Quarterly report pursuant to Section 13 or 15(d)

CONDENSED COMBINED STATEMENTS OF CASH FLOWS

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CONDENSED COMBINED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net income/(loss)   $ 56,671
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Depletion and accretion expense   45,798
Change in unrealized (gain) loss on derivative contracts   11,010
Amortization of loan origination costs   31
Increase (decrease) in cash attributable to changes in operating assets and liabilities:    
Revenue receivable   (22,941)
Other assets   (469)
Accrued expenses   (1,800)
Net cash provided by operating activities   91,900
Investing activities:    
Acquisition of proved oil and gas properties   (67,012)
Proceeds from the disposal of oil and gas properties   3,041
Refund of advances to operators   2,298
Development of oil and gas properties   (63,113)
Net cash used in investing activities   (124,786)
Financing activities:    
Proceed from borrowing   46,000
Repayments of borrowing   (22,000)
Partners' contributions, net of change in contributions receivable   20,074
Net cash provided by financing activities   44,074
Net (decrease)/increase in cash   11,188
Cash at beginning of period   2,638
Cash at end of period   13,826
Supplemental disclosure of cash flow information    
Cash paid during the year for interest   392
Supplemental disclosure of non cash investing activities    
Oil and natural gas property development costs in accrued expenses   561
Advances to operators applied to development of oil and natural gas properties   $ 24,880
As Previously Reported    
Operating activities:    
Net income/(loss) $ 137,046  
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Depletion and accretion expense 70,529  
Change in unrealized (gain) loss on derivative contracts (5,600)  
Amortization of loan origination costs 62  
Increase (decrease) in cash attributable to changes in operating assets and liabilities:    
Revenue receivable (21,627)  
Prepaid expenses (4,028)  
Other assets 469  
Accrued expenses (2,811)  
Net cash provided by operating activities 179,662  
Adjustments    
Operating activities:    
Net income/(loss) 14,082  
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Depletion and accretion expense (14,082)  
As Restated    
Operating activities:    
Net income/(loss) 151,128  
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Depletion and accretion expense 56,447  
Change in unrealized (gain) loss on derivative contracts (5,600)  
Amortization of loan origination costs 62  
Increase (decrease) in cash attributable to changes in operating assets and liabilities:    
Revenue receivable (21,627)  
Prepaid expenses (4,028)  
Other assets 469  
Accrued expenses (2,811)  
Net cash provided by operating activities 179,662  
Investing activities:    
Acquisition of proved oil and gas properties (31,258)  
Proceeds from the disposal of oil and gas properties 741  
Refund of advances to operators 971  
Development of oil and gas properties (121,109)  
Net cash used in investing activities (150,655)  
Financing activities:    
Proceed from borrowing 16,000  
Repayments of borrowing (46,000)  
Partners' contributions, net of change in contributions receivable 84  
Net cash provided by financing activities (29,916)  
Net (decrease)/increase in cash (909)  
Cash at beginning of period 7,319  
Cash at end of period 6,410  
Supplemental disclosure of cash flow information    
Cash paid during the year for interest 317  
Supplemental disclosure of non cash investing activities    
Oil and natural gas property development costs in accrued expenses 15,757  
Acquired and assumed asset retirement obligations 633  
Revision of asset retirement costs 507  
Advances to operators applied to development of oil and natural gas properties $ 54,147