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, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (183,802) $ (87,112)
Adjustments to reconcile Net loss to Net cash used in operating activities:    
Depreciation, depletion and amortization 38,839 47,397
Amortization of DFC 6,809 1,652
Share-based compensation 0 1,179
Loss on sale of upstream assets (Note 4) 84,185 0
10% Senior Secured Notes paid in kind interest 5,391 0
Loss on financial instruments not designated as hedges 0 10,346
Change in fair value of embedded derivative 4,332 0
Loss on extinguishment of debt, net 15,473 2,822
Other 1,759 2,141
Net changes in working capital (Note 16) (16,165) 37,654
Net cash (used in) provided by operating activities (43,179) 16,080
Cash flows from investing activities:    
Acquisition and development of natural gas properties, net (9,625) (95,231)
Proceeds from sale of upstream assets 249,421 0
Driftwood Project construction costs (46,880) (112,565)
Note receivable 0 (18,000)
Capitalized internal use software and other assets (294) (3,530)
Net cash provided by (used in) investing activities 192,622 (229,326)
Cash flows from financing activities:    
Proceeds from common stock issuances 67,824 13,163
Equity issuance costs (950) (399)
Borrowing payments (239,329) (166,666)
Other (429) (344)
Net cash used in financing activities (172,884) (154,246)
Net decrease in cash, cash equivalents and restricted cash (23,441) (367,492)
Cash, cash equivalents and restricted cash, beginning of period 105,377 508,468
Cash, cash equivalents and restricted cash, end of period 81,936 140,976
Supplementary disclosure of cash flow information:    
Cash interest paid, net of capitalized interest $ (3,905) $ 13,681