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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 199,353 $ 296,999  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 168,894 133,791  
Gain on sale of assets (1,302) (1,227)  
Impairment 3,919 23,304  
Deferred income taxes 26,966 73,923  
Net (gain) loss on derivative instruments 27,577 (66,934)  
Net (gain) loss from investment in unconsolidated affiliate (16,296) 2,216  
Equity-based compensation expenses 4,771 11,854  
Deferred financing costs amortization and other 2,663 (3,791)  
Working capital and other changes:      
Change in accounts receivable, net (62,081) (14,657)  
Change in inventory (9,471) (12,753)  
Change in prepaid expenses (291) 1,211  
Change in accounts payable, interest payable and accrued liabilities 29,147 8,176  
Change in other assets and liabilities, net 32,849 16,699  
Net cash provided by operating activities 406,698 468,811  
Cash flows from investing activities:      
Capital expenditures (222,149) (172,328)  
Acquisitions, net of cash acquired (334) 0  
Proceeds from divestitures, net of cash divested 2,371 7,034  
Derivative settlements (12,062) (91,656)  
Proceeds from sale of investment in unconsolidated affiliate 0 12,347  
Contingent consideration received 25,000 0  
Distributions from investment in unconsolidated affiliate 2,287 3,015  
Net cash used in investing activities (204,887) (241,588)  
Cash flows from financing activities:      
Repurchases of common stock (31,999) (15,003)  
Tax withholding on vesting of equity-based awards (46,051) (10,300)  
Dividends paid (152,389) (202,473)  
Payments on finance lease liabilities (386) (388)  
Proceeds from warrants exercised 7,370 90  
Net cash used in financing activities (223,455) (228,074)  
Decrease in cash and cash equivalents (21,644) (851)  
Cash and cash equivalents:      
Beginning of period 317,998 593,151 $ 593,151
End of period 296,354 592,300 $ 317,998
Supplemental non-cash transactions:      
Change in accrued capital expenditures 25,312 46,097  
Change in asset retirement obligations 973 234  
Dividends payable $ 17,587 $ 15,798