Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities:    
Net loss $ (122,935) $ (63,783)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 112,992 129,034
Share-based compensation 8,497 6,374
Amortization of debt issuance costs 2,605 3,445
Loss on extinguishment of debt 15,015  
Derivative gain, net (13,398) (5,702)
Derivative cash receipts, net 14,169 6,165
Deferred income expense (benefit) 48,808 (8,136)
Changes in operating assets and liabilities:    
Accounts receivable 4,001 (2,557)
Prepaid expenses and other current assets 674 (3,242)
Accounts payable, accrued liabilities and other 5,748 22,602
Asset retirement obligation settlements (24,873) (20,344)
Net cash provided by operating activities 51,303 63,856
Investing activities:    
Investment in oil and natural gas properties and equipment (38,881) (23,233)
Acquisition of property interests (711) (80,635)
Proceeds from sale of oil and natural gas properties 11,916  
Insurance proceeds 58,500  
Purchases of furniture, fixtures and other (121) (166)
Distribution from unconsolidated affiliate 927  
Net cash provided by (used in) investing activities 31,630 (104,034)
Financing activities:    
Proceeds from issuance of 10.75% Senior Second Lien Notes 350,000  
Repayment of 11.75% Senior Second Lien Notes (269,830)  
Repayment of Term Loan (114,159)  
Repayments of TVPX Loan (825) (825)
Purchase of government securities in connection with legal defeasance of 11.75% Senior Second Lien Notes (5,348)  
Premium payments and debt extinguishment costs (10,230)  
Debt issuance costs (11,478) (579)
Payment of dividends (4,507) (4,427)
Other (764) (785)
Net cash used in financing activities (67,141) (6,616)
Change in cash, cash equivalents and restricted cash 15,792 (46,794)
Cash, cash equivalents and restricted cash, beginning of year 110,555 177,755
Cash, cash equivalents and restricted cash, end of period $ 126,347 $ 130,961