Phoenix Energy One, LLC
For the period ended Mar 31, 2026. Filed May 13, 2026.
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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.
Mar 31, 2026 · Filed May 13, 2026
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)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income (loss) | $(140,119) | $5,599 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation, depletion, and amortization | 60,249 | 31,225 |
| Equity-based compensation expense | 68 | — |
| Amortization of right-of-use assets | 313 | 259 |
| Amortization of debt discount and debt issuance costs | 7,380 | 5,166 |
| Impairment expense | 828 | 516 |
| Write-offs of earnest payments | 3 | — |
| Unrealized (gain) loss on derivatives | 157,789 | (2,823) |
| Loss on debt extinguishments | 903 | 321 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (31,789) | (16,500) |
| Earnest payments | (1,067) | (10,874) |
| Accounts payable | (2,513) | (1,127) |
| Accrued expenses | (5,600) | (1,875) |
| Derivative assets and liabilities, net | 22,267 | — |
| Other current liabilities | 21,755 | 11,108 |
| Escrow account | (5,625) | (9,229) |
| Accrued interest | 17,600 | 9,862 |
| Other operating activities | 1,359 | (3,526) |
| Net cash provided by operating activities | 103,801 | 18,102 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Additions to oil and gas properties and leases | (238,483) | (182,252) |
| Additions to other property and equipment | (146) | (109) |
| Other investing activities | — | (23) |
| Net cash used in investing activities | (238,629) | (182,384) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from issuances of debt, net of discount | 185,649 | 105,948 |
| Payments of debt issuance costs | (19,934) | (14,543) |
| Repayments of debt | (20,501) | (11,104) |
| Distributions on Series A Preferred Shares | (1,690) | — |
| Payments of deferred closings | (4,314) | (1,467) |
| Net cash provided by financing activities | 139,210 | 78,834 |
| Net change in cash and cash equivalents | 4,382 | (85,448) |
| Cash and cash equivalents at beginning of year | 65,791 | 120,814 |
| Cash and cash equivalents at end of year | $70,173 | $35,366 |
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