Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities:    
Net loss $ (23,618) $ (122,935)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 107,008 112,992
Share-based compensation 28,915 8,497
Amortization of debt issuance costs 2,374 2,605
Loss on extinguishment of debt   15,015
Derivative loss (gain), net 42,230 (13,398)
Derivative premium payment (7,300)  
Derivative cash (settlements) receipts, net (20,908) 14,169
Deferred income tax (benefit) expense (61) 48,808
Changes in operating assets and liabilities:    
Accounts receivable (20,462) 4,001
Prepaid expenses and other current assets (2,460) 674
Accounts payable, accrued liabilities and other (6,686) 5,748
Asset retirement obligation settlements (26,512) (24,873)
Net cash provided by operating activities 72,520 51,303
Investing activities:    
Investment in oil and natural gas properties and equipment (26,900) (38,881)
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 (248) (121)
Distribution from unconsolidated affiliate   927
Net cash (used in) provided by investing activities (27,148) 31,630
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 (8,825) (825)
Proceeds from issuance of New TVPX Loan 8,000  
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 (94) (11,478)
Proceeds from issuance of common stock 14,670  
Payment of dividends (4,687) (4,507)
Other (3,739) (764)
Net cash provided by (used in) financing activities 5,325 (67,141)
Change in cash, cash equivalents and restricted cash 50,697 15,792
Cash, cash equivalents and restricted cash, beginning of year 140,620 110,555
Cash, cash equivalents and restricted cash, end of period $ 191,317 $ 126,347