v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net income $ 16,041 $ 187,700
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 102,660 99,384
Share-based compensation 7,259 5,179
Amortization and write off of debt issuance costs 5,714 6,114
Derivative (gain) loss (41,560) 109,892
Derivative cash payments, net (6,123) (1,022)
Derivative cash premium payments   (46,111)
Deferred income taxes 14,647 40,171
Changes in operating assets and liabilities:    
Oil and natural gas receivables 17,624 (34,276)
Joint interest receivables (2,049) (7,070)
Prepaid expenses and other current assets 25,550 (26,816)
Accounts payable, accrued liabilities and other (34,475) 65,566
Asset retirement obligation settlements (24,918) (61,285)
Cash advances from JV partners (74) (12,055)
Income taxes payable (634) 1,480
Net cash provided by operating activities 79,662 326,851
Investing activities:    
Investment in oil and natural gas properties and equipment (30,959) (29,966)
Changes in operating assets and liabilities associated with investing activities 1,285 (8,237)
Acquisition of property interests (28,863) (51,474)
Deposit related to acquisition of property interests (8,850)  
Purchase of corporate aircraft (Note 13) (8,983)  
Purchases of furniture, fixtures and other (3,081)  
Net cash used in investing activities (79,451) (89,677)
Financing activities:    
Repayment of 9.75% Senior Second Lien Notes due 2023 (552,460)  
Repayment of Term Loan (26,329) (33,837)
Repayment of TVPX Loan (458)  
Proceeds from issuance of 11.75% Senior Second Lien Notes due 2026 275,000  
Debt issuance costs (7,380) (1,290)
Other (948) (716)
Net cash used in financing activities (312,575) (35,843)
Change in cash, cash equivalents and restricted cash (312,364) 201,331
Cash and cash equivalents and restricted cash, beginning of period 465,774 250,216
Cash and cash equivalents and restricted cash, end of period $ 153,410 $ 451,547

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