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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 18 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Cash Flows from Operating Activities:              
Net income $ 33,548 $ 18,758 $ 33,068 $ 31,851 $ 52,306 $ 64,919  
Adjustments to reconcile net income to net cash provided by operating activities:              
Exploratory well costs and lease expirations         0 388  
Depletion, depreciation, amortization and accretion 17,470   18,601   35,249 27,684  
(Gain) loss on derivatives, net 359   (8,665)   17,436 (14,420)  
Settlements on derivative contracts (1,829)   (2,303)   (1,725) (7,391)  
Amortization of deferred financing costs and discount         2,632 1,281  
Share-based compensation expense         4,973 2,485  
Deferred income tax expense 3,187   8,454   5,073 13,737  
Loss from equity method investment 192   4   25 236  
Other         (42) 0  
Changes in operating assets and liabilities              
Accounts receivable         (6,951) (7,033)  
Prepaid expenses and other current assets         (186) (1,318)  
Other non-current assets         (302) 0  
Accounts payable and accrued liabilities         (2,665) 1,074  
Inventory         442 (1,715)  
Revenue payable         1,931 6,098  
Other current liabilities         (430) 2,695  
Net Cash Provided by Operating Activities         107,766 88,720  
Cash Flows from Investing Activities:              
Additions to oil and natural gas properties         (53,926) (83,023)  
Net assets acquired in business combination         0 (325,094)  
Acquisitions of oil and natural gas properties         (18,138) (5,443)  
Contributions to equity method investment         (15,162) (3,566)  
Additions to other property and equipment         (430) (277)  
Net Cash Used in Investing Activities         (87,656) (417,403)  
Cash Flows from Financing Activities:              
Deferred financing costs         (69) (6,214)  
Proceeds from credit facility         15,000 178,000  
Repayments under credit facility         (40,000) (19,000)  
Proceeds from Senior Notes, net of discount         0 188,000  
Repayments of Senior Notes         (10,000) (5,000)  
Payment of common share dividends         (14,707) (13,363)  
Proceeds from issuance of common shares, net         25,415 0  
Common stock repurchased for tax withholding         (158) (300)  
Net Cash (Used in) Provided by Financing Activities         (24,519) 322,123  
Net Decrease in Cash         (4,409) (6,560)  
Cash, Beginning of Period   $ 15,319   $ 13,301 15,319 13,301 $ 13,301
Cash, End of Period $ 10,910   $ 6,741   10,910 6,741 $ 10,910
Cash Paid For:              
Interest, net of capitalized interest         16,372 9,060  
Income taxes, net of refunds         10,773 3,688  
Non-cash Investing and Financing Activities:              
Changes in capital expenditures in accounts payable and accrued liabilities         (2,699) (6,461)  
Right of use assets obtained in exchange for operating lease liability         386 (517)  
Assets contributed to equity method investment         0 2,272  
Asset retirement obligations assumed in acquisitions         $ 9,727 $ 19,359