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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cashflows from operating activities    
Net income (loss) $ 10,523,871 $ (7,915,516)
Adjustments to reconcile net income (loss) to cashflows from operating activities:    
Depreciation, depletion and amortization 18,106,581 9,191,057
Amortization of operating lease asset 46,455 27,767
Asset retirement obligation accretion expense 9,227 7,976
Share-based compensation 328,993 1,290,143
Amortization of deferred financing costs and unpaid interest 1,547,918 187,993
Unrealized loss on derivative instruments 3,077,079 13,815,573
Margin calls on derivative instruments, net 0 (5,342,657)
Changes in operating assets and liabilities 12,901,255 (29,483,694)
Cashflows from (used in) operating activities 46,541,379 (18,221,358)
Cashflows from investing activities    
Capital expenditures on oil and natural gas properties (28,992,460) (14,778,026)
Cashflows used in investing activities (28,992,460) (14,778,026)
Cashflows from financing activities    
Proceeds from Redeemable NCI 2,573,145 35,701,365
Redemption and distributions to Redeemable NCI (3,596,163) (475,000)
Proceeds from credit facility draws 12,538,462 23,429,339
Credit facility restructuring fees (78,453) 0
Repayment on credit facility 0 (12,700,000)
Repayment of asset backed preferred notes 0 (3,063,582)
Payment on ABS Facility (25,342,648) 0
Other long term debt repayment 0 (2,439,231)
Dividends on common shares and noncontrolling interest (3,438,283) (4,599,623)
Cash used for common share repurchases (972,354) 0
Cashflows from (used in) financing activities (18,316,294) 35,853,268
Net (decrease) increase in cash and cash equivalents and restricted cash (767,375) 2,853,884
Cash, cash equivalents and restricted cash, beginning of period 10,498,463 8,622,815
Cash, cash equivalents and restricted cash, end of period $ 9,731,088 $ 11,476,699