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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net (loss) income $ (31,203) $ 22,811
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depletion, depreciation and accretion 13,025 16,148
Stock-based compensation, net 99 227
Unrealized loss (gain) on derivative contracts 19,761 (21,004)
Amortization/accretion of financing related costs 1,701 1,798
Accrued settlements on derivative contracts 1,433 (555)
Change in fair value of embedded derivative liability (928) (1,062)
Other 270 11
Change in assets and liabilities:    
Accounts receivable (1,278) 6,928
Prepaids and other (12) 103
Accounts payable and accrued liabilities 1,048 (26,094)
Net cash provided by (used in) operating activities 3,916 (689)
Cash flows from investing activities:    
Oil and natural gas capital expenditures (24,599) (28,611)
Proceeds received from sale of oil and natural gas assets   1,189
Contract asset (7,235)  
Other operating property and equipment capital expenditures (8) (269)
Other (6) (5)
Net cash used in investing activities (31,848) (27,696)
Cash flows from financing activities:    
Repayments of borrowings (10,026) (5,017)
Payment of debt financing costs (129)  
Proceeds from issuance of preferred stock 19,500 24,375
Merger deposit 10,000  
Other   (454)
Net cash provided by financing activities 19,345 18,904
Net decrease in cash, cash equivalents and restricted cash (8,587) (9,481)
Cash, cash equivalents and restricted cash at beginning of period 57,619 32,816
Cash, cash equivalents and restricted cash at end of period 49,032 23,335
Supplemental cash flow information:    
Cash paid for interest $ 6,571 $ 7,265