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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 166,148 $ (26,387)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 100,789 50,434
Accretion of asset retirement obligations 1,105 593
Settlement of asset retirement obligations (475) (53)
Gain on sale of oil and gas properties 0 (348)
Gain on sale of office and other equipment (46) (114)
Total loss on derivative contracts, net 201,387 84,438
Operating portion of net cash paid in settlement of derivative contracts (110,785) (25,427)
Stock-based compensation - equity portion 4,994 7,741
Deferred income taxes 20,546 (794)
Amortization of deferred financing costs 2,069 339
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable (184,315) (4,181)
(Increase) decrease in prepaid expenses and other current assets (11,103) (114)
Increase (decrease) in accounts payable and accrued expenses 71,454 8,352
Increase (decrease) in revenues and royalties payable 85,570 1,795
Increase (decrease) in advances (9,661) (2,830)
Net cash provided by operating activities 337,677 93,444
Cash flows from investing activities:    
Acquisition of oil and gas properties, net of cash acquired (1,035,289) (187,803)
Additions to oil and gas properties (180,381) (28,238)
Additions to office and other equipment (1,356) (370)
Proceeds from sales of oil and gas properties 0 200
Net cash used in investing activities (1,217,026) (216,211)
Cash flows from financing activities:    
Proceeds from borrowings under Credit Agreement 1,471,572 360,078
Repayments of borrowings under Credit Agreement (1,396,572) (233,718)
Proceeds from issuance of 8% Senior Notes due 2027, net 537,250 0
Proceeds from issuance of Series A Convertible Preferred Stock, net of offering costs of $674 279,326 0
Cash paid related to the exchange and cancellation of Class A Common Stock (4,617) (2,821)
Cash paid for finance leases 0 (70)
Deferred financing costs (11,623) (1,718)
Net cash provided by financing activities 875,336 121,751
Net decrease in cash (4,013) (1,016)
Cash at beginning of period 4,013 1,494
Cash at end of period 0 478
Cash paid for:    
Interest 9,468 4,272
Income taxes 625 797
Non-cash investing and financing activities:    
Accrued capital expenditures 44,285 11,416
Lease asset additions - ASC 842 678 0
Asset retirement obligations 284 161
Chisholm Acquisition    
Non-cash investing and financing activities:    
Class A Common Stock issued in Acquisition 249,515 0
Bighorn Acquisition    
Non-cash investing and financing activities:    
Class A Common Stock issued in Acquisition 77,757 0
IRM Acquisition    
Non-cash investing and financing activities:    
Class A Common Stock issued in Acquisition $ 0 $ 76,572