XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 15 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Cash Flows from Operating Activities:      
Net income $ 18,758 $ 31,851  
Adjustments to reconcile net income to net cash provided by operating activities:      
Exploratory well costs and lease expirations 0 332  
Depletion, depreciation, amortization and accretion 17,779 9,083  
(Gain) loss on derivatives, net 17,077 (5,755)  
Settlements on derivative contracts 104 (5,088)  
Amortization of deferred financing costs and discount 1,315 192  
Share-based compensation expense 1,692 1,260  
Deferred income tax expense 1,886 5,283  
Other (240) 232  
Changes in operating assets and liabilities      
Accounts receivable (3,457) 911  
Prepaid expenses and other current assets 205 (1,276)  
Other non-current assets (217) 0  
Accounts payable and accrued liabilities (170) (3,894)  
Inventory (174) (5,031)  
Revenue payable (582) 1,611  
Other current liabilities 2,149 3,259  
Net Cash Provided by Operating Activities 56,125 32,970  
Cash Flows from Investing Activities:      
Additions to oil and natural gas properties (34,939) (34,986)  
Contributions to equity method investment (5,619) (1,840)  
Funds held in escrow (1,926) (33,000)  
Additions to other property and equipment (124) (109)  
Net Cash Used in Investing Activities (42,608) (69,935)  
Cash Flows from Financing Activities:      
Deferred financing costs 0 (49)  
Proceeds from credit facility 0 33,000  
Repayments under credit facility (10,000) 0  
Repayments of Senior Notes (5,000) 0  
Payment of common share dividends (7,166) (6,778)  
Common stock repurchased for tax withholding (106) (234)  
Net Cash (Used in) Provided by Financing Activities (22,272) 25,939  
Net Decrease in Cash and Cash Equivalents (8,755) (11,026)  
Cash and Cash Equivalents, Beginning of Period 15,319 13,301 $ 13,301
Cash and Cash Equivalents, End of Period 6,564 2,275 $ 6,564
Cash Paid For:      
Interest, net of capitalized interest 8,324 788  
Non-cash Investing and Financing Activities:      
Changes in capital expenditures in accounts payable and accrued liabilities (4,210) 2,870  
Assets contributed to equity method investment $ 0 $ 2,272