Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.23.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 8,325 $ 7,259
Accounts receivable—oil, natural gas, and natural gas liquids sales 106,731 278,404
Accounts receivable—joint interest and other 12,364 21,478
Prepaid expenses and other current assets 8,173 7,621
Short-term derivative instruments 136,706 87,508
Total current assets 272,299 402,270
Property and equipment:    
Proved oil and natural gas properties 2,802,653 2,418,666
Unproved properties 196,947 178,472
Other property and equipment 8,120 6,363
Total property and equipment 3,007,720 2,603,501
Less: accumulated depletion, depreciation and amortization (784,635) (545,771)
Total property and equipment, net 2,223,085 2,057,730
Other assets:    
Long-term derivative instruments 32,687 26,525
Deferred tax asset 554,741 0
Operating lease assets 17,466 26,713
Other assets 36,668 21,241
Total other assets 641,562 74,479
Total assets 3,136,946 2,534,479
Current liabilities:    
Accounts payable and accrued liabilities 310,584 437,384
Short-term derivative instruments 50,947 343,522
Current portion of operating lease liabilities 12,932 12,414
Total current liabilities 374,463 793,320
Non-current liabilities:    
Long-term derivative instruments 54,020 118,404
Asset retirement obligation 34,270 33,171
Non-current operating lease liabilities 4,534 14,299
Long-term debt 644,324 694,155
Total non-current liabilities 737,148 860,029
Total liabilities 1,111,611 1,653,349
Commitments and contingencies (Note 9)
Mezzanine Equity:    
Preferred stock - $0.0001 par value, 110.0 thousand shares authorized, 45.3 thousand issued and outstanding at September 30, 2023, and 52.3 thousand issued and outstanding at December 31, 2022 45,329 52,295
Stockholders’ Equity:    
Common stock - $0.0001 par value, 42.0 million shares authorized, 18.7 million issued and outstanding at September 30, 2023, and 19.1 million issued and outstanding at December 31, 2022 2 2
Additional paid-in capital 379,102 449,243
Common stock held in reserve, 62.0 thousand shares at September 30, 2023, and 62.0 thousand shares at December 31, 2022 (1,996) (1,996)
Retained Earnings 1,603,339 381,872
Treasury stock, at cost - 3.7 thousand shares at September 30, 2023, and 3.9 thousand shares at December 31, 2022 (441) (286)
Total stockholders’ equity 1,980,006 828,835
Total liabilities, mezzanine equity and stockholders’ equity $ 3,136,946 $ 2,534,479