v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities:    
Net income $ 59,103 $ 52,306
Adjustments to reconcile net income to net cash provided by operating activities:    
Exploratory well costs and lease expirations 10 0
Depletion, depreciation, amortization and accretion 38,701 35,249
Impairment of oil and natural gas properties 1,214 0
(Gain) loss on derivatives, net (12,870) 17,436
Settlements on derivative contracts 6,266 (1,725)
Amortization of deferred financing costs and discount 2,373 2,632
Share-based compensation expense 4,054 4,973
Deferred income tax expense 3,040 5,073
Loss from equity method investment 248 25
Other (8) (42)
Changes in operating assets and liabilities    
Accounts receivable, net 9,116 (6,951)
Prepaid expenses (1,281) (186)
Inventory (1,989) 442
Other non-current assets, net (1,154) (302)
Accounts payable and accrued liabilities (10,243) (2,665)
Revenue payable (1,987) 1,931
Other current liabilities (10,572) (430)
Net Cash Provided by Operating Activities 84,021 107,766
Cash Flows from Investing Activities:    
Additions to oil and natural gas properties (40,938) (53,926)
Additions to midstream property and equipment (6,294) 0
Additions to other property and equipment (636) (430)
Acquisitions of oil and natural gas properties (2,138) (18,138)
Contributions to equity method investment (6,250) (15,162)
Funds held in escrow (14,201) 0
Net Cash Used in Investing Activities (70,457) (87,656)
Cash Flows from Financing Activities:    
Deferred financing costs (164) (69)
Proceeds from Credit Facility 30,000 15,000
Repayments under Credit Facility (16,000) (40,000)
Repayments of Senior Notes (10,000) (10,000)
Payment of common share dividends (16,121) (14,707)
Proceeds from issuance of common shares, net 0 25,415
Common stock repurchased for tax withholding (377) (158)
Net Cash Used in Financing Activities (12,662) (24,519)
Net Increase (Decrease) in Cash 902 (4,409)
Cash, Beginning of Period 13,124 15,319
Cash, End of Period 14,026 10,910
Cash Paid For:    
Interest, net of capitalized interest 11,187 16,372
Income taxes 14,784 10,773
Non-cash Investing and Financing Activities:    
Changes in capital expenditures in accounts payable and accrued liabilities 2,596 (2,699)
Transfer of inventory to oil and natural gas properties 2,307 0
Right-of-use assets obtained in exchange for operating lease liability 2,133 386
Asset retirement obligations assumed in acquisitions $ 0 $ 9,727