CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash flows from operating activities:
Net (loss) income	$ (89,093)	$ 21,010
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, depletion and amortization	114,200	128,423
Amortization of debt issuance costs	6,060	2,126
Impairment of oil and gas properties	157,910	43,980
Stock-based compensation expense	6,679	4,676
Deferred income taxes	(32,480)	4,850
Other operating expenses	2,271	(2,135)
Derivative activities:
Total (gains) losses	(43,744)	16,508
Cash settlements received (paid) on derivatives	7,678	(38,606)
Changes in assets and liabilities:
Decrease in accounts receivable	9,097	12,414
Decrease in other assets	759	7,072
Increase (decrease) in accounts payable and accrued expenses	1,599	(48,819)
(Decrease) increase in other liabilities	(11,015)	17,360
Net cash provided by operating activities	129,921	168,859
Capital expenditures:
Capital expenditures	(99,659)	(85,135)
Changes in capital expenditures accruals	(1,992)	1,219
Acquisitions, net of cash received	0	(9,188)
Proceeds from sale of property and equipment and other	520	7,455
Net cash used in investing activities	(101,131)	(85,649)
Cash flows from financing activities:
Dividends paid on common stock	(8,402)	(46,721)
Payment of deferred acquisition payable	0	(20,000)
Shares withheld for payment of taxes on equity awards and other	(1,325)	(5,257)
Debt issuance cost	(1,735)	(3,096)
Net cash used in financing activities	(45,212)	(78,574)
Net (decrease) increase in cash and cash equivalents	(16,422)	4,636
Cash, cash equivalents and restricted cash:
Beginning	30,036	4,835
Ending	13,614	9,471
2024 term loan
Cash flows from financing activities:
Repayments of long-term lines of credit	(33,750)	0
2024 revolver
Cash flows from financing activities:
Repayments of long-term lines of credit	(148,000)	0
Proceeds from long-term lines of credit	148,000	0
Former revolving credit facility
Cash flows from financing activities:
Repayments of long-term lines of credit	0	(506,000)
Proceeds from long-term lines of credit	$ 0	$ 502,500

Berry Corp (bry) 10-Q