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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net (loss) income $ (3,048) $ 18,539
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depletion, depreciation and accretion 56,624 51,915
Deferred income tax provision (benefit) 0 0
Stock-based compensation, net (1,070) 2,210
Unrealized gain on derivative contracts (21,934) (20,256)
Amortization/accretion of financing related costs 7,615 5,448
Reorganization items, net   (744)
Accrued settlements on derivative contracts 259 4,302
Change in fair value of embedded derivative liability (2,052) (1,819)
Other expense (income) 358 (77)
Change in assets and liabilities:    
Accounts receivable 15,658 594
Prepaids and other 202 234
Accounts payable and accrued liabilities (35,023) 18,455
Net cash provided by operating activities 17,589 78,801
Cash flows from investing activities:    
Oil and natural gas capital expenditures (46,288) (125,465)
Proceeds received from sales of oil and natural gas assets 4,929 332
Other operating property and equipment capital expenditures (153) (1,160)
Contract asset (10,308)  
Other (25) 163
Net cash used in investing activities (51,845) (126,130)
Cash flows from financing activities:    
Proceeds from borrowings   35,200
Repayments of borrowings (35,093) (95)
Payment of deferred financing costs   (2,887)
Proceeds from issuance of preferred stock 94,607  
Other (455) (432)
Net cash provided by financing activities 59,059 31,786
Net increase (decrease) in cash, cash equivalents and restricted cash 24,803 (15,543)
Cash, cash equivalents and restricted cash at beginning of period 32,816 48,359
Cash, cash equivalents and restricted cash at end of period 57,619 32,816
Supplemental cash flow information:    
Cash paid for interest 28,709 19,933
Cash paid for reorganization items   744
Disclosure of non-cash investing and financing activities:    
Asset retirement obligations 1,308 3,692
Accrued capital expenditures (4,381) $ 14,883
Contract asset costs in accounts payable and accrued liabilities 4,753  
Deemed dividends on Series A preferred stock 12,047  
Accrued offering costs $ (119)