2021 Form 10-K Financial Statement

#000165856622000022 Filed on February 24, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $1.030B $148.1M $580.5M
YoY Change 77.43% -42.24% -38.53%
Cost Of Revenue $173.6M $35.60M $148.7M
YoY Change 16.72% -37.1% -28.92%
Gross Profit $856.3M $112.5M $431.8M
YoY Change 98.32% -43.69% -41.27%
Gross Profit Margin 83.15% 75.96% 74.39%
Selling, General & Admin $112.6M $18.60M $74.30M
YoY Change 51.5% -19.83% -9.17%
% of Gross Profit 13.14% 16.53% 17.21%
Research & Development $5.775M $7.400M $16.90M
YoY Change -65.83% 393.33% 94.25%
% of Gross Profit 0.67% 6.58% 3.91%
Depreciation & Amortization $289.1M $74.90M $358.6M
YoY Change -19.37% -39.01% -19.27%
% of Gross Profit 33.76% 66.58% 83.05%
Operating Expenses $699.4M $118.8M $1.361B
YoY Change -48.61% -29.41% 57.51%
Operating Profit $370.6M -$6.300M -$780.1M
YoY Change -147.51% -120.0% -1082.16%
Interest Expense $61.29M -$41.90M $69.19M
YoY Change -11.42% 170.32% 23.58%
% of Operating Profit 16.54%
Other Income/Expense, Net -$231.9M $100.0K $9.797M
YoY Change -2466.79% -117.12%
Pretax Income $138.7M -$88.70M -$770.3M
YoY Change -118.01% -952.88% -3568.2%
Income Tax $569.0K $0.00 -$85.12M
% Of Pretax Income 0.41%
Net Earnings $138.2M -$88.70M -$682.8M
YoY Change -120.24% -1023.96% -4422.3%
Net Earnings / Revenue 13.42% -59.89% -117.64%
Basic Earnings Per Share $0.49 -$2.46
Diluted Earnings Per Share $0.46 -$318.6K -$2.46
COMMON SHARES
Basic Shares Outstanding 280.9M shares 278.3M shares 277.4M shares
Diluted Shares Outstanding 310.2M shares 277.4M shares

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.380M $5.800M $5.800M
YoY Change 61.72% -43.14% -43.14%
Cash & Equivalents $9.380M $5.800M $5.800M
Short-Term Investments
Other Short-Term Assets $5.860M $5.200M $5.200M
YoY Change 12.69% -35.0% -35.0%
Inventory
Prepaid Expenses
Receivables $69.74M $41.67M $54.40M
Other Receivables $1.559M $200.0K $200.0K
Total Short-Term Assets $86.54M $65.59M $65.60M
YoY Change 31.91% -45.4% -45.38%
LONG-TERM ASSETS
Property, Plant & Equipment $3.702B $12.65M $3.743B
YoY Change -1.08% -13.43% -17.34%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.85M $19.17M $19.20M
YoY Change -17.43% -52.52% -52.48%
Total Long-Term Assets $3.718B $3.762B $3.762B
YoY Change -1.16% -17.65% -17.65%
TOTAL ASSETS
Total Short-Term Assets $86.54M $65.59M $65.60M
Total Long-Term Assets $3.718B $3.762B $3.762B
Total Assets $3.805B $3.827B $3.827B
YoY Change -0.6% -18.36% -18.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.736M $5.052M $5.100M
YoY Change 90.9% -76.48% -76.28%
Accrued Expenses $72.90M $62.90M $62.90M
YoY Change 15.9% -57.93% -57.93%
Deferred Revenue $42.12M
YoY Change -48.98%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $167.9M $131.9M $131.9M
YoY Change 27.29% -48.18% -48.17%
LONG-TERM LIABILITIES
Long-Term Debt $825.6M $1.069B $1.069B
YoY Change -22.74% 1.06% 1.06%
Other Long-Term Liabilities $57.82M $2.952M $20.40M
YoY Change 183.44% 0.99%
Total Long-Term Liabilities $883.4M $2.952M $1.089B
YoY Change -18.88% 1.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $167.9M $131.9M $131.9M
Total Long-Term Liabilities $883.4M $2.952M $1.089B
Total Liabilities $1.054B $1.223B $1.224B
YoY Change -13.86% -13.69% -14.45%
SHAREHOLDERS EQUITY
Retained Earnings -$400.5M
YoY Change -241.85%
Common Stock $29.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.751B $2.604B $2.604B
YoY Change
Total Liabilities & Shareholders Equity $3.805B $3.827B $3.827B
YoY Change -0.6% -18.36% -18.36%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income $138.2M -$88.70M -$682.8M
YoY Change -120.24% -1023.96% -4422.3%
Depreciation, Depletion And Amortization $289.1M $74.90M $358.6M
YoY Change -19.37% -39.01% -19.27%
Cash From Operating Activities $525.6M $41.20M $171.4M
YoY Change 206.71% -77.02% -69.62%
INVESTING ACTIVITIES
Capital Expenditures -$320.5M -$17.80M -$319.5M
YoY Change 0.33% -91.56% -63.02%
Acquisitions $0.00 $0.00
YoY Change
Other Investing Activities $94.07M -$500.0K -$6.800M
YoY Change -1483.31% -97.92% -90.14%
Cash From Investing Activities -$226.5M -$18.30M -$326.3M
YoY Change -30.6% -92.21% -65.02%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00 $0.00
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$297.5M -25.10M $147.7M
YoY Change -301.39% -145.8% -59.29%
NET CHANGE
Cash From Operating Activities $525.6M 41.20M $171.4M
Cash From Investing Activities -$226.5M -18.30M -$326.3M
Cash From Financing Activities -$297.5M -25.10M $147.7M
Net Change In Cash $1.596M -2.200M -$7.204M
YoY Change -122.15% 175.0% 22.54%
FREE CASH FLOW
Cash From Operating Activities $525.6M $41.20M $171.4M
Capital Expenditures -$320.5M -$17.80M -$319.5M
Free Cash Flow $846.2M $59.00M $490.9M
YoY Change 72.38% -84.88% -65.63%

Facts In Submission

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CY2019 cdev Depreciation Depletion Amortization And Asset Retirement Obligation Accretion Expense
DepreciationDepletionAmortizationAndAssetRetirementObligationAccretionExpense
444243000 USD
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
37541000 USD
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
20966000 USD
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
28997000 USD
CY2021 cdev Share Based Payment Arrangement Liability Awards
ShareBasedPaymentArrangementLiabilityAwards
20573000 USD
CY2020 cdev Share Based Payment Arrangement Liability Awards
ShareBasedPaymentArrangementLiabilityAwards
3602000 USD
CY2019 cdev Share Based Payment Arrangement Liability Awards
ShareBasedPaymentArrangementLiabilityAwards
0 USD
CY2021 us-gaap Exploration Abandonment And Impairment Expense
ExplorationAbandonmentAndImpairmentExpense
32511000 USD
CY2020 us-gaap Exploration Abandonment And Impairment Expense
ExplorationAbandonmentAndImpairmentExpense
691190000 USD
CY2019 us-gaap Exploration Abandonment And Impairment Expense
ExplorationAbandonmentAndImpairmentExpense
47245000 USD
CY2021 cdev Exploratory And Other Costs
ExploratoryAndOtherCosts
0 USD
CY2020 cdev Exploratory And Other Costs
ExploratoryAndOtherCosts
6615000 USD
CY2019 cdev Exploratory And Other Costs
ExploratoryAndOtherCosts
0 USD
CY2021 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
569000 USD
CY2020 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-85124000 USD
CY2019 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
5797000 USD
CY2021 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
34168000 USD
CY2020 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
398000 USD
CY2019 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
-857000 USD
CY2021 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-16700000 USD
CY2020 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-17884000 USD
CY2019 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
4094000 USD
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4992000 USD
CY2020 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5923000 USD
CY2019 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2861000 USD
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-22156000 USD
CY2020 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
143443000 USD
CY2019 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
21475000 USD
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-44572000 USD
CY2019 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10098000 USD
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2907000 USD
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3804000 USD
CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1882000 USD
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
16016000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-59962000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
33833000 USD
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
525619000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
171376000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
564173000 USD
CY2021 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
6510000 USD
CY2020 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
8464000 USD
CY2019 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
103709000 USD
CY2021 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
319640000 USD
CY2020 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
318465000 USD
CY2019 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
855153000 USD
CY2021 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
901000 USD
CY2020 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
1083000 USD
CY2019 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
8857000 USD
CY2021 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
100575000 USD
CY2020 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
1689000 USD
CY2019 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
34730000 USD
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-226476000 USD
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-326323000 USD
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-932989000 USD
CY2021 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
570000000 USD
CY2020 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
570000000 USD
CY2019 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
595000000 USD
CY2021 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
875000000 USD
CY2020 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
415000000 USD
CY2019 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
720000000 USD
CY2021 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
170000000 USD
CY2020 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
0 USD
CY2019 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
496175000 USD
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
6421000 USD
CY2020 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
6650000 USD
CY2019 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
7200000 USD
CY2021 cdev Payment Of Debt Premium Charges
PaymentOfDebtPremiumCharges
14688000 USD
CY2020 cdev Payment Of Debt Premium Charges
PaymentOfDebtPremiumCharges
0 USD
CY2019 cdev Payment Of Debt Premium Charges
PaymentOfDebtPremiumCharges
0 USD
CY2021 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
127073000 USD
CY2020 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0 USD
CY2019 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0 USD
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
132000 USD
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2019 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
14497000 USD
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
607000 USD
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1038000 USD
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-297547000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
147743000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
362937000 USD
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1596000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7204000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5879000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8339000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15543000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21422000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9935000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8339000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15543000 USD
CY2021 us-gaap Interest Paid Net
InterestPaidNet
57943000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
69675000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
48905000 USD
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
29128000 USD
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
23409000 USD
CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
97090000 USD
CY2021 us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
249000 USD
CY2020 us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
-563000 USD
CY2019 us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
2262000 USD
CY2021 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
0 USD
CY2020 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
106030000 USD
CY2019 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
0 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9380000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5800000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10223000 USD
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
555000 USD
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
2539000 USD
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
5320000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9935000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8339000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15543000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3243869000 USD
CY2019 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
1038000 USD
CY2019 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
28997000 USD
CY2019 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
17541000 USD
CY2019 us-gaap Profit Loss
ProfitLoss
16414000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3270701000 USD
CY2020 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
607000 USD
CY2020 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
308000 USD
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
20966000 USD
CY2020 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
2208000 USD
CY2019 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
4100000 USD
CY2020 us-gaap Profit Loss
ProfitLoss
-685199000 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2603961000 USD
CY2021 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
14497000 USD
CY2021 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
96000 USD
CY2021 cdev Adjustments To Additional Paid In Capital Premiums On Capped Call Transactions
AdjustmentsToAdditionalPaidInCapitalPremiumsOnCappedCallTransactions
14688000 USD
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
37541000 USD
CY2021 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
132000 USD
CY2021 us-gaap Profit Loss
ProfitLoss
138175000 USD
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2750720000 USD
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Company’s consolidated financial statements requires the Company’s management to make various assumptions, judgments and estimates to determine the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of commitments and contingencies. Changes in these assumptions, judgments, and estimates will occur as a result of the passage of time and the occurrence of future events, and accordingly, actual results could differ from amounts previously established. Additionally, the prices received for oil, natural gas and NGL production can heavily influence the Company’s assumptions, judgments and estimates and continued volatility of oil and gas prices could have a significant impact on the Company’s estimates.</span></div>The more significant areas requiring the use of assumptions, judgments and estimates include: (i) oil and natural gas reserves; (ii) cash flow estimates used in impairment tests of long-lived assets; (iii) impairment expense of unproved properties; (iv) depreciation, depletion and amortization; (v) asset retirement obligations; (vi) determining fair value and allocating purchase price in connection with business combinations and asset acquisitions; (vii) accrued revenues and related receivables; (viii) accrued liabilities; (ix) derivative valuations; (x) deferred income taxes; and (xi) determining the fair value of certain stock-based compensation awards.
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
100000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
100000 USD
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Credit Risk and Other Concentrations</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Centennial is exposed to credit risk in the event of nonpayment by counterparties. The Company normally sells production to a relatively small number of customers, as is customary in its business. The table below summarizes the purchasers that accounted for 10% or more of the Company’s total net revenues for the periods presented: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.712%"><tr><td style="width:1.0%"/><td style="width:58.121%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.724%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.724%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.727%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2019</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">BP America</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">50 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">47 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">37 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Shell Trading (US) Company</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">22 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Eagleclaw Midstream Ventures, LLC</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">ExxonMobil Oil Corporation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div style="text-indent:18pt"><span><br/></span></div><div style="margin-bottom:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During these periods, no other purchaser accounted for 10% or more of the Company’s net revenues. The loss of any of the Company’s major purchasers could materially and adversely affect its revenues in the short-term. However, based on the demand for oil and natural gas and the availability of other purchasers, the Company believes that the loss of any major purchaser would not have a material adverse effect on its financial condition and results of operations because crude oil and natural gas are fungible products with well-established markets and numerous purchasers.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By using derivative instruments to economically hedge exposures to changes in commodity prices, the Company also exposes itself to credit risk. When the fair value of a derivative contract is positive, the counterparty owes the Company, which creates credit risk.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company minimizes the credit risk in derivative instruments by: (i) limiting its exposure to any single counterparty; and (ii) only entering into hedging arrangements with counterparties that are also participants in CRP’s credit agreement, all of which have investment-grade credit ratings.</span></div>
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CY2021Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
8146000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
5192000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
5206000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
5192000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
5192000 USD
CY2021Q4 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
0 USD
CY2021Q4 us-gaap Contractual Obligation
ContractualObligation
28928000 USD
CY2021 cdev Oil And Gas Producing Activities Electricity Costs
OilAndGasProducingActivitiesElectricityCosts
7900000 USD
CY2021 cdev Water Disposal Costs
WaterDisposalCosts
2000000 USD
CY2020 cdev Water Disposal Costs
WaterDisposalCosts
2400000 USD
CY2019 cdev Water Disposal Costs
WaterDisposalCosts
2600000 USD
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1029892000 USD
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
580456000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
944330000 USD
CY2021Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
57300000 USD
CY2020Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
41700000 USD
CY2021Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0462
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.051
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y2M12D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y25D
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
3655000 USD
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
8117000 USD
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
173000 USD
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
4773000 USD
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
40002000 USD
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
41533000 USD
CY2021 us-gaap Lease Cost
LeaseCost
43830000 USD
CY2020 us-gaap Lease Cost
LeaseCost
54423000 USD
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
2917000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
6285000 USD
CY2021 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
0 USD
CY2020 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
1832000 USD
CY2021 cdev Rightof Use Asset Obtained In Derecognized From Exchange For Operating Lease Liability
RightofUseAssetObtainedInDerecognizedFromExchangeForOperatingLeaseLiability
14321000 USD
CY2020 cdev Rightof Use Asset Obtained In Derecognized From Exchange For Operating Lease Liability
RightofUseAssetObtainedInDerecognizedFromExchangeForOperatingLeaseLiability
-3843000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1603000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2395000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2452000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2522000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2341000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
10691000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
22004000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4589000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
17415000 USD
CY2021 dei Auditor Name
AuditorName
KPMG LLP
CY2021 dei Auditor Location
AuditorLocation
Denver, Colorado
CY2021 dei Auditor Firm
AuditorFirmId
185

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