XML 15 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net (loss) income $ (31,307) $ 18,063
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depletion, depreciation and accretion 26,238 30,861
Stock-based compensation, net 135 (545)
Unrealized loss (gain) on derivative contracts 15,327 (23,336)
Amortization/accretion of financing related costs 3,390 3,843
Accrued settlements on derivative contracts 774 (929)
Change in fair value of embedded derivative liability (1,365) (704)
Other 179 53
Change in assets and liabilities:    
Accounts receivable (445) 15,965
Prepaids and other 85 81
Accounts payable and accrued liabilities 20,730 (34,703)
Net cash provided by operating activities 33,741 8,649
Cash flows from investing activities:    
Oil and natural gas capital expenditures (44,849) (32,633)
Proceeds received from sale of oil and natural gas assets 7,015 1,189
Acquisition of oil and natural gas properties (47)  
Contract asset (7,795)  
Other operating property and equipment capital expenditures (17) (284)
Other (13) (11)
Net cash used in investing activities (45,706) (31,739)
Cash flows from financing activities:    
Repayments of borrowings (39,853) (15,043)
Payment of debt financing costs (129)  
Proceeds from issuance of preferred stock 38,849 24,375
Merger deposit 10,000  
Other   (454)
Net cash provided by financing activities 8,867 8,878
Net decrease in cash, cash equivalents and restricted cash (3,098) (14,212)
Cash, cash equivalents and restricted cash at beginning of period 57,619 32,816
Cash, cash equivalents and restricted cash at end of period 54,521 18,604
Supplemental cash flow information:    
Cash paid for interest $ 12,512 $ 14,561