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, 2023
Mar. 31, 2022
Operating activities:    
Net income (loss) $ 26,005 $ (2,457)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 30,134 30,911
Amortization and write off of debt issuance costs 3,249 2,594
Share-based compensation 1,922 520
Derivative (gain) loss (39,240) 79,997
Derivative cash (payments) receipts, net (5,328) (30,515)
Deferred income taxes 4,396 (733)
Changes in operating assets and liabilities:    
Oil and natural gas receivables 20,621 (37,774)
Joint interest receivables (3,116) (4,476)
Prepaid expenses and other assets 31,489 (12,183)
Income tax 4,243 44
Asset retirement obligation settlements (8,642) (5,492)
Cash advances from JV partners (21) (8,550)
Accounts payable, accrued liabilities and other (42,277) 15,651
Net cash provided by operating activities 23,435 27,537
Investing activities:    
Investment in oil and natural gas properties and equipment (7,367) (17,439)
Changes in operating assets and liabilities associated with investing activities (5,791) 2,630
Acquisition of property interests 0 (30,153)
Purchases of furniture, fixtures and other (156)  
Net cash used in investing activities (13,314) (44,962)
Financing activities:    
Issuance of 11.75% Senior Second Lien Notes 275,000  
Repayments on 9.75% Second Senior Lien Notes (552,460)  
Repayments on Term Loan (9,552) (12,630)
Debt issuance costs (6,354)  
Other (723) (269)
Net cash used in financing activities (294,089) (12,899)
Decrease in cash and cash equivalents (283,968) (30,324)
Cash and cash equivalents and restricted cash, beginning of period 465,774 250,216
Cash and cash equivalents and restricted cash, end of period $ 181,806 $ 219,892