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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities:    
Net Income (Loss) $ 64,919 $ 31,387
Adjustments to reconcile net income to net cash provided by operating activities:    
Oil and natural gas lease expirations 388 1,464
Depletion, depreciation, amortization and accretion 27,684 13,821
(Gain) loss on derivatives (14,420) 61,995
Settlements on derivative contracts (7,391) (44,158)
Amortization of deferred financing costs and discount 1,281 373
Share-based compensation expense 2,485 1,889
Deferred income tax expense 13,737 7,319
Other 236 0
Changes in operating assets and liabilities    
Accounts receivable (7,033) (14,820)
Prepaid expenses and other current assets (1,318) 1,861
Accounts payable and accrued liabilities 1,074 7,137
Inventory (1,715) 665
Revenue payable 6,098 5,794
Other current liabilities 2,695 773
Net Cash Provided by Operating Activities 88,720 75,500
Cash Flows from Investing Activities:    
Additions to oil and natural gas properties (83,023) (47,042)
Net assets acquired in business combination (325,094) 0
Acquisitions of oil and natural gas properties (5,443) 0
Contributions to equity method investment (3,566) 0
Additions to other property and equipment (277) (1,470)
Net Cash Used in Investing Activities (417,403) (48,512)
Cash Flows from Financing Activities:    
Deferred financing costs (6,214) (1,716)
Proceeds from revolving credit facility 178,000 4,000
Repayments under revolving credit facility (19,000) (8,000)
Proceeds from Senior Notes, net of discount 188,000 0
Repayments of Senior Notes (5,000) 0
Payment of common share dividends (13,363) (12,198)
Common stock repurchased for tax withholding (300) (591)
Net Cash Provided by (Used in) Financing Activities 322,123 (18,505)
Net Increase (Decrease) in Cash and Cash Equivalents (6,560) 8,483
Cash and Cash Equivalents, Beginning of Period 13,301 8,317
Cash and Cash Equivalents, End of Period 6,741 16,800
Cash Paid For:    
Interest, net of capitalized interest 9,060 793
Income taxes 3,688 162
Non-cash Investing and Financing Activities:    
Changes in capital expenditures in accounts payable and accrued liabilities (6,461) 11,047
Right of use assets obtained in exchange for operating lease liability (517) (1,624)
Assets contributed to equity method investment $ 2,272 0
Asset retirement obligations assumed in acquisitions   $ 0