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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 224,980 $ 274,902
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion, and amortization 34,253 33,935
Accretion of asset retirement obligations 962 749
Amortization of deferred charges 807 775
(Gain) loss on commodity derivative instruments (14,838) (36,652)
Net cash (paid) received on settlement of commodity derivative instruments 36,480 65,658
Equity-based compensation 6,765 8,412
(Gain) loss on sale of assets, net 0 (73)
Changes in operating assets and liabilities:    
Accounts receivable 14,206 48,146
Prepaid expenses and other current assets 293 (74)
Accounts payable, accrued liabilities, and other (5,161) (8,435)
Settlement of asset retirement obligations (660) (208)
NET CASH PROVIDED BY OPERATING ACTIVITIES 298,087 387,135
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisitions of oil and natural gas properties (64,180) (932)
Additions to oil and natural gas properties (688) (3,720)
Additions to oil and natural gas properties leasehold costs (1,840) (9)
Purchases of other property and equipment (314) (358)
Proceeds from the sale of oil and natural gas properties 2,795 73
NET CASH USED IN INVESTING ACTIVITIES (64,227) (4,946)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings under credit facility 33,000 64,000
Repayments under credit facility (33,000) (74,000)
Debt issuance costs and other (50) (142)
NET CASH USED IN FINANCING ACTIVITIES (283,179) (330,466)
NET CHANGE IN CASH AND CASH EQUIVALENTS (49,319) 51,723
CASH AND CASH EQUIVALENTS – beginning of the period 70,282 4,307
CASH AND CASH EQUIVALENTS – end of the period 20,963 56,030
SUPPLEMENTAL DISCLOSURE    
Interest paid 1,180 1,330
Common units    
CASH FLOWS FROM FINANCING ACTIVITIES    
Distributions to unitholders (257,921) (299,078)
Repurchases of common units (4,449) (5,496)
Series B Cumulative Convertible Preferred Units    
CASH FLOWS FROM FINANCING ACTIVITIES    
Distributions to unitholders $ (20,759) $ (15,750)