Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (44,014) $ (27,493)
Adjustments to reconcile Net loss to Net cash used in operating activities:    
Depreciation, depletion and amortization 21,234 22,187
Amortization of DFC 3,338 946
Share-based compensation 0 493
Loss on financial instruments not designated as hedges 0 (546)
Change in fair value of embedded derivative 4,103 0
Loss on extinguishment of debt, net 4,591 2,822
Other 2,516 1,773
Net changes in working capital (Note 15) (287) (10,343)
Net cash used in operating activities (8,519) (10,160)
Cash flows from investing activities:    
Acquisition and development of natural gas properties, net (6,487) (65,687)
Driftwood Project construction costs (26,325) (62,479)
Note receivable 0 (18,000)
Capitalized internal use software and other assets (1,412) (1,303)
Net cash used in investing activities (34,224) (147,468)
Cash flows from financing activities:    
Proceeds from common stock issuances 18,292 0
Equity issuance costs (454) 0
Borrowing payments (4,000) (166,666)
Other (213) (143)
Net cash provided by (used in) financing activities 13,625 (166,809)
Net decrease in cash, cash equivalents and restricted cash (29,118) (324,437)
Cash, cash equivalents and restricted cash, beginning of period 105,377 508,468
Cash, cash equivalents and restricted cash, end of period 76,259 184,031
Supplementary disclosure of cash flow information:    
Cash interest paid, net of capitalized interest $ (5,155) $ 8,477