Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flow from Operating Activities      
Net Income (Loss) $ 43,412 $ 4,797 $ (7,009)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities      
Deferred Income Tax Expense 7,299 466 379
Depreciation, Amortization and Accretion 76,632 67,524 60,767
Stock-Based Compensation 11,569 12,034 1,586
Impairment of Long-Lived Assets   15,597  
Abandoned Well Costs 1,303 15,771 28,505
(Gain) Loss on Disposal of Assets, Net (2,606) 478 275
Abandoned Projects 216 72 2,047
Amortization of Debt Issuance Costs, Net 2,280 2,143 1,873
Change in Payables Related to Tax Receivable Agreement Liability 413    
Other 93 623 596
Changes in Operating Assets and Liabilities      
Accounts Receivable 20,716 (38,811) (21,456)
Accounts Receivable from Affiliate 23,104 (25,838) (8,653)
Other Receivables (9,648) (838) 364
Prepaids and Deposits (2,559) 238 (2,178)
Accounts Payable 3,937 1,903 (8,271)
Payables to Affiliates (2,127) 1,522 (385)
Accrued Liabilities and Other 9,839 12,532 10,372
Net Cash Provided by Operating Activities 183,873 70,213 58,812
Cash Flow from Investing Activities      
Property, Plant and Equipment Expenditures (169,736) (146,525) (74,664)
Cash Paid for Asset Acquisitions   (5,100)  
Proceeds from the Sale of Property, Plant and Equipment 20,154 14,700  
Net Cash Used in Investing Activities (149,582) (136,925) (74,664)
Cash Flow from Financing Activities      
Dividends and Distributions Paid (21,429) (24,465) (213,186)
Repurchase of Shares (1,363) (2,756) (135)
Repayment of Credit Facility (118,000)   (297,000)
Proceeds from Credit Facility 109,000 35,000  
Proceeds from issuance of Class A Common Stock sold in Initial Public Offering, net of underwriting discounts and commissions     249,355
Payment of Issuance Costs of Class A Common Stock     (2,913)
Proceeds from Senior Sustainability-Linked Notes     400,000
Redemption of Redeemable Preferred Units     (74,357)
Members' Contributions     5
Proceeds from Insurance Premium Financing 6,636    
Payment of Insurance Premium Financing (1,252)    
Net Cash (Used in) Provided by Financing Activities (30,350) 7,779 50,975
Net Increase (Decrease) in Cash 3,941 (58,933) 35,123
Cash, Beginning of Year 1,122 60,055 24,932
Cash, End of Year 5,063 1,122 60,055
Supplementary Cash Flow Data      
Cash Paid for Interest, Net of Amount Capitalized 29,598 25,933 18,649
Cash Paid for Income Taxes 97 $ 6  
Senior Sustainability-Linked Notes | Solaris LLC      
Cash Flow from Financing Activities      
Payment of Debt Issuance Costs     (9,352)
Credit Facility      
Cash Flow from Financing Activities      
Payment of Debt Issuance Costs $ (3,942)   $ (1,442)