Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 2,563 $ 98,232 $ 9,651
Adjustments to reconcile net income to net cash provided by operating activities:      
(Income) loss from discontinued operations (5,411) 496 621
Depreciation, depletion and amortization 7,083 5,596 6,457
Gain on revision of asset retirement obligations (379) (3,325)  
Other amortization 241 417 369
Deferred taxes 14,480 (56,907) (1,260)
Unrealized foreign exchange (gain) loss (50) 834 (576)
Stock-based compensation 3,506 2,388 1,098
Cash settlements paid on exercised stock appreciation rights (491) (82)  
Derivative instruments (gain) loss 446 (4,264) 1,032
Cash settlements received on matured derivative contracts, net 2,439 744 195
Bad debt (recovery) expense and other (341) (77) 452
Other operating (income) loss, net 58 (570) 84
Operational expenses associated with equipment and other 69 1,604 1,189
Change in operating assets and liabilities:      
Trade receivables (2,428) (8,351) 3,195
Accounts with joint venture owners (2,075) 2,747 (108)
Other receivables (94) (1,330) (43)
Crude oil inventory (287) 2,478 (2,350)
Prepayments and other (1,014) 1,164 1,646
Value added tax and other receivables 275 (777) (3,025)
Accounts payable 6,011 (3,409) (7,297)
Foreign taxes payable 2,396 2,751  
Accrued liabilities and other 4,161 (2,131) 2,050
Net cash provided by continuing operating activities 31,158 38,228 13,380
Net cash used in discontinued operating activities (4,686) (1,052) (4,423)
Net cash provided by operating activities 26,472 37,176 8,957
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions     64
Proceeds from sale of crude oil and natural gas properties     250
Property and equipment expenditures (10,348) (14,127) (1,813)
Net cash used in continuing investing activities (10,348) (14,127) (1,499)
Net cash used in discontinued investing activities
Net cash used in investing activities (10,348) (14,127) (1,499)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from the issuances of common stock 256 544 39
Treasury shares (3,911) (58) (20)
Borrowings     4,167
Debt repayment   (9,166) (10,001)
Net cash used in continuing financing activities (3,655) (8,680) (5,815)
Net cash used in discontinued financing activities
Net cash used in financing activities (3,655) (8,680) (5,815)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 12,469 14,369 1,643
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF YEAR 46,655 32,286 30,643
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR 59,124 46,655 32,286
Supplemental disclosure of cash flow information:      
Interest paid in cash   257 997
Income taxes (received) paid in cash (674) 2,720 15,153
Income taxes paid in-kind with crude oil 7,268 9,385  
Supplemental disclosure of non-cash investing and financing activities:      
Property and equipment additions incurred but not paid at end of period 13,646 2,138 455
Crude oil and natural gas property additions paid with non-cash assets   4,197  
Gross-up of crude oil and natural gas properties by establishment of deferred tax liability   18,613  
Recognition of right-of-use operating lease assets 44,681    
Recognition of right-of-use operating lease liabilities 44,656    
Asset retirement obligations 595 (6,527) $ 600
Restricted stock issued out of treasury $ 309 $ 177