v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2019
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income (loss) $ (90,248,000) $ 6,509,000 $ (165,697,000)
Adjustments to reconcile net income (loss):      
Depreciation and amortization 25,102,000 61,499,000 107,545,000
(Gain) loss on disposition of assets, net (384,000) (226,000) 1,724,000
Deferred tax expense (benefit) (1,685,000) 5,905,000 (429,000)
Loss on impairment 0 0 50,698,000
Reorganization items 62,470,000 0 7,538,000
Expenses not requiring cash 2,575,000 8,681,000 5,151,000
Change in assets and liabilities:      
Accounts receivable (32,842,000) 1,611,000 (15,235,000)
Rig materials and supplies 0 (6,335,000) 249,000
Other current assets (6,542,000) (4,027,000) (10,860,000)
Other non-current assets 0 (4,805,000) 13,019,000
Accounts payable and accrued liabilities 55,780,000 (4,646,000) (9,489,000)
Accrued income taxes 688,000 (2,527,000) (1,264,000)
Net cash provided by (used in) operating activities 14,914,000 61,639,000 (17,050,000)
Cash flows from investing activities:      
Capital expenditures (9,231,000) (71,107,000) (70,567,000)
Proceeds from the sale of assets 101,000 792,000 1,353,000
Net cash provided by (used in) investing activities (9,130,000) (70,315,000) (69,214,000)
Cash flows from financing activities:      
Payment of term loan 0 (35,158,000) 0
Payments of debt issuance costs (490,000) (500,000) (1,443,000)
Proceeds from rights offering 95,000,000 0 0
Payment of amounts borrowed under debtor in possession facility (10,000,000) 0 0
Predecessor preferred stock dividend 0 0 (3,625,000)
Shares surrendered in lieu of tax 0 0 (251,000)
Proceeds from borrowing under debtor in possession facility 0 0 10,000,000
Payment of debtor in possession facility costs 0 0 (975,000)
Net cash provided by (used in) financing activities 84,510,000 (35,658,000) 3,706,000
Net increase (decrease) in cash and cash equivalents and restricted cash 90,294,000 (44,334,000) (82,558,000)
Cash, cash equivalents and restricted cash at beginning of period 58,991,000 149,285,000 141,549,000
Cash, cash equivalents and restricted cash at end of period $ 149,285,000 $ 104,951,000 $ 58,991,000

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