Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.24.2.u1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 1,233 $ 1,929
Accounts receivable—oil, natural gas, and natural gas liquids sales 94,346 122,479
Accounts receivable—joint interest and other 21,210 22,221
Prepaid expenses and other current assets 6,239 16,951
Short-term derivative instruments 147,243 233,226
Total current assets 270,271 396,806
Property and equipment:    
Proved oil and natural gas properties 3,171,811 2,904,519
Unproved properties 218,399 204,233
Other property and equipment 10,810 9,165
Total property and equipment 3,401,020 3,117,917
Less: accumulated depletion, depreciation and amortization (1,024,142) (865,618)
Total property and equipment, net 2,376,878 2,252,299
Other assets:    
Long-term derivative instruments 38,220 47,566
Total assets 517,890 525,156
Operating lease assets 7,844 14,299
Other assets 27,140 31,487
Total other assets 591,094 618,508
Total assets 3,238,243 3,267,613
Current liabilities:    
Accounts payable and accrued liabilities 290,978 309,532
Short-term derivative instruments 43,838 21,963
Current portion of operating lease liabilities 6,888 12,959
Total current liabilities 341,704 344,454
Non-current liabilities:    
Long-term derivative instruments 20,941 18,602
Asset retirement obligation 31,438 29,941
Non-current operating lease liabilities 956 1,340
Long-term debt 679,503 667,382
Total non-current liabilities 732,838 717,265
Total liabilities 1,074,542 1,061,719
Commitments and contingencies (Note 9)
Mezzanine equity:    
Preferred stock - $0.0001 par value, 110.0 thousand shares authorized, 43.8 thousand issued and outstanding at June 30, 2024, and 44.2 thousand issued and outstanding at December 31, 2023 43,788 44,214
Stockholders’ equity:    
Common stock - $0.0001 par value, 42.0 million shares authorized, 18.1 million issued and outstanding at June 30, 2024, and 18.3 million issued and outstanding at December 31, 2023 2 2
Additional paid-in capital 249,038 315,726
Common Stock, Value, Held For Future Issuance 0 (1,996)
Retained earnings 1,871,571 1,847,948
Treasury stock, at cost - 4.6 thousand shares at June 30, 2024 and 0 shares at December 31, 2023 (698) 0
Total stockholders’ equity 2,119,913 2,161,680
Total liabilities, mezzanine equity and stockholders’ equity $ 3,238,243 $ 3,267,613