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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 40,395 $ 83,216
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation, depletion, and amortization 10,431 8,365
(Gain) loss on derivative contracts (1,447) 1,064
Realized settlement gains (losses) on derivative contracts 5,876 (1,085)
Stock-based compensation 946 754
Other 77 76
Changes in operating assets and liabilities 7,574 (13,234)
Net cash provided by operating activities 63,852 79,156
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures for property, plant and equipment (24,327) (11,959)
Acquisition of assets 0 (1,431)
Purchase of other property and equipment (31) (49)
Proceeds from sale of assets 1,334 306
Net cash used in investing activities (23,024) (13,133)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (73,823) 0
Reduction of financing lease liability (261) (197)
Proceeds from exercise of stock options 26 70
Tax withholdings paid in exchange for shares withheld on employee vested stock awards (211) (235)
Net cash used in financing activities (74,269) (362)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS and RESTRICTED CASH (33,441) 65,661
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year 257,468 139,524
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period 224,027 205,185
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest, net of amounts capitalized (54) (167)
Supplemental Disclosure of Noncash Investing and Financing Activities    
Capital expenditures for property, plant and equipment in accounts payables and accrued expenses 1,775 10,858
Right-of-use assets obtained in exchange for financing lease obligations 260 117
Inventory material transfers to oil and natural gas properties 1,205 0
Asset retirement obligation capitalized 12 0
Dividends Declared, Not Yet Paid $ (557) $ 0