Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (87,112) $ (66,642)
Adjustments to reconcile Net loss to Net cash provided by (used in) operating activities:    
Depreciation, depletion and amortization 47,397 9,875
Amortization of debt issuance costs, discounts and fees 1,652 580
Share-based compensation 1,179 1,718
Share-based payments 0 616
Net unrealized loss on financial instruments not designated as hedges 10,346 13,472
Loss on extinguishment of debt, net 2,822 0
Other 2,142 555
Net changes in working capital (Note 15) 37,654 (43,672)
Net cash provided by (used in) operating activities 16,080 (83,498)
Cash flows from investing activities:    
Development of natural gas properties (95,231) (66,500)
Driftwood Project construction costs (112,565) (68,725)
Land purchases and land improvements 0 (17,425)
Investment in unconsolidated entity 0 (6,089)
Note receivable (18,000) 0
Capitalized internal use software and other assets (3,530) 0
Net cash used in investing activities (229,326) (158,739)
Cash flows from financing activities:    
Proceeds from common stock issuances 13,163 309,021
Equity issuance costs (399) (9,281)
Borrowing proceeds 0 501,178
Borrowing issuance costs 0 (11,488)
Borrowing principal repayments (166,666) 0
Other (344) (3,063)
Net cash (used in) provided by financing activities (154,246) 786,367
Net (decrease) increase in cash, cash equivalents and restricted cash (367,492) 544,130
Cash, cash equivalents and restricted cash, beginning of period 508,468 307,274
Cash, cash equivalents and restricted cash, end of period 140,976 851,404
Supplementary disclosure of cash flow information:    
Interest paid, net of capitalized interest $ 13,681 $ 4,928