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
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (152,529) $ (80,875)
Adjustments to reconcile Net loss to Net cash used in operating activities:    
Depreciation, depletion and amortization 71,058 22,735
Amortization of debt issuance costs, discounts and fees 2,997 1,494
Share-based compensation 1,375 2,753
Share-based payments 0 678
Net unrealized loss on financial instruments not designated as hedges 7,820 13,553
Loss on extinguishment of debt, net 32,295 0
Other 2,147 745
Net changes in working capital (Note 15) 32,129 (26,802)
Net cash used in operating activities (2,708) (65,719)
Cash flows from investing activities:    
Acquisition and development of natural gas properties (107,038) (236,558)
Driftwood Project construction costs (168,210) (117,793)
Land purchases and land improvements 0 (19,412)
Investment in unconsolidated entity 0 (6,089)
Note receivable (18,000) (5,000)
Capitalized internal use software and other assets (2,129) (1,278)
Net cash used in investing activities (295,377) (386,130)
Cash flows from financing activities:    
Proceeds from common stock issuances 47,662 309,021
Equity issuance costs (1,442) (9,281)
Borrowing proceeds 0 501,178
Borrowing issuance costs 0 (11,487)
Borrowing principal repayments (166,666) 0
Other (1,073) (98)
Net cash (used in) provided by financing activities (121,519) 789,333
Net (decrease) increase in cash, cash equivalents and restricted cash (419,604) 337,484
Cash, cash equivalents and restricted cash, beginning of period 508,468 307,274
Cash, cash equivalents and restricted cash, end of period 88,864 644,758
Supplementary disclosure of cash flow information:    
Interest paid, net of capitalized interest $ 15,629 $ 11,152