Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS ??? UNAUDITED

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – UNAUDITED - USD ($)
3 Months Ended 6 Months Ended 9 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Cash flows from operating activities              
Net income (loss) $ 148,040,000 $ (20,661,000) $ 7,596,000 $ (20,021,000) $ 127,379,000 $ (12,425,000)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:              
(Gain) loss on extinguishment of debt 0   0   (2,157,000) 1,231,000  
Depreciation, depletion and amortization 54,290,000   28,795,000   105,183,000 52,679,000  
Impairments of oil and gas properties 0   0 1,800,000 0 1,811,000 $ 0
Derivative contracts:              
Net losses         212,829,000 98,595,000  
Cash settlements and premiums paid, net 74,514,000   16,634,000   103,922,000 23,803,000  
Deferred income tax expense (benefit)         144,000 (249,000)  
Non-cash interest expense         1,671,000 1,179,000  
Share-based compensation         2,973,000 3,208,000  
Other, net         (187,000) 9,000  
Changes in operating assets and liabilities, net         (45,029,000) 990,000  
Net cash provided by operating activities         298,884,000 123,225,000  
Cash flows from investing activities              
Capital expenditures         (174,244,000) (95,706,000)  
Acquisitions of oil and gas properties         (45,976,000) 0  
Deposits for the acquisitions of oil and gas properties         (6,411,000) 0  
Proceeds from sales of assets, net         622,000 153,000  
Net cash used in investing activities         (226,009,000) (95,553,000)  
Cash flows from financing activities              
Proceeds from credit facility borrowings         243,000,000 20,000,000  
Repayments of credit facility borrowings         (280,000,000) (95,500,000)  
Repayments of second lien term loan         0 (55,015,000)  
Repayments of acquired debt         (175,000) 0  
Payments for share repurchases         (24,127,000) 0  
Proceeds from redeemable common units         0 151,160,000  
Proceeds from redeemable preferred stock         0 2,000  
Transaction costs paid on behalf of Noncontrolling interest         0 (5,543,000)  
Issuance costs paid for Noncontrolling interest securities         0 (3,758,000)  
Withholding taxes for share-based compensation         (650,000) (514,000)  
Debt issuance costs paid         (154,000) (1,830,000)  
Net cash (used in) provided by financing activities         (62,106,000) 9,002,000  
Net increase in cash and cash equivalents         10,769,000 36,674,000  
Cash and cash equivalents – beginning of period   $ 23,681,000   $ 13,020,000 23,681,000 13,020,000  
Cash and cash equivalents – end of period $ 34,450,000   $ 49,694,000   34,450,000 49,694,000 $ 23,681,000
Cash paid for:              
Interest, net of amounts capitalized         21,096,000 9,638,000  
Non-cash investing and financing activities:              
Changes in property and equipment related to capital contributions         0 (38,561,000)  
Changes in accrued liabilities related to capital expenditures         $ 30,461,000 $ 22,891,000