Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v3.20.2
Condensed Consolidated Statements Of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (44,586,000) $ 1,549,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
(Income) loss from discontinued operations 41,000 (5,448,000)
Depreciation, depletion and amortization 8,116,000 4,971,000
Impairment of proved crude oil and natural gas properties 30,625,000  
Other amortization 181,000 181,000
Deferred taxes 26,972,000 12,725,000
Unrealized foreign exchange gain (60,000) (46,000)
Stock-based compensation (2,097,000) 2,770,000
Cash settlements paid on exercised stock appreciation rights 0 (261,000)
Derivatives instruments gain (6,583,000) (2,266,000)
Cash settlements received on matured derivative contracts, net 7,216,000 2,056,000
Bad debt expense and other 1,140,000 30,000
Other operating loss, net 83,000 37,000
Operational expenses associated with equipment and other 1,418,000 (62,000)
Change in operating assets and liabilities:    
Trade receivables 8,255,000 4,404,000
Accounts with joint venture owners 8,642,000 12,354,000
Other receivables 1,333,000 219,000
Crude oil inventory 291,000 10,000
Prepayments and other (1,153,000) (1,979,000)
Value added tax and other receivables (919,000) 664,000
Accounts payable (9,318,000) (2,154,000)
Foreign income taxes receivable/payable (6,875,000) (122,000)
Accrued liabilities and other (3,285,000) 4,092,000
Net cash provided by continuing operating activities 19,437,000 33,724,000
Net cash used in discontinued operating activities (376,000) (4,673,000)
Net cash provided by operating activities 19,061,000 29,051,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property and equipment expenditures (22,317,000) (3,382,000)
Net cash used in continuing investing activities (22,317,000) (3,382,000)
Net cash used in discontinued investing activities
Net cash used in investing activities (22,317,000) (3,382,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuances of common stock   133,000
Treasury shares (990,000) (2,425,000)
Net cash used in continuing financing activities (990,000) (2,292,000)
Net cash used in discontinued financing activities
Net cash used in financing activities (990,000) (2,292,000)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (4,246,000) 23,377,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 59,124,000 46,655,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 54,878,000 70,032,000
Supplemental disclosure of cash flow information:    
Interest expense paid in cash
Income taxes paid in cash
Income taxes paid in-kind with crude oil 8,738,000 7,347,000
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment additions incurred but not paid at end of period 1,360,000 7,042,000
Recognition of right-of-use operating lease assets and liabilities 1,478,000 44,681,000
Recognition of right-or-use operating lease liabilities 1,478,000 44,656,000
Asset retirement obligations $ 359,000 $ 292,000