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From: Letstrade (Rep: 199)Date: 04/06/2020 12:50
Forum: Stockmania Plays - Msg #923Thread #674140841 (Rec: 0)
CDEV Full DD and Analyst Using the latest 10Q Filing Currently market cap 90 Million Dollars .32 Stock Price lets Dig in

https://www.sec.gov/ix?doc=/Archives/edgar/data/1658566/000165856620000040/cdev1231201910-k.htm

we operated 349 gross producing horizontal wells.

As of December 31, 2019, we have leased or acquired approximately 78,195 net acres, 93% of which we operate. In addition, we own 1,569 net mineral acres in the Delaware Basin. Approximately 76% of our total acreage is located in Texas, primarily Reeves County, in the southern portion of the Delaware Basin and the remaining 24% is located in New Mexico, in Lea County, in the northern portion of the Delaware Basin. Over 87% of our net acreage is held by production as of December 31, 2019. The relatively high proportion of our operated acreage that is held by production gives us significant operational control and capital spending flexibility. This allows us to execute our development program with significant control over the timing and allocation of capital expenditures and application of the optimal drilling and completion techniques to efficiently develop our resource base. Our development drilling plan is comprised exclusively of horizontal drilling with an ongoing focus on optimizing completions, improving drilling results and managing costs.

Wow alot of acres of land Comes out to around 1,150$ per acre at current market cap of 90 Million Dollars for land that has Oil and Nat Gas thats insane

Proved Oil and Gas Reserves
Reserve estimates are inherently imprecise, and estimates for new discoveries and undeveloped locations are more imprecise than reserve estimates for producing oil and gas properties. Accordingly, these estimates are expected to change as new information becomes available. The pre-tax PV 10% amounts shown in the following table are not intended to represent the current market value of our estimated proved reserves. The actual quantities and present value of our estimated proved reserves may be more or less than we have estimated, due to a number of factors. The following table should be read along with Item 1A. Risk Factors in this Annual Report.
The following table summarizes estimated proved reserves, pre-tax PV 10%, and standardized measure of discounted future cash flows as of the periods indicated:

December 31, 2019

December 31, 2018

December 31, 2017
Proved developed reserves:





Oil (MBbls)
74,842


63,317


41,786

Natural gas (MMcf)
237,791


180,542


126,065

NGL (MBbls)
32,743


23,093


12,133

Total proved developed reserves (MBoe)(1)
147,216


116,500


74,929

Proved undeveloped reserves:





Oil (MBbls)
75,317


79,449


59,147

Natural gas (MMcf)
264,639


222,310


201,147

NGL (MBbls)
34,499


28,825


18,853

Total proved undeveloped reserves (MBoe)(1)
153,923


145,326


111,525

Total proved reserves:





Oil (MBbls)
150,159


142,766


100,933

Natural gas (MMcf)
502,430


402,852


327,212

NGL (MBbls)
67,242


51,918


30,986

Total proved reserves (MBoe)(1)
301,139


261,826


186,454







Proved developed reserves %
49
%

44
%

40
%
Proved undeveloped reserves %
51
%

56
%

60
%






Reserve values (in millions):





Standard measure of discounted future net cash flows
$
2,062.4


$
2,479.9


$
1,503.3

Discounted future income tax expense
135.5


499.6


244.8

Total proved pre-tax PV 10% (2)
$
2,197.9


$
2,979.5


$
1,748.1

Huge Oil and Nat Gas proven reserves

During 2019, we spent $295.7 million in capital expenditures to convert 28.4 MMBoe of PUD reserves to proved developed reserves. We added 30.5 MMBoe of PUD reserves from extensions and discoveries during the year primarily due to new PUD locations that resulted from our 2019 drilling program, the majority of which were in the Upper Wolfcamp A formation in our Texas position and in the 2nd Bone Spring formations in our New Mexico acreage. Revisions to previous estimates added 6.5 MMBoe net PUD reserves and consisted of 21.4 MMBoe of upward revisions partially related to well performance revisions to reflect higher gas and NGL yields on older wells, which in turn increased total estimated ultimate recovery (“EURs”) for most of our PUD locations. These upward revisions were partially offset by 14.9 MMBoe of negative revisions for downward pricing adjustments (7.5 MMBoe) and PUD locations that were reclassified to unproven reserves due to: (i) such locations no longer being a part of our active development program, and (ii) 1.0 MMBoe removed for locations no longer expected to be developed within five years of their initial recording in accordance with SEC rules. All of our PUD locations are scheduled to be drilled within five years of their initial booking. Our PUD to proved developed reserves conversion rate was 23% in 2019.

They spent 295 Million on capitial expenditures and we can buy the entire company today for 90 Million..

Production
The following table sets forth information regarding net production of oil, natural gas and NGLs, and certain price and cost information for each of the periods indicated:

Year Ended December 31,

2019

2018

2017
Net Production:





Oil (MBbls)
15,582


12,679


6,944

Natural gas (MMcf)
41,703


31,707


17,754

NGLs (MBbls)
5,234


4,332


1,678

Total (MBoe) (1)
27,766


22,295


11,630

Average realized prices (excluding effect of hedges):





Oil (per Bbl)
$
52.02


$
55.98


$
48.17

Natural gas (per Mcf)
1.07


1.97


2.75

NGL (per Bbl)
17.03


27.45


26.28

Total per BOE (1)
$
34.01


$
39.97


$
36.96

Operating costs per Boe:





Lease operating expenses
$
5.26


$
3.74


$
3.55

Severance and ad valorem taxes
2.28


2.54


1.99

Gathering, processing and transportation expenses
2.62


2.58


2.95


Production continues to rise of both oil and nat gas The company also uses hedges to lock in prices smart

Productive Wells
As of December 31, 2019, we owned an approximate 76% average working interest in 484 gross (368 net) productive wells. Our wells are primarily oil wells (467 gross/354 net productive oil wells) that produce associated liquids-rich natural gas. Productive wells consist of producing wells, wells capable of production and wells awaiting connection to production facilities. Gross wells are the total number of producing wells in which we have an interest, operated and non-operated, and net wells are the sum of our fractional working interests owned in gross wells.


Delivery Commitments
The table below summarizes our firm sales agreements for crude oil and natural gas, both of which provide for gross firm sales over the contractual terms:


Oil Volume Commitments (1) (2)

Gas Volume Commitments (1) (3)
Period

Total (Bbl)

Daily (Bbls/d)

Total (MMBtu)

Daily (MMBtu/d)
2020

27,460,000


75,000


30,800,000


84,200

2021

32,247,000


88,300


14,600,000


40,000

2022

36,500,000


100,000


12,160,000


40,000

2023

38,325,000


105,000







2024

10,950,000


30,000







Total

145,482,000




57,560,000


Company is expecting production to rise sharply over the next 3-4 years going forward

Marketing and Customers
We market the majority of the production from properties we operate on account of both ourselves and that of the other working interest owners in these properties. We generally sell our oil, natural gas and NGL production to purchasers at prevailing market prices, and the majority of our revenue contracts have terms greater than twelve months.
We normally sell production to a relatively small number of customers, as is customary in our business. The tables below present percentages by purchaser that accounted for 10% or more of our net revenues for the periods presented:

Year Ended December 31,

2019

2018

2017
BP America
37
%

18
%

16
%
ExxonMobil Oil Corporation
26
%


%


%
Shell Trading (US) Company
11
%

19
%

33
%
Eagleclaw Midstream Ventures, LLC
8
%

12
%

14
%


They sell to major oil companies with a good customer mix

Employees
As of December 31, 2019, we had 195 full-time employees. We hire independent contractors on an as needed basis and have no collective bargaining agreements with our employees.

not a ton of employees so thats good keeps cost down

ear Ended December 31,

October 11, 2016
through
December 31, 2016


January 1, 2016
through
October 10, 2016(1)

Year Ended December 31,2015(1)
(in thousands, except per share data)
2019

2018

2017




Statements of Operations Data:












Total revenues
$
944,330


$
891,045


$
429,902


$
29,717



$
69,116


$
90,460

Net income attributable to Class A Common Stock
15,798


199,899


75,568


(8,081
)


(218,724
)

(38,325
)
Income (loss) per share:(2)












Basic
$
0.06


$
0.76


$
0.32


$
(0.05
)





Diluted
$
0.06


$
0.75


$
0.32


$
(0.05
)





Cash Flows Data:












Net cash provided by operating activities
$
564,173


$
670,011


$
259,918


$
9,410



$
51,740


$
68,882

Net cash used in investing activities
(932,989
)

(1,068,664
)

(992,306
)

(1,749,733
)


(101,434
)

(198,635
)
Net cash provided by financing activities
362,937


294,160


724,220


1,874,268



47,926


118,504



Successor


Predecessor


December 31,


December 31, 2015(1)
(in thousands)

2019

2018

2017

2016


Balance Sheet Data:











Total assets

$
4,688,288


$
4,260,021


$
3,616,569


$
2,651,642



$
616,295

Long-term debt, net

1,057,389


691,630


390,764






138,649

Total equity

3,270,701 HUGE Shareholders Equity


3,243,869


3,003,972


2,552,935



450,864



Holly **** They have made over 300 Million Dollars since 2017 and you can buy the entire company today right now for 90 days WOW

Cash Flows Data:












Net cash provided by operating activities
$
564,173 564 Million in cash flows Holly Cow


$
670,011


$
259,91

1.5 BILLION IN CASH FLOWS Since 2017 Wow

December 31,


December 31, 2015(1)
(in thousands)

2019

2018

2017

2016


Balance Sheet Data:











Total assets

$
4,688,288


$
4,260,021


$
3,616,569


$
2,651,642



$
616,295

Long-term debt, net

1,057,389


691,630


390,764






138,649

Total equity

3,270,701 3.2 BILLION IN SHAREHOLDERS EQUITY AND THIS IS TRADING AT 90 MILLION MARKET CAP WOW THIS IS INSANE!!!!


3,243,869


3,003,972


2,552,935



450,864

Financing Highlights
In connection with our credit facility’s spring 2019 semi-annual borrowing base redetermination, the borrowing base was increased from $1.0 billion to $1.2 billion, but the amount of elected commitments remained at $800.0 million. In addition, CRP and the lenders amended the credit agreement to reduce the applicable margin for LIBOR loans by 25 basis points to a range of 125 to 225 basis points and to reduce the applicable margin by 25 basis points for base rate loans to a range of 25 to 125 basis points, in each case depending on the percentage of the borrowing base utilized. These reductions in the applicable margins became effective in April 2019 and remain applicable as long as CRP’s total leverage ratio is less than or equal to 3.0 to 1.0; otherwise, the original applicable margins would be applied.
In connection with our credit facility’s fall 2019 semi-annual borrowing base redetermination, the borrowing base was reaffirmed at $1.2 billion, and the amount of elected commitments remained at $800.0 million.

Company has a 1.2 Billion Dollar line of Credit No Risk of bankruptcy here folks

Results of Operations
For the Year Ended December 31, 2019 Compared to the Year Ended December 31, 2018
The following table provides the components of our net revenues and net production (net of all royalties, overriding royalties and production due to others) for the periods indicated, as well as each period’s average prices and average daily production volumes:

Year Ended December 31,

Increase/(Decrease)

2019

2018

$

%
Net revenues (in thousands):







Oil sales
$
810,655


$
709,813


$
100,842


14
%
Natural gas sales
44,556


62,325


(17,769
)

(29
)%
NGL sales
89,119


118,907


(29,788
)

(25
)%
Oil and gas sales
$
944,330


$
891,045


$
53,285


6
%








Average sales price:







Oil (per Bbl)
$
52.02


$
55.98


$
(3.96
)

(7
)%
Effect of derivative settlements on average price (per Bbl)
(1.13
)

1.48


(2.61
)

(176
)%
Oil net of hedging (per Bbl)
$
50.89


$
57.46


$
(6.57
)

(11
)%








Average NYMEX price for oil (per Bbl)
$
57.03


$
64.76


$
(7.73
)

(12
)%
Oil differential from NYMEX
(5.01
)

(8.78
)

3.77


43
%








Natural gas (per Mcf)
$
1.07


$
1.97


$
(0.90
)

(46
)%
Effect of derivative settlements on average price (per Mcf)
0.29


0.06


0.23


383
%
Natural gas net of hedging (per Mcf)
$
1.36


$
2.03


$
(0.67
)

(33
)%








Average NYMEX price for natural gas (per Mcf)
$
2.52


$
3.15


$
(0.63
)

(20
)%
Natural gas differential from NYMEX
(1.45
)

(1.18
)

(0.27
)

(23
)%








NGL (per Bbl)
$
17.03


$
27.45


$
(10.42
)

(38
)%








Net production:







Oil (MBbls)
15,582


12,679


2,903


23
%
Natural gas (MMcf)
41,703


31,707


9,996


32
%
NGL (MBbls)
5,234


4,332


902


21
%
Total (MBoe)(1)
27,766


22,295


5,471


25
%








Average daily net production:







Oil (Bbls/d)
42,692


34,737


7,955


23
%
Natural gas (Mcf/d)
114,254


86,868


27,386


32
%
NGL (Bbls/d)
14,338


11,868


2,470


21
%
Total (Boe/d)(1)
76,072


61,082


14,990


25
%


Huge Revenues and profits

On a per Boe basis, GP&T increased 2% from $2.58 for the year ended December 31, 2018 to $2.62 per Boe for the year ended December 31, 2019. However, these fees are mainly incurred on our volumes of natural gas and NGLs processed, and the per Boe rate on a natural gas and NGL volume basis (i.e. excluding crude oil barrels) was $5.98 for the year ended December 31, 2019, which was consistent with our rate of $5.99 for the comparable 2018 period.
Depreciation, Depletion, and Amortization. The following table summarizes our depreciation, depletion and amortization (“DD&A”) for the periods indicated:

Year Ended December 31,
(in thousands, except per Boe data)
2019

2018
Depreciation, depletion and amortization
$
444,243


$
326,462

Depreciation, depletion and amortization per Boe
$
16.00


$
14.64



alot of depreciation but thats mostly for tax purposes


Year Ended December 31,
(in thousands)
2019

2018
Credit facility
$
8,371


$
5,975

5.375% Senior Notes due 2026
21,500


21,500

6.875% Senior Notes due 2027
27,309




Amortization of debt issuance costs and debt discount
2,861


1,749

Interest capitalized
(4,050
)

(2,866
)
Total
$
55,991


$
26,358


Long term debt NOT EVEN DUE TILL 2026 2027

Analysis of Cash Flow Changes
The following table summarizes our cash flows for the periods indicated:

Year Ended December 31,
(in thousands)
2019

2018

2017
Net cash provided by operating activities
$
564,173


$
670,011


$
259,918

Net cash used in investing activities
(932,989
)

(1,068,664
)

(992,306
)
Net cash provided by financing activities
362,937


294,160


724,220


Company has invested Billions and its trading with a 90 Million market cap this is 2008 bottom type of **** reminds me of oh what was that one Car Rental Company i pounded the table on at 30 Cents eventually got bought out at nearly 80$ a share a few years later.... talk about a multi bagger dollar thrifty car rental

Credit Agreement
On May 4, 2018, CRP entered into an amended and restated credit agreement with a syndicate of banks that as of December 31, 2019, had a borrowing base of $1.2 billion and elected commitments of $800.0 million. The credit agreement provides for a five-year secured revolving credit facility, maturing on May 4, 2023. As of December 31, 2019, we had $175.0 million in borrowings outstanding and $624.2 million in available borrowing capacity, which was net of $0.8 million in letters of credit outstanding. In connection with the credit facility’s fall 2019 semi-annual borrowing base redetermination, the borrowing base was reaffirmed at $1.2 billion and the amount of elected commitments remained at $800.0 million.

They have plenty of credit avaible no bankruptcy risk

CENTENNIAL RESOURCE DEVELOPMENT, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)

December 31, 2019

December 31, 2018
ASSETS



Current assets



Cash and cash equivalents
$
10,223


$
18,157

Accounts receivable, net
101,912


100,623

Derivative instruments



1,632

Prepaid and other current assets
7,994


9,777

Total current assets
120,129


130,189

Property and equipment



Oil and natural gas properties, successful efforts method



Unproved properties
1,470,903


1,680,065

Proved properties
3,962,175


2,895,280

Accumulated depreciation, depletion and amortization
(931,737
)

(496,900
)
Total oil and natural gas properties, net
4,501,341


4,078,445

Other property and equipment, net
14,612


8,837

Total property and equipment, net
4,515,953


4,087,282

Noncurrent assets



Operating lease right-of-use assets
11,841




Other noncurrent assets
40,365


42,550

TOTAL ASSETS
$
4,688,288


$
4,260,021





LIABILITIES AND EQUITY



Current liabilities



Accounts payable and accrued expenses
$
244,309


$
240,575

Derivative instruments
325


6,051

Operating lease liabilities
9,232




Other current liabilities
600


1,090

Total current liabilities
254,466


247,716

Noncurrent liabilities



Long-term debt, net
1,057,389


691,630

Asset retirement obligations
16,874


13,895

Deferred income taxes
85,504


62,167

Operating lease liabilities
3,354




Other long-term liabilities



744

Total liabilities
1,417,587


1,016,152

Commitments and contingencies (Note 13)





Shareholders’ equity



Preferred stock, $.0001 par value, 1,000,000 shares authorized:



Series A: 1 share issued and outstanding





Common stock, $0.0001 par value, 620,000,000 shares authorized:



Class A: 280,650,341 shares issued and 275,811,346 shares outstanding at December 31, 2019 and 265,859,273 shares issued and 264,323,328 shares outstanding at December 31, 2018
28


27

Class C (Convertible): 1,034,119 and 12,003,183 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively



1

Additional paid-in capital
2,975,756


2,833,611

Retained earnings
282,336


266,538

Total shareholders’ equity
3,258,120


3,100,177

Noncontrolling interest
12,581


143,692

Total equity
3,270,701


3,243,869

TOTAL LIABILITIES AND EQUITY
$
4,688,288


$
4,260,021


On the balance sheet side the company has way more assets then liablities with shareholders equity at 3.2 Billion and with a line of Credit of 1.2 Billion their is ZERO Risk of bankruptcy and no long term debt due

Price to sales .07 Price to book .02 thats 2 cents on the dollar

CENTENNIAL RESOURCE DEVELOPMENT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)

Year Ended December 31,

2019

2018

2017
Operating revenues






Oil and gas sales
$
944,330


$
891,045


$
429,902

Operating expenses





Lease operating expenses
145,976


83,313


41,336

Severance and ad valorem taxes
63,200


56,523


23,173

Gathering, processing and transportation expenses
72,834


57,624


34,259

Depreciation, depletion and amortization
444,243


326,462


161,628

Impairment and abandonment expense
47,245


11,136


(29
)
Exploration expense
11,390


9,968


14,373

General and administrative expenses
79,156


63,304


49,882

Total operating expenses
864,044


608,330


324,622

Net gain (loss) on sale of long-lived assets
(857
)

475


8,796

Income from operations
79,429


283,190


114,076








Other income (expense)






Interest expense
(55,991
)

(26,358
)

(5,729
)
Net gain (loss) on derivative instruments
(1,561
)

15,336


5,138

Other income
334


8




Total other income (expense)
(57,218
)

(11,014
)

(591
)







Income before income taxes
22,211


272,176


113,485

Income tax expense
(5,797
)

(59,440
)

(29,930
)
Net income
16,414


212,736


83,555

Less: Net income attributable to noncontrolling interest
(616
)

(12,837
)

(7,987
)
Net income attributable to Class A Common Stock
$
15,798


$
199,899


$
75,568








Income per share of Class A Common Stock:






Basic
$
0.06


$
0.76


$
0.32

Diluted
$
0.06


$
0.75


$
0.32


Add back in the depreciation and this company is a CASH MACHINE

CENTENNIAL RESOURCE DEVELOPMENT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)

Year Ended December 31,

2019

2018

2017
Cash flows from operating activities:





Net income
$
16,414


$
212,736


$
83,555

Adjustments to reconcile net income to net cash provided by operating activities:





Depreciation, depletion and amortization
444,243


326,462


161,628

Stock-based compensation expense
28,997


20,670


13,759

Impairment and abandonment expense
47,245


11,136


(29
)
Exploratory dry hole costs



528


5,658

Deferred tax expense
5,797


59,440


29,930

Net (gain) loss on sale of long-lived assets
857


(475
)

(8,796
)
Non-cash portion of derivative (gain) loss
(4,094
)

5,274


(5,805
)
Amortization of debt issuance costs and discount
2,861


1,749


887

Changes in operating assets and liabilities:





(Increase) decrease in accounts receivable
(10,098
)

(33,001
)

(43,553
)
(Increase) decrease in prepaid and other assets
(1,882
)

(1,168
)

(4,088
)
Increase (decrease) in accounts payable and other liabilities
33,833


66,660


26,772

Net cash provided by operating activities
564,173


670,011


259,918

Cash flows from investing activities:





Acquisition of oil and natural gas properties
(103,709
)

(212,513
)

(435,547
)
Drilling and development capital expenditures
(855,153
)

(998,242
)

(574,334
)
Purchases of other property and equipment
(8,857
)

(6,058
)

(4,921
)
Proceeds from sales of oil and natural gas properties
34,730


148,149


22,496

Net cash used in investing activities
(932,989
)

(1,068,664
)

(992,306
)
Cash flows from financing activities:





Issuance of Class A common stock






340,750

Underwriting discount and offering costs






(7,291
)
Proceeds from borrowings under revolving credit facility
595,000


475,000


275,000

Repayment of borrowings under revolving credit facility
(720,000
)

(175,000
)

(275,000
)
Proceeds from issuance of Senior Notes
496,175





400,000

Debt issuance costs
(7,200
)

(5,157
)

(9,472
)
Proceeds from exercise of stock options



982


877

Restricted stock used for tax withholdings
(1,038
)

(1,665
)

(644
)
Net cash provided by financing activities
362,937


294,160


724,220

Net increase (decrease) in cash, cash equivalents and restricted cash
(5,879
)

(104,493
)

(8,168
)
Cash, cash equivalents and restricted cash, beginning of period
21,422


125,915


134,083

Cash, cash equivalents and restricted cash, end of period
$
15,543


$
21,422


$
125,915

The accompanying notes are an integral part of these consolidated financial statements.

67

CENTENNIAL RESOURCE DEVELOPMENT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)

Year Ended December 31,

2019

2018

2017
Cash flows from operating activities:





Net income
$
16,414


$
212,736


$
83,555

Adjustments to reconcile net income to net cash provided by operating activities:





Depreciation, depletion and amortization
444,243


326,462


161,628

Stock-based compensation expense
28,997


20,670


13,759

Impairment and abandonment expense
47,245


11,136


(29
)
Exploratory dry hole costs



528


5,658

Deferred tax expense
5,797


59,440


29,930

Net (gain) loss on sale of long-lived assets
857


(475
)

(8,796
)
Non-cash portion of derivative (gain) loss
(4,094
)

5,274


(5,805
)
Amortization of debt issuance costs and discount
2,861


1,749


887

Changes in operating assets and liabilities:





(Increase) decrease in accounts receivable
(10,098
)

(33,001
)

(43,553
)
(Increase) decrease in prepaid and other assets
(1,882
)

(1,168
)

(4,088
)
Increase (decrease) in accounts payable and other liabilities
33,833


66,660


26,772

Net cash provided by operating activities
564,173


670,011


259,918

Cash flows from investing activities:





Acquisition of oil and natural gas properties
(103,709
)

(212,513
)

(435,547
)
Drilling and development capital expenditures
(855,153
)

(998,242
)

(574,334
)
Purchases of other property and equipment
(8,857
)

(6,058
)

(4,921
)
Proceeds from sales of oil and natural gas properties
34,730


148,149


22,496

Net cash used in investing activities
(932,989
)

(1,068,664
)

(992,306
)
Cash flows from financing activities:





Issuance of Class A common stock






340,750

Underwriting discount and offering costs






(7,291
)
Proceeds from borrowings under revolving credit facility
595,000


475,000


275,000

Repayment of borrowings under revolving credit facility
(720,000
)

(175,000
)

(275,000
)
Proceeds from issuance of Senior Notes
496,175





400,000

Debt issuance costs
(7,200
)

(5,157
)

(9,472
)
Proceeds from exercise of stock options



982


877

Restricted stock used for tax withholdings
(1,038
)

(1,665
)

(644
)
Net cash provided by financing activities
362,937


294,160


724,220

Net increase (decrease) in cash, cash equivalents and restricted cash
(5,879
)

(104,493
)

(8,168
)
Cash, cash equivalents and restricted cash, beginning of period
21,422


125,915


134,083

Cash, cash equivalents and restricted cash, end of period
$
15,543


$
21,422


$
125,915

They have invested nearly a Billion Dollars in past 12 months they can take some of their massive cash flows and redirect them to paying down some of their credit lines and cut back on capitial expenditures during this time

CENTENNIAL RESOURCE DEVELOPMENT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
(in thousands)

Year Ended December 31,

2019

2018

2017
Supplemental cash flow information





Cash paid for interest
$
48,905


$
18,284


$
4,280

Operating lease liability payments:





Cash used in operating activities
16,774







Cash used in investing activities
20,905







Supplemental non-cash activity





Accrued capital expenditures included in accounts payable and accrued expenses
$
97,090


$
119,492


$
126,480

Asset retirement obligations incurred, including revisions to estimates
2,262


1,451


4,044

Right-of-use assets recognized with offsetting operating lease liabilities
34,833







Reconciliation of cash, cash equivalents and restricted cash presented in the Consolidated Statements of Cash Flows:

Year Ended December 31,

2019

2018

2017
Cash and cash equivalents
$
10,223


$
18,157


$
117,315

Restricted cash (1)
5,320


3,265


8,600

Total cash, cash equivalents and restricted cash
$
15,543


$
21,422


$
125,915

On February 8, 2018, the Company completed the acquisition of approximately 4,000 undeveloped net acres, as well as certain producing properties, in Lea County, New Mexico for an unadjusted purchase price of $94.7 million.

Market cap of the ENTIRE Company today right now only 90 Million that is LESS Then what they paid for just 4000 acres of their land....

Note 4—Long-Term Debt
The following table provides information about the Company’s long-term debt as of the dates indicated:
(in thousands)
December 31, 2019

December 31, 2018
Credit Facility due 2023
$
175,000


$
300,000





5.375% Senior Notes due 2026
400,000


400,000

6.875% Senior Notes due 2027
500,000




Unamortized debt issuance costs on Senior Notes
(14,061
)

(8,370
)
Unamortized debt discount
(3,550
)



Senior Notes, net
882,389


391,630





Total long-term debt, net
$
1,057,389


$
691,63

Long term debt isnt even due till 2023 thats 3 years from now so ZERO RISK OF BANKRUPTCY

The Rest of the 10Q goes into further details of the company ANYWAYS THIS IS A ABSOLUTE STEAL AT THESE PRIRCES POUNDING THE TABLE!!!!

Chart Way Oversold also 110% Institution Owned

STRONG BUY















.

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