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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 123 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Cash flows from operating activities:          
Net income (loss)     $ 2,845 $ 35,051  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Depletion, depreciation, and accretion $ 5,900 $ 3,383 14,760 10,439  
Stock-based compensation     1,585 1,155  
Settlement of asset retirement obligations     (19) (119)  
Deferred income taxes     124 (100)  
Unrealized (gain) loss on derivative contracts     1,063 (1,994)  
Accrued settlements on derivative contracts     94 (1,130)  
Other       (3)  
Changes in operating assets and liabilities:          
Receivables from crude oil, natural gas, and natural gas liquids revenues     (4,734) 16,483  
Prepaid expenses and other current assets     (1,425) (980)  
Accounts payable and accrued liabilities     814 (8,146)  
State and federal income taxes payable     (365) 1,063  
Net cash provided by operating activities     14,742 51,719  
Cash flows from investing activities:          
Acquisition of oil and natural gas properties     (43,788) (31)  
Capital expenditures for oil and natural gas properties     (8,353) (4,234)  
Net cash used in investing activities     (52,141) (4,265)  
Cash flows from financing activities:          
Common stock dividends paid     (12,037) (12,114) $ (114,400)
Common stock repurchases, including stock surrendered for tax withholding     (1,031) (3,983)  
Borrowings under senior secured credit facility     42,500    
Repayments of senior secured credit facility       (21,250)  
Net cash (used in) provided by financing activities     29,432 (37,347)  
Net increase (decrease) in cash and cash equivalents     (7,967) 10,107  
Cash and cash equivalents, beginning of period     11,034 8,280  
Cash and cash equivalents, end of period $ 3,067 $ 18,387 3,067 18,387 $ 3,067
Non-cash investing and financing transactions:          
Increase (decrease) in accrued capital expenditures for oil and natural gas properties     2,193 $ (141)  
Oil and natural gas property costs attributable to the recognition of asset retirement obligations     $ 90