Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v3.19.2
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 5,468 $ 9,203
Adjustments to reconcile net income to net cash provided by operating activities:    
(Income) loss from discontinued operations (5,509) 395
Depreciation, depletion and amortization 3,462 2,159
Other amortization 121 191
Deferred taxes 7,667  
Unrealized foreign exchange loss 21 79
Stock-based compensation 1,620 2,756
Cash settlements paid on exercised stock appreciation rights (261) (82)
Derivative instruments loss 1 1,010
Cash settlements received (paid) on matured derivative contracts, net 1,563 (11)
Bad debt (recovery) expense (24) 89
Other operating (income) loss, net 37 (338)
Operational expenses associated with equipment and other (60) 1,739
Change in operating assets and liabilities:    
Trade receivables (1,921) (6,051)
Accounts with joint venture owners 4,291 13,203
Other receivables 158 (23)
Crude oil inventory 232 1,965
Prepayments and other (1,175) (764)
Value added tax and other receivables 718 (249)
Accounts payable (730) (535)
Foreign taxes payable (2,865) 5,431
Accrued liabilities and other 3,858 1,381
Net cash provided by continuing operating activities 16,672 31,548
Net cash used in discontinued operating activities (91) (892)
Net cash provided by operating activities 16,581 30,656
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property and equipment expenditures (1,163) (976)
Net cash used in continuing investing activities (1,163) (976)
Net cash used in discontinued investing activities
Net cash used in investing activities (1,163) (976)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuances of common stock 107 445
Treasury shares (352)  
Debt repayment   (9,166)
Net cash used in continuing financing activities (245) (8,721)
Net cash used in discontinued financing activities
Net cash used in financing activities (245) (8,721)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 15,173 20,959
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 46,655 32,286
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 61,828 53,245
Supplemental disclosure of cash flow information:    
Interest paid   257
Income taxes paid   2,720
Income taxes paid in-kind with oil 7,347  
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment additions incurred but not paid at end of period 3,378 $ 463
Initial recognition of right-of-use operating lease assets and lease liabilities $ 38,934