Quarterly report pursuant to Section 13 or 15(d)

Consolidated statements of cash flow (Unaudited)

v3.22.2.2
Consolidated statements of cash flow (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 94,219 $ (34,595)
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation, depletion and amortization 108,280 70,365
Stock based compensation 40,304  
Loss on disposal of assets, net 1,989 4,075
Non-cash loss on extinguishment of debt 10,230  
Amortization of debt issuance costs 2,729 1,063
Bad debt expense, net of recoveries 5 83
Deferred tax expense 1,024  
Unrealized gain on investments, net (8,526)  
Changes in operating assets and liabilities:    
Accounts receivable (174,371) (25,317)
Inventories (63,881) (7,423)
Prepaid expenses and other assets (7,108) 201
Accounts payable (12,750) (286)
Accrued expenses 82,629 18,614
Deferred revenues and other liabilities 9,691  
Net cash provided by operating activities 84,464 26,780
Cash flows from investing activities:    
Investment in property, plant & equipment (116,069) (53,607)
Proceeds from sale of assets 46,101 17,586
Acquisitions, net of cash acquired (257,267) (2,430)
Investment in preferred shares of BPC (47,202)  
Initial investment in Flotek (10,000)  
Other investments (3,893)  
Net cash used in investing activities (388,330) (38,451)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 587,560 42,084
Repayments of long-term debt (497,825) (18,856)
Borrowings from revolving credit agreements 197,233 14,000
Repayments to revolving credit agreements (122,883) (10,000)
Payment of debt issuance costs (23,584) (1,127)
Member contribution 5,000  
Proceeds from issuance of common stock 329,118  
Payment of THRC related equity (72,931)  
Payment of common stock issuance costs (27,444)  
Net cash provided by financing activities 374,244 26,101
Net increase in cash, cash equivalents, and restricted cash 70,378 14,430
Cash, cash equivalents, and restricted cash beginning of period 5,376 2,952
Cash, cash equivalents, and restricted cash end of period 75,754 17,382
Supplemental cash flow information:    
Cash payments for interest 13,139 12,624
Cash payments for taxes 118  
Non-cash investing and financing activities:    
Capital expenditures included in accounts payable 27,377 $ 7,837
Operating lease liabilities incurred from obtaining right-of-use-assets $ 44,968