v3.22.1
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 12,164 $ 9,869
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Loss from discontinued operations, net of tax 12 19
Depreciation, depletion and amortization 4,673 4,148
Bargain purchase gain   (7,651)
Deferred taxes (10,318) 1,809
Unrealized foreign exchange loss (gain) 116 (400)
Stock-based compensation 1,422 1,559
Cash settlements paid on exercised stock appreciation rights (205) (852)
Derivative instruments loss, net 31,758 5,954
Cash settlements paid on matured derivative contracts, net (12,500) (1,710)
Bad debt expense and other 492 101
Other operating expense, net 5 360
Operational expenses associated with equipment and other 240 247
Cash advance for other long-term assets (1,452)  
Change in operating assets and liabilities:    
Trade receivables (22,152) (12,647)
Accounts with joint venture owners (6,652) 275
Other receivables (1,723) (53)
Crude oil inventory (3,041) 5,795
Prepayments and other (876) (3,240)
Value added tax and other receivables (1,076) (149)
Accounts payable (10,132) (6,627)
Foreign income taxes receivable/payable 5,691 5,524
Accrued liabilities and other 12,814 (576)
Net cash (used in) provided by continuing operating activities (740) 1,755
Net cash used in discontinued operating activities (18) (13)
Net cash (used in) provided by operating activities (758) 1,742
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property and equipment expenditures (23,148) (1,198)
Acquisition of crude oil and natural gas properties   (17,858)
Net cash used in continuing investing activities (23,148) (19,056)
Net cash used in discontinued investing activities
Net cash used in investing activities (23,148) (19,056)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuances of common stock 198 347
Dividend distribution (1,929)  
Treasury shares (387) (403)
Net cash used in continuing financing activities (2,118) (56)
Net cash used in discontinued financing activities
Net cash used in financing activities (2,118) (56)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (26,024) (17,370)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 72,314 61,317
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 46,290 43,947
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment additions incurred but not paid at end of period 26,113 3,137
Recognition of right-of-use finance lease assets and liabilities $ 1,851  
Asset retirement obligations   $ 14,564

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