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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income (loss) $ 120,028 $ 68,322 $ 135,976 $ 132,249  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Depreciation, depletion, and amortization 9,187 11,356 18,317 22,995  
Accretion of asset retirement obligations 337 321 669 638  
Amortization of deferred charges     550 536  
(Gain) loss on commodity derivative instruments (52,784) 5,547 3,217 16,837  
Net cash (paid) received on settlement of commodity derivative instruments     (465) 25,616  
Equity-based compensation     5,015 4,588  
Changes in operating assets and liabilities:          
Accrued revenue and accounts receivable     (8,948) 8,481  
Prepaid expenses and other current assets     (5,623) (737)  
Accounts payable, accrued liabilities, and other     (3,297) (5,990)  
Settlement of asset retirement obligations     (100) (368)  
NET CASH PROVIDED BY OPERATING ACTIVITIES     145,311 204,845  
CASH FLOWS FROM INVESTING ACTIVITIES          
Acquisitions of oil and natural gas properties     (37,990) (49,478)  
Additions to oil and natural gas properties     (326) (388)  
Additions to oil and natural gas properties leasehold costs     (4,620) (1,839)  
Purchases of other property and equipment     (151) (55)  
Proceeds from the sale of oil and natural gas properties     400 79  
NET CASH USED IN INVESTING ACTIVITIES     (42,687) (51,681)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Borrowings under credit facility     179,000 9,000  
Repayments under credit facility     (105,000) (9,000)  
Debt issuance costs and other     (62) (22)  
NET CASH USED IN FINANCING ACTIVITIES     (102,624) (196,777)  
NET CHANGE IN CASH AND CASH EQUIVALENTS     0 (43,613)  
CASH AND CASH EQUIVALENTS – beginning of the period     2,519 70,282 $ 70,282
CASH AND CASH EQUIVALENTS – end of the period $ 2,519 $ 26,669 2,519 26,669 $ 2,519
SUPPLEMENTAL DISCLOSURE          
Interest paid     2,939 719  
Common units issued for property acquisitions     7,417 1,039  
Common units          
CASH FLOWS FROM FINANCING ACTIVITIES          
Distributions to unitholders     (158,540) (178,913)  
Repurchases of common units     (3,289) (4,449)  
Preferred Units          
CASH FLOWS FROM FINANCING ACTIVITIES          
Distributions to unitholders     $ (14,733) $ (13,393)