v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net loss $ (30,577) $ (11,474)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 41,283 41,906
Share-based compensation 2,087 3,032
Amortization of debt issuance costs 1,099 1,292
Loss on extinguishment of debt 15,015  
Derivative (gain) loss, net 2,757 (4,877)
Derivative cash (settlements) receipts, net (5,326) 2,599
Deferred income (benefit) taxes (5,517) 733
Changes in operating assets and liabilities:    
Accounts receivable (1,935) (17,362)
Prepaid expenses and other current assets 547 433
Accounts payable, accrued liabilities and other (18,858) (852)
Asset retirement obligation settlements (3,771) (3,788)
Net cash (used in) provided by operating activities (3,196) 11,642
Investing activities:    
Investment in oil and natural gas properties and equipment (6,665) (7,080)
Acquisition of property interests (400) (80,515)
Proceeds from sale of oil and natural gas properties 11,935  
Insurance proceeds 58,500  
Purchases of furniture, fixtures and other (103) (24)
Net cash provided by (used in) investing activities 63,267 (87,619)
Financing activities:    
Proceeds from issuance of 10.75% Senior Second Lien Notes 350,000  
Repayment of 11.75% Senior Second Lien Notes (269,830)  
Repayment of Term Loan (114,159)  
Repayments of TVPX Loan (275) (275)
Purchase of government securities in connection with legal defeasance of 11.75% Senior Second Lien Notes (5,889)  
Premium payments and debt extinguishment costs (10,230)  
Debt issuance costs (11,042) (312)
Payment of dividends (1,493) (1,469)
Other (223) (483)
Net cash used in financing activities (63,141) (2,539)
Change in cash, cash equivalents and restricted cash (3,070) (78,516)
Cash, cash equivalents and restricted cash, beginning of year 110,555 177,755
Cash, cash equivalents and restricted cash, end of period $ 107,485 $ 99,239