Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 5 Months Ended 7 Months Ended 12 Months Ended
May 17, 2021
Dec. 31, 2021
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:        
Net income (loss) $ 250,994,000 $ (112,829,000) $ 1,470,916,000 $ 494,701,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depletion, depreciation and amortization 62,764,000 160,913,000 319,715,000 267,761,000
Impairment of oil and natural gas properties 0 117,813,000 0 0
Impairment of other property and equipment 14,568,000 0 0 0
Loss from equity investments 342,000 0 0 0
Loss on debt extinguishment 0 3,040,000 0 0
Net (gain) loss on derivative instruments 137,239,000 556,819,000 (740,319,000) 999,747,000
Net cash receipts (payments) on settled derivative instruments (3,361,000) (322,857,000) 152,199,000 (1,053,810,000)
Non-cash reorganization items, net (446,012,000) 0 0 0
Deferred income tax benefit 0 0 (525,156,000) 0
Stock-based compensation expense 1,165,000 2,045,000 9,480,000 5,723,000
Other, net 562,000 1,085,000 7,645,000 5,528,000
Changes in operating assets and liabilities, net 153,894,000 (113,044,000) 28,701,000 19,427,000
Net cash provided by operating activities 172,155,000 292,985,000 723,181,000 739,077,000
Cash flows from investing activities:        
Additions to oil and natural gas properties (102,330,000) (207,113,000) (537,360,000) (460,780,000)
Proceeds from sale of oil and natural gas properties 15,000 4,339,000 2,659,000 3,360,000
Other, net 4,484,000 2,669,000 (2,526,000) (875,000)
Net cash used in investing activities (97,831,000) (200,105,000) (537,227,000) (458,295,000)
Cash flows from financing activities:        
Debt issuance costs and loan commitment fees (7,100,000) (8,783,000) (7,068,000) (234,000)
Dividends on Preferred Stock 0 (1,503,000) (4,840,000) (5,444,000)
Proceeds from issuance of Preferred Stock 50,000,000 0 0 0
Other, net (8,000) 0 (3,211,000) (1,623,000)
Net cash used in financing activities (104,768,000) (149,037,000) (191,284,000) (276,783,000)
Net (decrease) increase in cash and cash equivalents (30,444,000) (56,157,000) (5,330,000) 3,999,000
Cash and cash equivalents at beginning of period 89,861,000 59,417,000 7,259,000 3,260,000
Cash and cash equivalents at end of period 59,417,000 3,260,000 1,929,000 7,259,000
Nonrelated Party        
Cash flows from financing activities:        
Repurchase of Common Stock under Repurchase Program 0 0 (108,735,000) (250,482,000)
Related Party        
Cash flows from financing activities:        
Repurchase of Common Stock under Repurchase Program 0 0 (40,430,000) 0
New Credit Facility        
Cash flows from financing activities:        
Repayments of lines of credit 0 (477,000,000) (998,000,000) (2,082,000,000)
Proceeds from lines of credit 0 641,000,000 971,000,000 2,063,000,000
Exit Facility        
Cash flows from financing activities:        
Repayments of lines of credit 0 (709,028,000) 0 0
Proceeds from lines of credit 302,751,000 406,277,000 0 0
DIP Credit Facility        
Cash flows from financing activities:        
Repayments of lines of credit (157,500,000) 0 0 0
Revolving credit facility        
Cash flows from financing activities:        
Repayments of lines of credit (318,961,000) 0 0 0
Proceeds from lines of credit $ 26,050,000 $ 0 $ 0 $ 0