v3.26.1
Consolidated statements of cash flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Profit for the year, net $ 719,063 $ 477,521 $ 396,955
Items related to operating activities:      
Allowance for expected credit losses 44    
Share-based payments 55,989 34,923 23,133
Net increase in provisions 2,507 1,261 (578)
Net changes in foreign exchange rate 144 453 (18,458)
Discount of assets and liabilities at present value 23,652 (933) (2,137)
Discount for well plugging and abandonment 2,434 1,312 2,387
Income tax expense 285,608 113,306 148,404
Other non-cash costs related to the transfer of conventional assets 29,016 33,570 27,539
Employee benefits 788 489 300
Items related to investing activities:      
Impairment of long-lived assets 38,252 (4,207) 24,585
Gain from Business Combination (490,530) 0 0
Interest income (10,594) (4,535) (1,235)
Changes in the fair value of financial assets (18,471) (14,120) (19,437)
Depreciation and depletion 730,248 431,788 272,371
Amortization of intangible assets 8,655 5,911 4,059
Income (loss) from investment in associates 5,214    
Gain related to the transfer of conventional assets 0 0 (89,659)
Gain from farmout agreement 0 0 (24,429)
Items related to financing activities:      
Interest expense 163,356 62,499 21,879
Amortized cost 7,880 1,649 1,810
Interest expense on lease liabilities 3,320 3,093 2,894
Other taxes interest 55,101 0 0
Other financial income (expense) 14,123 (14,855) 26,381
Remeasurement in borrowings     72,044
Changes in working capital:      
Trade and other receivables (221,134) (210,622) (81,260)
Inventories (1,046) (1,720) 2,058
Trade and other payables (39,172) 112,380 61,230
Payments of employee benefits (494) (424) (283)
Salaries and payroll taxes (109,852) (16,247) (26,441)
Other taxes and royalties (24,660) (23,396) (43,507)
Provisions (1,600) (751) (1,359)
Income tax payment (431,650) (29,319) (67,213)
Net cash flows provided by operating activities 796,191 959,026 712,033
Cash flows from investing activities:      
Payments for acquisitions of property, plant and equipment and biological assets (1,455,411) (1,052,530) (688,437)
Interest received 10,594 4,535 1,235
Payments for acquisitions of other intangible assets (11,720) (11,328) (7,293)
Proceeds from the transfer of conventional assets 5,734 10,734 10,000
Payments for investments in associates (56,706) (3,287) (2,176)
Payment for Business Combination, net of cash acquired (841,555)    
Proceeds from farmout agreement     26,650
Prepayment of leases   (13,200) (14,292)
Payments for the acquisition of AFBN assets     (25,000)
Net cash flows (used in) investing activities (2,349,064) (1,051,876) (699,313)
Cash flows from financing activities:      
Proceeds from borrowings 2,838,173 1,320,897 318,169
Payment of borrowings principal (1,173,623) (470,351) (211,499)
Payment of borrowings interest (148,310) (53,897) (22,993)
Payment of borrowings cost (17,935) (7,631) (1,779)
Payments of other taxes interest (22,045)    
Payments of other financial results (7,948) 8,680 (25,562)
Payments of lease (90,772) (56,641) (36,780)
Share repurchase (50,000) (99,846)  
Net cash flows provided by financing activities 1,327,540 641,211 19,556
Net (decrease) increase in cash and cash equivalents (225,333) 548,361 32,276
Cash and cash equivalents at beginning of year 755,610 209,516 241,956
Effect of exposure to changes in the foreign currency rate and other financial results of cash and cash equivalents (4,093) (2,267) (64,716)
Net (decrease) increase in cash and cash equivalents (225,333) 548,361 32,276
Cash and cash equivalents at end of year 526,184 755,610 209,516
Significant transactions that generated no cash flows      
Acquisition of Vista Lach through the issuance of Series A shares and an increase in trade and other payables 506,754    
Acquisition of property, plant and equipment through increase in trade and other payables 141,181 341,448 152,607
Acquisition of property, plant and equipment through increase in trade and other payables, related to the Farmout Agreement 109,538    
Changes in well plugging and abandonment with an impact in property, plant and equipment $ 5,397 $ 23,325 (930)
Disposal for transfer of conventional assets through increase in trade and other receivables     $ (116,071)