v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income $ 106,358 $ 120,028 $ 119,630 $ 135,976  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Depreciation, depletion, and amortization 9,402 9,187 19,187 18,317  
Accretion of asset retirement obligations 393 337 782 669  
Amortization of deferred charges     525 550  
(Gain) loss on commodity derivative instruments, net (26,850) (52,784) 37,700 3,217  
Net cash (paid) received on settlement of commodity derivative instruments     (21,012) (465)  
Equity-based compensation     6,031 5,015  
Changes in operating assets and liabilities:          
Accrued revenue and accounts receivable     (5,516) (8,948)  
Prepaid expenses and other current assets     3,296 (5,623)  
Accounts payable, accrued liabilities, and other     (4,984) (3,297)  
Settlement of asset retirement obligations     (112) (100)  
NET CASH PROVIDED BY OPERATING ACTIVITIES     155,527 145,311  
CASH FLOWS FROM INVESTING ACTIVITIES          
Acquisitions of oil and natural gas properties     (45,904) (37,990)  
Additions to oil and natural gas properties     (344) (326)  
Additions to oil and natural gas properties leasehold costs     (6,296) (4,620)  
Purchases of other property and equipment     (355) (151)  
Proceeds from the sale of oil and natural gas properties     121 400  
NET CASH USED IN INVESTING ACTIVITIES     (52,778) (42,687)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Borrowings under credit facility     179,000 179,000  
Repayments under credit facility     (137,000) (105,000)  
Debt issuance costs and other     (36) (62)  
NET CASH USED IN FINANCING ACTIVITIES     (102,553) (102,624)  
NET CHANGE IN CASH AND CASH EQUIVALENTS     196 0  
Cash and cash equivalents – beginning of the period     1,478 2,519 $ 2,519
Cash and cash equivalents – end of the period $ 1,674 $ 2,519 1,674 2,519 $ 1,478
SUPPLEMENTAL DISCLOSURE          
Interest paid     6,643 2,939  
Common units issued for property acquisitions     2,800 7,417  
Common units          
CASH FLOWS FROM FINANCING ACTIVITIES          
Distributions to unitholders     (127,450) (158,540)  
Repurchases of common units     (2,335) (3,289)  
Preferred Units          
CASH FLOWS FROM FINANCING ACTIVITIES          
Distributions to unitholders     $ (14,732) $ (14,733)