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
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 13,896 $ 120,979
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 66,028 65,271
Amortization and write off of debt issuance costs 4,363 4,365
Share-based compensation 4,009 2,534
Derivative (gain) loss (40,069) 71,143
Derivative cash (payments) receipts, net (4,427) 70,227
Derivative cash premium payments   (46,111)
Deferred income taxes 11,580 27,031
Changes in operating assets and liabilities:    
Oil and natural gas receivables 24,804 (44,236)
Joint interest receivables 125 (3,625)
Prepaid expenses and other assets 26,992 (30,092)
Income tax (2,345) 3,223
Asset retirement obligation settlements (11,841) (39,775)
Cash advances from JV partners (71) (9,813)
Accounts payable, accrued liabilities and other (43,412) 46,638
Net cash provided by operating activities 49,632 237,759
Investing activities:    
Investment in oil and natural gas properties and equipment (22,999) (25,489)
Changes in operating assets and liabilities associated with investing activities (2,338) (5,786)
Acquisition of property interests   (47,625)
Purchase of corporate aircraft (Note 12) (8,983)  
Purchases of furniture, fixtures and other (218)  
Net cash used in investing activities (34,538) (78,900)
Financing activities:    
Repayment of Note Payable (183)  
Issuance of 11.75% Senior Second Lien Notes 275,000  
Repayments on 9.75% Second Senior Lien Notes (552,460)  
Repayments on Term Loan (19,181) (24,941)
Debt issuance costs (7,252) (1,290)
Other (748) (703)
Net cash used in financing activities (304,824) (26,934)
(Decrease) increase in cash and cash equivalents (289,730) 131,925
Cash and cash equivalents and restricted cash, beginning of period 465,774 250,216
Cash and cash equivalents and restricted cash, end of period $ 176,044 $ 382,141