v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 54,241 $ 52,525
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and depletion expense 59,505 61,576
Amortization of right-of-use assets 182 171
Amortization of loan origination costs 1,004 1,113
Unit-based compensation 8,423 7,985
Forfeiture of restricted units   (57)
Loss (gain) on derivative instruments, net of settlements 9,497 (1,535)
Changes in operating assets and liabilities:    
Oil, natural gas and NGL receivables (17,103) (2,065)
Accounts receivable and other current assets (467) 809
Accounts payable 933 (941)
Other current liabilities 1,692 7,034
Operating lease liabilities (173) (141)
Net cash provided by operating activities 117,734 126,474
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (96) (552)
Proceeds from sale of property and equipment   13
Purchase of oil and natural gas properties (44,263) (222,752)
Net cash used in investing activities (44,359) (223,291)
CASH FLOWS FROM FINANCING ACTIVITIES    
Common units repurchased under buyback program (14,670)  
Proceeds from equity offering, net of issuance costs   163,575
Contributions from Class B unitholders 346  
Redemption of Class B contributions on converted units (268) (2)
Redemption of Series A preferred units   (179,908)
Distribution to common unitholders (77,319) (81,255)
Distribution to OpCo unitholders (7,001) (12,607)
Distribution to Series A preferred unitholders (4,862) (9,710)
Distribution to Class B unitholders (18) (28)
Borrowings on long-term debt 65,100 254,136
Repayments on long-term debt (27,900) (31,200)
Payment of loan origination costs (644) (747)
Restricted units repurchased for tax withholding (5,185) (5,081)
Net cash (used in) provided by financing activities (72,421) 97,173
NET INCREASE IN CASH AND CASH EQUIVALENTS 954 356
CASH AND CASH EQUIVALENTS, beginning of period 43,977 34,168
CASH AND CASH EQUIVALENTS, end of period 44,931 34,524
Supplemental cash flow information:    
Cash paid for interest 15,561 11,391
Cash paid for taxes 4,750 219
Non-cash investing and financing activities:    
Units issued in exchange for oil and natural gas properties 101,856  
Deemed distribution to Series A preferred units 391 673
Distribution on Series A preferred units in accounts payable $ 2,431 2,431
Recognition of tenant improvement asset   63
Right-of-use assets obtained in exchange for operating lease liabilities   $ 1,224