Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income (loss) $ (2,533,621,000) $ 67,928,000 $ 300,360,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization 480,631,000 245,936,000 185,605,000
Impairment of evaluated oil and gas properties 2,547,241,000 0 0
Amortization of non-cash debt related items 3,901,000 2,907,000 2,483,000
Deferred income tax expense 118,607,000 35,301,000 8,110,000
(Gain) loss on derivative contracts 27,773,000 62,109,000 (48,544,000)
Cash received (paid) for commodity derivative settlements, net 98,870,000 (3,789,000) (27,272,000)
(Gain) loss on early extinguishment of debt (170,370,000) 4,881,000 0
Non-cash expense related to equity share-based awards 6,773,000 9,767,000 6,289,000
Change in the fair value of liability share-based awards (4,110,000) 1,624,000 375,000
Payments for cash-settled restricted stock unit awards (770,000) (1,425,000) (4,990,000)
Other, net 7,857,000 (90,000) (144,000)
Changes in current assets and liabilities:      
Accounts receivable 75,770,000 (35,071,000) (17,351,000)
Other current assets (6,550,000) (4,166,000) (7,601,000)
Accounts payable and accrued liabilities (92,227,000) 82,290,000 72,842,000
Other 0 8,114,000 (2,508,000)
Net cash provided by operating activities 559,775,000 476,316,000 467,654,000
Cash flows from investing activities:      
Capital expenditures (677,154,000) (640,540,000) (611,173,000)
Acquisitions 0 (42,266,000) (718,793,000)
Proceeds from sales of assets 178,970,000 294,417,000 9,009,000
Cash paid for settlements of contingent consideration arrangements, net (40,000,000) 0 0
Other, net 8,301,000 0 (3,100,000)
Net cash used in investing activities (529,883,000) (388,389,000) (1,324,057,000)
Cash flows from financing activities:      
Borrowings on Credit Facility 5,353,000,000 2,455,900,000 500,000,000
Payments on Credit Facility (5,653,000,000) (895,500,000) (325,000,000)
Payment to terminate Prior Credit Facility 0 (475,400,000) 0
Repayment of Carrizo’s senior secured revolving credit facility 0 (853,549,000) 0
Redemption of preferred stock 0 (73,017,000) 0
Discount on the issuance of 9.00% Second Lien Senior Secured Notes due 2025 (35,270,000) 0 0
Issuance of September 2020 Warrants 23,909,000 0 0
Issuance of common stock 0 0 287,988,000
Payment of preferred stock dividends 0 (3,997,000) (7,295,000)
Payment of deferred financing and debt exchange costs (10,811,000) (22,480,000) (9,430,000)
Tax withholdings related to restricted stock units (509,000) (2,195,000) (1,804,000)
Other, net (316,000) 0 0
Net cash provided by (used in) financing activities (22,997,000) (90,637,000) 844,459,000
Net change in cash and cash equivalents 6,895,000 (2,710,000) (11,944,000)
Balance, beginning of period 13,341,000 16,051,000 27,995,000
Balance, end of period 20,236,000 13,341,000 16,051,000
9.00% Second Lien Senior Secured Notes due 2025      
Cash flows from financing activities:      
Issuance of senior unsecured notes 300,000,000 0 0
6.375% Senior Notes due 2026      
Cash flows from financing activities:      
Issuance of senior unsecured notes 0 0 400,000,000
Carrizo      
Cash flows from financing activities:      
Redemption of preferred stock $ 0 $ (220,399,000) $ 0