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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 $ 82,083 $ 61,051
Adjustments to reconcile net income to net cash provided by operations:    
Exploration and abandonment expense 2,186 32
Depletion, depreciation and amortization expense 174,142 51,907
Accretion expense 238 120
Stock-based compensation expense 8,038 18,555
Amortization of debt issuance costs 5,704 1,781
Amortization of discounts on 10.000% Senior Notes and 10.625% Senior Notes 8,627 2,741
Derivative-related activity (6,017) 16,442
Deferred income taxes 24,151 23,760
Changes in operating assets and liabilities:    
Accounts receivable (4,378) (50,857)
Prepaid expenses, inventory and other assets 3,941 (2,571)
Accounts payable, accrued liabilities and other current liabilities 64,961 25,225
Net cash provided by operating activities 363,676 148,186
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to crude oil and natural gas properties (678,968) (403,177)
Changes in working capital associated with crude oil and natural gas property additions 74,736 105,476
Acquisitions of crude oil and natural gas properties (7,789) (250,448)
Deposit and other costs related to pending acquisitions (397) 0
Other property additions (103) (996)
Net cash used in investing activities (612,521) (549,145)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under Credit Agreement 255,000 380,000
Proceeds from exercises of warrants 1,728 7,750
Proceeds from exercises of stock options 148 120
Dividends paid (5,554) (4,959)
Debt issuance costs (1,399) (9,098)
Stock offering costs (748) (58)
Dividend equivalents paid (569) (427)
Proceeds from issuance of 10.000% Senior Notes, net of discount 0 210,179
Repayments under Credit Agreement 0 (195,000)
Net cash provided by financing activities 248,606 388,507
Net decrease in cash and cash equivalents (239) (12,452)
Cash and cash equivalents, beginning of period 30,504 34,869
Cash and cash equivalents, end of period 30,265 22,417
Supplemental cash flow information:    
Cash paid for interest 51,027 1,689
Cash paid for income taxes 0 0
Supplemental disclosure of non-cash transactions:    
Stock issued for acquisition 0 264,982
Additions to asset retirement obligations $ 186 $ 3,676