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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 15,221,000 $ 42,900,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, and amortization 89,433,000 67,306,000
Deferred income tax expense 5,368,000 4,689,000
Abandonment and impairment of unproved properties 2,215,000 30,589,000
Stock-based compensation 6,096,000 4,436,000
Non-cash lease component 14,000 (168,000)
Amortization of deferred financing costs 963,000 772,000
Derivative (gain) loss 133,613,000 (64,603,000)
Derivative cash settlement gain (loss) (50,536,000) 42,494,000
(Gain) loss on property transactions, net (951,000) 1,398,000
Other 0 (1,166,000)
Changes in current assets and liabilities:    
Accounts receivable, net (17,050,000) 24,262,000
Prepaid expenses and other assets 2,244,000 3,364,000
Accounts payable and accrued liabilities 9,504,000 (41,692,000)
Settlement of asset retirement obligations (3,891,000) (3,137,000)
Net cash provided by operating activities 192,243,000 111,444,000
Cash flows from investing activities:    
Acquisition of oil and gas properties (620,000) (853,000)
Cash acquired 49,827,000 0
Exploration and development of oil and gas properties (104,207,000) (56,216,000)
Additions to other property and equipment (72,000) (440,000)
Proceeds from note receivable 204,000 0
Net cash used in investing activities (54,868,000) (57,509,000)
Cash flows from financing activities:    
Proceeds from credit facility 155,000,000 45,000,000
Payments to credit facility (249,000,000) (105,000,000)
Proceeds from exercise of stock options 716,000 0
Payment of employee tax withholdings in exchange for the return of common stock (2,890,000) (1,074,000)
Dividends paid (21,598,000) 0
Deferred financing costs (3,915,000) (13,000)
Principal payments on finance lease obligations (21,000) (71,000)
Net cash used in financing activities (121,708,000) (61,158,000)
Net change in cash, cash equivalents, and restricted cash 15,667,000 (7,223,000)
Cash, cash equivalents, and restricted cash:    
Beginning of period 24,845,000 11,095,000
End of period 40,512,000 3,872,000
Supplemental cash flow disclosure    
Cash paid for interest, net of capitalization [1] 1,684,000 1,472,000
Receivables exchanged for additional interests in oil and gas properties [1] 0 8,299,000
Changes in working capital related to drilling expenditures [1] $ (22,175,000) $ 610,000
[1] (1) Refer to Note 4 - Leases in the notes to the condensed consolidated financial statements for supplemental cash flows related to leases.