiliates (358) 657 27
Other 3,282 (5,746) (263)
Net cash provided by operating activities 233,147 411,028 485,515
Cash flows from investing activities:      
Development of oil and natural gas properties (155,607) (126,164) (338,646)
Acquisitions of oil and natural gas properties, net of cash acquired (115,076) 0 0
Proceeds from the sale of oil and natural gas properties 25,723 9,362 15,798
Purchases of restricted investment securities – HTM (8,537) (9,071) (5,412)
Maturities of restricted investment securities – HTM 11,703 9,052 5,414
Due from related party and other (2,801) (8,119) (5,312)
Net cash used in investing activities (244,595) (124,940) (328,158)
Cash flows from financing activities:      
Proceeds from issuance of the Senior Notes, net of discount 490,625 0 0
Payment of debt issuance costs (14,611) (3,333) (1,619)
Repayments of debt acquired in Merger Transactions (140,000) 0 0
Member contributions 110 5,186 0
Noncontrolling interest contributions 35,460 0 250
Repurchase of noncontrolling interest (2,462) 0 0
Member distributions (35,331) (61,422) (124,837)
Noncontrolling interest distributions (1,695) (1,145) (17,901)
Cash paid for treasury stock acquired for equity-based compensation tax withholding (18,448) 0 0
Due to related party and other (428) 9,650 2,515
Net cash provided by (used in) financing activities 105,145 (272,089) (153,192)
Net change in cash, cash equivalents and restricted cash 93,697 13,999 4,165
Cash, cash equivalents and restricted cash, beginning of period 41,420 27,421 23,256
Cash, cash equivalents, and restricted cash, end of period 135,117 41,420 27,421
Prior Credit Agreement      
Cash flows from financing activities:      
Borrowings 53,900 275,850 553,300
Repayments (804,975) (496,875) (564,900)
New Credit Agreement      
Cash flows from financing activities:      
Borrowings 702,000 0 0
Repayments $ (159,000) $ 0 $ 0