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
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (27,493) $ (66,606)
Adjustments to reconcile Net loss to net cash used in operating activities:    
Depreciation, depletion and amortization 22,187 4,021
Amortization of debt issuance costs, discounts and fees 946 61
Share-based compensation 493 906
Share-based payments 0 396
Unrealized (gain) loss on financial instruments not designated as hedges (546) 20,262
Loss on extinguishment of debt, net 2,822 0
Other 1,773 231
Net changes in working capital (Note 15) (10,343) (41,850)
Net cash used in operating activities (10,160) (82,579)
Cash flows from investing activities:    
Development of natural gas properties (65,687) (25,305)
Driftwood Project and other related pipelines construction costs (62,479) (24,500)
Land purchases and land improvements 0 (19,064)
Investment in unconsolidated entity 0 (6,089)
Note receivable (18,000) 0
Capitalized internal use software and other assets (1,303) 0
Net cash used in investing activities (147,468) (74,958)
Cash flows from financing activities:    
Proceeds from common stock issuances 0 176,974
Equity issuance costs 0 (5,316)
Borrowing proceeds 0 1,178
Borrowing issuance costs 0 (35)
Borrowing principal repayments (166,666) 0
Other (143) (32)
Net cash provided by (used in) financing activities (166,809) 172,769
Net increase (decrease) in cash, cash equivalents and restricted cash (324,437) 15,232
Cash, cash equivalents and restricted cash, beginning of period 508,468 307,274
Cash, cash equivalents and restricted cash, end of period 184,031 322,506
Supplementary disclosure of cash flow information:    
Interest paid $ 11,996 $ 1,057