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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:              
Net income $ 29,717 $ 6,438 $ 31,826 $ 50,257 $ 36,155 $ 82,083  
Adjustments to reconcile net income to net cash provided by operations:              
Provision for deferred income taxes         15,970 24,151  
Loss on derivative instruments, net 2,702   4,363   55,745 1,243  
Cash paid on settlement of derivative instruments (5,308)   (5,066)   (10,456) (7,260)  
Amortization of debt issuance costs         4,119 5,704  
Amortization of discounts on long-term debt         4,906 8,627  
Stock-based compensation expense         7,573 8,038  
Accretion expense         481 238  
Depletion, depreciation and amortization 127,693   93,011   258,543 174,142  
Exploration and abandonment expense         229 2,186  
Changes in operating assets and liabilities:              
Accounts receivable         7,038 (4,378)  
Prepaid expenses, inventory and other assets         (2,900) 3,941  
Accounts payable, accrued liabilities and other current liabilities         (3,633) 64,961  
Net cash provided by operating activities         373,770 363,676  
CASH FLOWS FROM INVESTING ACTIVITIES:              
Additions to crude oil and natural gas properties         (311,897) (678,968)  
Changes in working capital associated with crude oil and natural gas property additions         (5,226) 74,736  
Acquisitions of crude oil and natural gas properties         (7,415) (7,789)  
Proceeds from sales of properties         48 0  
Deposit and other costs related to pending acquisitions         0 (397)  
Other property additions         (122) (103)  
Net cash used in investing activities         (324,612) (612,521)  
CASH FLOWS FROM FINANCING ACTIVITIES:              
Repurchased shares under buyback program         14,551 (0)  
Dividends paid         (10,086) (5,554)  
Dividend equivalents paid         (1,068) (569)  
Debt issuance costs         (58) (1,399)  
Proceeds from exercises of warrants         1 1,728  
Proceeds from exercises of stock options         0 148  
Stock offering costs         0 (748)  
Net cash (used in) provided by financing activities         (85,762) 248,606  
Net (decrease) increase in cash and cash equivalents         (36,604) (239)  
Cash and cash equivalents, beginning of period   $ 194,515   $ 30,504 194,515 30,504 $ 30,504
Cash and cash equivalents, end of period $ 157,911   $ 30,265   157,911 30,265 $ 194,515
Supplemental cash flow information:              
Cash paid for interest         78,173 51,027  
Cash paid for income taxes         0 0  
Supplemental disclosure of non-cash transactions:              
Additions to asset retirement obligations         256 186  
Term Loan Credit Agreement [Member]              
CASH FLOWS FROM FINANCING ACTIVITIES:              
Repayments under Term Loan Credit Agreement         (60,000) 0  
Senior Credit Facility Agreement Due 2026 [Member]              
CASH FLOWS FROM FINANCING ACTIVITIES:              
Borrowings under Prior Credit Agreement         $ 0 $ 255,000