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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net (loss) income $ (46,877) $ 44,017
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 4,256 3,833
Amortization of deferred financing fees 204  
Amortization of deferred financing fees 519  
Share-based compensation 72,572 (17,501)
Other   (18)
Changes in operating assets and liabilities:    
Accounts receivable 136 (4,697)
Related party receivable (1,825) 14
Prepaid expenses and other assets 482 (292)
Accounts payable (6) 629
Related party payable 33 (175)
Other current liabilities 3,764 (1,460)
Net cash provided by operating activities 33,258 24,350
Cash flows from investing activities    
Acquisitions (430,510)  
Capital expenditures (458) (2,400)
Proceeds from disposal of assets   11
Net cash used in investing activities (430,968) (2,389)
Cash flows from financing activities    
Contributions from member 120,000  
Distributions to member   (23,000)
Proceeds from term loan 265,000  
Proceeds from revolver 15,000  
Repayments on term loan (10,000) (8,250)
Debt issuance costs (3,404)  
Deferred offering costs (1,831)  
Other financing activities, net (232) (78)
Net cash provided by (used in) financing activities 384,533 (31,328)
Net decrease in cash and cash equivalents (13,177) (9,367)
Cash and cash equivalents and restricted cash - beginning of period 37,823 25,351
Cash and cash equivalents - end of period $ 24,646 $ 15,984