Phoenix Energy One, LLC
For the period ended Sep 30, 2026. Filed Nov 10, 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.
Sep 30, 2026 · Filed Nov 10, 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)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income (loss) | $(35,538) | $32,785 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation, depletion, and amortization | 223,245 | 113,392 |
| Equity-based compensation expense | 111 | — |
| Amortization of right-of-use assets | 966 | 848 |
| Amortization of debt discount and debt issuance costs | 23,791 | 17,934 |
| Noncash stated interest expense | 58,321 | 39,266 |
| Impairment expense | 2,056 | 2,509 |
| Write-offs of earnest payments | 3 | — |
| Unrealized (gain) loss on derivatives | 159,843 | (14,113) |
| Loss on debt extinguishments | 2,600 | 1,916 |
| Gain on sale of assets | (1,652) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (64,021) | (45,657) |
| Accounts receivable—related party | (2,840) | — |
| Accounts payable | 11,418 | 21,627 |
| Accrued expenses | 6,120 | 168 |
| Derivative assets and liabilities, net | 13,397 | 102 |
| Other current liabilities | 107,471 | 46,856 |
| Escrow account | (4,764) | (12,612) |
| Accrued interest | (4,335) | (2,957) |
| Other operating activities | (7,177) | 2,628 |
| Net cash provided by operating activities | 489,015 | 204,692 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Additions to oil and gas properties and leases | (850,436) | (604,635) |
| Proceeds from sale of assets | 18,223 | — |
| Additions to other property and equipment | (129) | (1,499) |
| Earnest payments for acquisition of properties | (16,234) | (13,956) |
| Other investing activities | — | (25) |
| Net cash used in investing activities | (848,576) | (620,115) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from issuances of debt, net of discount | 536,706 | 454,107 |
| Payments of debt issuance costs | (60,051) | (60,192) |
| Repayments of debt | (56,052) | (47,477) |
| Proceeds from preferred equity offering, net of issuance costs | — | 47,931 |
| Distributions on Series A Preferred Shares | (5,070) | — |
| Payments of deferred closings | (7,936) | (4,308) |
| Other financing activities | 97 | — |
| Net cash provided by financing activities | 407,694 | 390,061 |
| Net change in cash and cash equivalents | 48,133 | (25,362) |
| Cash and cash equivalents at beginning of year | 65,791 | 120,814 |
| Cash and cash equivalents at end of period | $113,924 | $95,452 |
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