v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net loss $ (94,311) $ (32,021)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depletion, depreciation and accretion (Note 5) 132,208 140,837
Stock-based compensation expense (recovery) (21,072) (2,259)
Stock-based compensation expense (Note 8) 15,919 29
Amortization of debt issuance costs (Note 6) 13,015 7,915
Unrealized foreign exchange loss 2,663 4,801
(Gain) loss on bond repurchases and exchange (Note 6) (728) 90
Unrealized derivative instruments loss (gain) (Note 12) 31,432 (10,491)
Cash settlement of asset retirement obligation (1,510) (3,045)
Non-cash lease expenses 2,971 3,461
Non-cash interest expense 10,647 0
Lease payments (3,320) (3,112)
Net change in assets and liabilities from operating activities (Note 13) 142,234 1,702
Net cash provided by operating activities 230,148 107,907
Investing Activities    
Additions to property, plant and equipment (Note 5 and 13) (102,517) (153,971)
Proceeds on disposition of property, plant and equipment (Note 5) 57,944 0
Proceeds from assets exchange (Note 5) 583 0
Net cash used in investing activities (43,990) (153,971)
Financing Activities    
Proceeds from long-term debt, net of issuance costs 0 44,781
Repayment of long-term debt 0 (1,894)
Re-purchase of Senior Notes (Note 6) (8,087) (1,712)
Repayment of Senior Notes (Note 6) (125,000) (24,828)
Re-purchase of shares of Common Stock (Note 8) 0 (3,466)
Proceeds from exercise of stock options 748 22
Lease payments (8,347) (7,849)
Net cash (used in) provided by financing activities (140,686) 5,054
Foreign exchange loss on cash, cash equivalents and restricted cash and cash equivalents (297) (766)
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents 45,175 (41,776)
Cash and cash equivalents and restricted cash and cash equivalents, beginning of period (Note 13) 92,666 111,337
Cash and cash equivalents and restricted cash and cash equivalents, end of period (Note 13) $ 137,841 $ 69,561