Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities:    
Net loss $ (22,530) $ (30,577)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation, depletion, amortization and accretion 35,782 41,283
Share-based compensation 7,443 2,087
Amortization of debt issuance costs 779 1,099
Loss on extinguishment of debt   15,015
Derivative loss, net 24,513 2,757
Derivative cash receipts (settlements), net 318 (5,326)
Deferred income tax benefit (27) (5,517)
Changes in operating assets and liabilities:    
Accounts receivable (15,887) (1,935)
Prepaid expenses and other current assets (2,914) 547
Accounts payable, accrued liabilities and other (7,760) (18,858)
Asset retirement obligation settlements (17,166) (3,771)
Net cash provided by (used in) operating activities 2,551 (3,196)
Investing activities:    
Investment in oil and natural gas properties and equipment (10,127) (6,665)
Acquisition of property interests   (400)
Proceeds from sale of oil and natural gas properties   11,935
Insurance proceeds   58,500
Purchases of furniture, fixtures and other (203) (103)
Net cash (used in) provided by investing activities (10,330) 63,267
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 (275) (275)
Purchase of government securities in connection with legal defeasance of 11.75% Senior Second Lien Notes   (5,889)
Premium payments and debt extinguishment costs   (10,230)
Debt issuance costs (159) (11,042)
Payment of dividends (1,488) (1,493)
Other   (223)
Net cash used in financing activities (1,922) (63,141)
Change in cash, cash equivalents and restricted cash (9,701) (3,070)
Cash, cash equivalents and restricted cash, beginning of year 140,620 110,555
Cash, cash equivalents and restricted cash, end of period $ 130,919 $ 107,485