Phoenix Energy One, LLC
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
PHXE-P$25.350.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income (loss) | $32,785 | $(11,294) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation, depletion, amortization, and accretion | 113,392 | 53,316 |
| Amortization of right-of-use assets | 848 | 445 |
| Amortization of debt discount and debt issuance costs | 17,934 | 11,703 |
| Impairment expense | 2,509 | 528 |
| Unrealized gain on derivatives | (14,113) | (3,545) |
| Loss on debt extinguishment | 1,916 | 868 |
| Loss on sale of assets | — | 564 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (45,657) | (13,527) |
| Earnest payments | (13,956) | (16,051) |
| Accounts payable | 21,627 | (9,527) |
| Accrued expenses | 4,870 | 4,684 |
| Other current liabilities | 42,192 | 4,997 |
| Escrow account | (12,612) | (258) |
| Accrued interest | 33,836 | 19,353 |
| Other | 5,046 | (2,038) |
| Net cash provided by operating activities | 190,617 | 40,218 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Additions to oil and gas properties and leases | (604,607) | (280,267) |
| Proceeds from sale of assets | — | 6,200 |
| Additions to equipment and other property | (1,433) | (83) |
| Net cash used in investing activities | (606,040) | (274,150) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from issuances of debt, net of discount | 454,107 | 384,854 |
| Payments of debt issuance costs | (60,192) | (42,300) |
| Repayments of debt | (47,477) | (77,196) |
| Proceeds from preferred equity offering, net of issuance costs | 47,931 | — |
| Member’s contributions | — | 325 |
| Member’s distributions | — | (4,756) |
| Payments of deferred closings | (4,308) | (7,896) |
| Net cash provided by financing activities | 390,061 | 253,031 |
| Net change in cash and cash equivalents | (25,362) | 19,099 |
| Cash and cash equivalents at beginning of year | 120,814 | 5,428 |
| Cash and cash equivalents at end of year | $95,452 | $24,527 |
| The accompanying notes are an integral part of these condensed consolidated financial statements. | 9 |
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