Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net income (loss) $ 120,979 $ (52,418)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 65,271 57,589
Amortization of debt items and other items 4,365 2,967
Share-based compensation 2,534 921
Derivative loss 71,143 106,020
Derivative cash receipts (payments), net 70,227 (41,130)
Derivative cash premium payments (46,111)  
Deferred income taxes 27,031 (13,006)
Changes in operating assets and liabilities:    
Oil and natural gas receivables (44,236) (11,390)
Joint interest receivables (3,625) (910)
Prepaid expenses and other assets (30,092) (17,605)
Income tax 3,223 (92)
Asset retirement obligation settlements (39,775) (11,213)
Cash advances from JV partners (9,813) (3,925)
Accounts payable, accrued liabilities and other 46,638 30,386
Net cash provided by operating activities 237,759 46,194
Investing activities:    
Investment in oil and natural gas properties and equipment (25,489) (5,854)
Changes in operating assets and liabilities associated with investing activities (5,786) (3,078)
Acquisition of property interests (47,625) 0
Net cash used in investing activities (78,900) (8,932)
Financing activities:    
Repayments on credit facility   (80,000)
Proceeds from Term Loan   215,000
Repayments on Term Loan (24,941)  
Debt issuance costs (1,290) (6,840)
Other (703)  
Net cash (used in) provided by financing activities (26,934) 128,160
Increase in cash and cash equivalents 131,925 165,422
Cash and cash equivalents and restricted cash, beginning of period 250,216 43,726
Cash and cash equivalents and restricted cash, end of period $ 382,141 $ 209,148