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
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income $ (11,474) $ 26,005
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 41,906 30,134
Share-based compensation 3,032 1,922
Amortization and write off of debt issuance costs 1,292 3,249
Derivative gain, net (4,877) (39,240)
Derivative cash settlements, net 2,599 (5,328)
Deferred income taxes 733 4,396
Changes in operating assets and liabilities:    
Accounts receivable (17,362) 17,505
Prepaid expenses and other current assets 433 31,489
Accounts payable, accrued liabilities and other (852) (38,055)
Asset retirement obligation settlements (3,788) (8,642)
Net cash provided by operating activities 11,642 23,435
Investing activities:    
Investment in oil and natural gas properties and equipment (7,080) (13,158)
Acquisition of property interests (80,515)  
Purchases of furniture, fixtures and other (24) (156)
Net cash used in investing activities (87,619) (13,314)
Financing activities:    
Proceeds from issuance of 11.75% Notes Senior Second Lien Notes   275,000
Repayment of 9.75% Second Senior Lien Notes   (552,460)
Repayments of Term Loan   (9,552)
Repayments of TVPX Loan (275)  
Debt issuance costs (312) (6,354)
Payment of dividends (1,469)  
Other (483) (723)
Net cash used in financing activities (2,539) (294,089)
Change in cash, cash equivalents and restricted cash (78,516) (283,968)
Cash, cash equivalents and restricted cash, beginning of year 177,755 465,774
Cash, cash equivalents and restricted cash, end of period $ 99,239 $ 181,806