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
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net loss $ (9,969) $ (51,461)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 70,136 76,410
Share-based compensation 18,505 4,961
Amortization of debt issuance costs 1,573 1,839
Loss on extinguishment of debt   15,015
Derivative loss (gain), net 26,430 (9,290)
Derivative premium payment (7,300)  
Derivative cash (settlements) receipts, net (13,528) 2,915
Deferred income tax benefit (53) (7,829)
Changes in operating assets and liabilities:    
Accounts receivable (8,569) 106
Prepaid expenses and other current assets (3,546) 785
Accounts payable, accrued liabilities and other (17,203) 7,293
Asset retirement obligation settlements (20,603) (15,978)
Net cash provided by operating activities 35,873 24,766
Investing activities:    
Investment in oil and natural gas properties and equipment (18,758) (17,087)
Acquisition of property interests   (711)
Proceeds from sale of oil and natural gas properties   11,916
Insurance proceeds   58,500
Purchases of furniture, fixtures and other (203) (114)
Net cash (used in) provided by investing activities (18,961) 52,504
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 (550) (550)
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 (94) (11,478)
Payment of dividends (3,106) (2,992)
Other (3,099) (422)
Net cash used in financing activities (6,849) (65,550)
Change in cash, cash equivalents and restricted cash 10,063 11,720
Cash, cash equivalents and restricted cash, beginning of year 140,620 110,555
Cash, cash equivalents and restricted cash, end of period $ 150,683 $ 122,275