v3.22.1
CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities    
Net Income (Loss) $ (206,560) $ (90,357)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities:    
Depletion, Depreciation, Amortization and Accretion 53,185 31,221
Amortization of Debt Issuance Costs 1,078 1,014
Loss on Extinguishment of Debt 0 12,594
Amortization of Bond Premium on Long-term Debt (531) (122)
Deferred Income Taxes 789 0
Unrealized (Gain) Loss of Derivative Instruments 382,937 128,398
Loss on Contingent Consideration 0 125
Stock-Based Compensation Expense 1,447 769
Other 2,675 61
Changes in Working Capital and Other Items:    
Accounts Receivable, Net (102,033) (23,694)
Prepaid and Other Expenses (698) (1,037)
Accounts Payable 33,243 5,057
Accrued Interest (14,488) (2,588)
Accrued Liabilities and Expenses 2,991 1,447
Net Cash Provided by Operating Activities 154,034 62,766
Cash Flows from Investing Activities    
Drilling and Development Capital Expenditures (55,941) (33,331)
Acquisition of Oil and Natural Gas Properties (361,541) (1,790)
Acquisition Deposit 0 (17,500)
Purchases of Other Property and Equipment (117) (51)
Net Cash Used for Investing Activities (417,599) (52,672)
Cash Flows from Financing Activities    
Advances on Revolving Credit Facility 434,000 109,000
Repayments on Revolving Credit Facility (118,000) (378,000)
Repurchases of Second Lien Notes due 2023 0 (280,249)
Repayment of Unsecured VEN Bakken Note due 2022 0 (130,000)
Debt Issuance Costs Paid (13) (11,607)
Issuance of Common Stock 0 132,900
Issuance of Unsecured Notes due 2028 0 550,000
Repurchases of Preferred Stock (50,225) 0
Restricted Stock Surrenders - Tax Obligations (2,206) (837)
Common Dividends Paid (6,176) 0
Net Cash Provided (Used) for Financing Activities 257,380 (8,793)
Net Increase (Decrease) in Cash and Cash Equivalents (6,185) 1,301
Cash and Cash Equivalents - Beginning of Period 9,519 1,428
Cash and Cash Equivalents - End of Period $ 3,335 $ 2,729

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