XML 17 R6.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 52,525 $ 24,524
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and depletion expense 61,576 71,191
Impairment of oil and natural gas properties 0 5,963
Amortization of right-of-use assets 171 173
Amortization of loan origination costs 1,113 1,060
Unit-based compensation 7,985 8,793
Forfeiture of restricted units (57)  
(Gain) loss on derivative instruments, net of settlements (1,535) 12,534
Changes in operating assets and liabilities:    
Oil, natural gas and NGL receivables (2,065) 5,802
Accounts receivable and other current assets 809 (689)
Accounts payable (941) (40)
Other current liabilities 7,034 2,804
Operating lease liabilities (141) (186)
Net cash provided by operating activities 126,474 131,929
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (552) (109)
Proceeds from sale of property and equipment 13  
Purchase of oil and natural gas properties (222,752) (22)
Net cash used in investing activities (223,291) (131)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from equity offering, net of issuance costs 163,575  
Redemption of Class B contributions on converted units (2) (317)
Redemption of Series A preferred units (179,908)  
Distribution to common unitholders (81,255) (68,675)
Distribution to OpCo unitholders (12,607) (19,679)
Distribution to Series A preferred unitholders (9,710) (9,763)
Distribution to Class B unitholders (28) (42)
Borrowings on long-term debt 254,136 4,960
Repayments on long-term debt (31,200) (33,400)
Payment of loan origination costs (747) (16)
Restricted units repurchased for tax withholding (5,081) (4,914)
Net cash provided by (used in) financing activities 97,173 (131,846)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 356 (48)
CASH AND CASH EQUIVALENTS, beginning of period 34,168 30,993
CASH AND CASH EQUIVALENTS, end of period 34,524 30,945
Supplemental cash flow information:    
Cash paid for interest 11,391 13,325
Cash paid for taxes 219  
Non-cash investing and financing activities:    
Deemed distribution to Series A preferred units 673 789
Distribution on Series A preferred units in accounts payable 2,431 4,848
Recognition of tenant improvement asset 63 $ 63
Right-of-use assets obtained in exchange for operating lease liabilities $ 1,224