Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ 365,151,000 $ (2,533,621,000) $ 67,928,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization 356,556,000 480,631,000 245,936,000
Impairment of evaluated oil and gas properties 0 2,547,241,000 0
Amortization of non-cash debt related items, net 10,124,000 3,901,000 2,907,000
Deferred income tax expense 0 118,607,000 35,301,000
Loss on derivative contracts 522,300,000 27,773,000 62,109,000
Cash received (paid) for commodity derivative settlements, net (395,097,000) 98,870,000 (3,789,000)
(Gain) loss on extinguishment of debt 41,040,000 (170,370,000) 4,881,000
Non-cash expense related to share-based awards 12,923,000 2,663,000 11,391,000
Other, net 11,037,000 7,087,000 (1,515,000)
Changes in current assets and liabilities:      
Accounts receivable (86,402,000) 75,770,000 (35,071,000)
Other current assets (10,399,000) (6,550,000) (4,166,000)
Accounts payable and accrued liabilities 146,910,000 (92,227,000) 82,290,000
Other, net 0 0 8,114,000
Net cash provided by operating activities 974,143,000 559,775,000 476,316,000
Cash flows from investing activities:      
Capital expenditures (578,487,000) (664,231,000) (640,540,000)
Acquisition of oil and gas properties (493,732,000) (12,923,000) (42,266,000)
Proceeds from sales of assets 188,101,000 178,970,000 294,417,000
Cash paid for settlements of contingent consideration arrangements, net 0 (40,000,000) 0
Other, net 7,718,000 8,301,000 0
Net cash used in investing activities (876,400,000) (529,883,000) (388,389,000)
Cash flows from financing activities:      
Borrowings on Credit Facility 2,140,500,000 5,353,000,000 2,455,900,000
Payments on Credit Facility (2,340,500,000) (5,653,000,000) (895,500,000)
Issuance of 8.00% Senior Notes due 2028 650,000,000 0 0
Redemption of 6.25% Senior Notes 542,755,000 0 0
Issuance of 9.00% Second Lien Senior Secured Notes due 2025 0 300,000,000 0
Discount on the issuance of 9.00% Second Lien Senior Secured Notes due 2025 0 (35,270,000) 0
Issuance of September 2020 Warrants 0 23,909,000 0
Payment to terminate Prior Credit Facility 0 0 (475,400,000)
Repayment of Carrizo’s senior secured revolving credit facility 0 0 (853,549,000)
Redemption of preferred stock 0 0 (73,017,000)
Payment of preferred stock dividends 0 0 (3,997,000)
Payment of deferred financing and debt exchange costs (12,672,000) (10,811,000) (22,480,000)
Tax withholdings related to restricted stock units (2,280,000) (509,000) (2,195,000)
Other, net (390,000) (316,000) 0
Net cash used in financing activities (108,097,000) (22,997,000) (90,637,000)
Net change in cash and cash equivalents (10,354,000) 6,895,000 (2,710,000)
Balance, beginning of period 20,236,000 13,341,000 16,051,000
Balance, end of period 9,882,000 20,236,000 13,341,000
Carrizo      
Cash flows from financing activities:      
Redemption of preferred stock $ 0 $ 0 $ (220,399,000)