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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities:    
Net income $ 111,591 $ 118,011
Adjustments to reconcile net income to net cash provided by operating activities:    
Exploratory well costs and lease expirations 4,143 1,953
Depletion, depreciation, amortization and accretion 65,055 32,113
Impairment of proved properties 9,760 7,325
(Gain) loss on derivatives, net (6,193) 51,574
Settlements on derivative contracts (17,221) (75,257)
Amortization of deferred financing costs and discount 4,161 731
Share-based compensation expense 6,978 3,946
Deferred income tax expense 27,589 28,372
Other 193 0
Changes in operating assets and liabilities    
Accounts receivable (9,575) (7,549)
Prepaid expenses and other current assets (717) 5,250
Inventory (546) (6,235)
Other non-current assets (1,179) (12)
Accounts payable and accrued liabilities 3,200 2,860
Revenue payable 11,470 6,380
Other current liabilities (1,514) 826
Net Cash Provided by Operating Activities 207,195 170,288
Cash Flows from Investing Activities:    
Additions to oil and natural gas properties (134,796) (111,662)
Net assets acquired in business combination (324,686) 0
Acquisitions of oil and natural gas properties (5,443) 0
Acquisitions of land 0 (15,342)
Contributions to equity method investment (3,566) 0
Additions to other property and equipment (1,065) (1,252)
Net Cash Used in Investing Activities (469,556) (128,256)
Cash Flows from Financing Activities:    
Deferred financing costs (7,406) (1,942)
Proceeds from credit facility 185,000 22,000
Repayments under credit facility (56,000) (31,000)
Proceeds from senior notes, net of issuance costs 188,000 0
Repayments of senior notes (15,000) 0
Payment of common share dividends (27,706) (25,066)
Other 2 0
Common stock repurchased for tax withholding (2,511) (1,040)
Net Cash Provided by (Used in) Financing Activities 264,379 (37,048)
Net Increase (Decrease) in Cash and Cash Equivalents 2,018 4,984
Cash and Cash Equivalents, Beginning of Year 13,301 8,317
Cash and Cash Equivalents, End of Year 15,319 13,301
Cash Paid For:    
Interest, net of capitalized interest 27,140 1,749
Income taxes 9,949 3,611
Non-cash Investing and Financing Activities:    
Changes in capital expenditures in accounts payable and accrued liabilities (5,850) 15,229
Right of use assets obtained in exchange for operating lease liability 1,277 1,655
Assets contributed to equity method investment 2,272 0
Asset retirement obligations assumed in acquisitions $ 19,359 $ 0