Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v3.19.1
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 6,501 $ 8,659
Adjustments to reconcile net income to net cash provided by operating activities:    
(Income) loss from discontinued operations (5,671) 52
Depreciation, depletion and amortization 1,553 1,124
Other amortization 60 60
Deferred taxes 1,742  
Unrealized foreign exchange gain (12) (75)
Stock-based compensation 1,723 314
Derivative instrument loss 1,912  
Cash settlements paid on matured derivative contracts, net 1,131  
Bad debt recovery and other (29) (56)
Other operating (income) loss, net 37 (24)
Operational expenses associated with equipment and other (109) 172
Change in operating assets and liabilities:    
Trade receivables 2,871 (4,704)
Accounts with joint venture owners 4,986 8,129
Other receivables 311 37
Crude oil inventory (489) 1,984
Prepayments and other (202) (804)
Value added tax and other receivables 738 83
Accounts payable (3,923) (1,291)
Foreign taxes payable 1,037 1,849
Accrued liabilities and other (581) 149
Net cash provided by continuing operating activities 13,586 15,658
Net cash used in discontinued operating activities (101) (591)
Net cash provided by operating activities 13,485 15,067
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property and equipment expenditures (788) (423)
Net cash used in continuing investing activities (788) (423)
Net cash used in discontinued investing activities
Net cash used in investing activities (788) (423)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuances of common stock 47  
Treasury shares (105)  
Debt repayment   (2,083)
Net cash used in continuing financing activities (58) (2,083)
Net cash provided by discontinued financing activities
Net cash used in financing activities (58) (2,083)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 12,639 12,561
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 46,655 32,286
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 59,294 44,847
Supplemental disclosure of cash flow information:    
Interest paid   172
Income taxes paid   2,720
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment additions incurred but not paid at end of period 2,124 $ 556
Initial recognition of right-of-use operating lease assets and lease liabilities $ 38,934