v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net loss $ (51,461) $ (26,862)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 76,410 86,980
Share-based compensation 4,961 4,418
Amortization of debt issuance costs 1,839 2,336
Loss on extinguishment of debt 15,015  
Derivative gain, net (9,290) (2,503)
Derivative cash receipts, net 2,915 4,957
Deferred income benefit (7,829) (3,591)
Changes in operating assets and liabilities:    
Accounts receivable 106 (24,470)
Prepaid expenses and other current assets 785 (5,744)
Accounts payable, accrued liabilities and other 7,293 25,564
Asset retirement obligation settlements (15,978) (11,997)
Net cash provided by operating activities 24,766 49,088
Investing activities:    
Investment in oil and natural gas properties and equipment (17,087) (13,656)
Acquisition of property interests (711) (80,635)
Proceeds from sale of oil and natural gas properties 11,916  
Insurance proceeds 58,500  
Purchases of furniture, fixtures and other (114) (97)
Net cash provided by (used in) investing activities 52,504 (94,388)
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 (550) (550)
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 (11,478) (405)
Payment of dividends (2,992) (2,954)
Other (422) (754)
Net cash used in financing activities (65,550) (4,663)
Change in cash, cash equivalents and restricted cash 11,720 (49,963)
Cash, cash equivalents and restricted cash, beginning of year 110,555 177,755
Cash, cash equivalents and restricted cash, end of period $ 122,275 $ 127,792