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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:          
Net income $ 225,316 $ 209,076 $ 638,030 $ 722,146  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation, depletion and amortization     757,036 431,131  
Gain on sale of assets     (13,814) (3,739)  
Impairment     9,838 28,964  
Deferred income taxes     146,882 176,678  
Net gain on derivative instruments (52,721) 85,205 (29,753) (11,247)  
Net gain from investment in unconsolidated affiliate (1,089) (13,512) (23,246) (21,421)  
Equity-based compensation expenses     16,053 37,260  
Deferred financing costs amortization and other     6,407 1,072  
Working capital and other changes:          
Change in accounts receivable, net     (19,112) (258,175)  
Change in inventory     (6,937) (4,945)  
Change in prepaid expenses     8,090 430  
Change in accounts payable, interest payable and accrued liabilities     70,538 135,880  
Change in other assets and liabilities, net     (29,240) 42,483  
Net cash provided by operating activities     1,530,772 1,276,517  
Cash flows from investing activities:          
Capital expenditures     (877,381) (642,584)  
Acquisitions, net of cash acquired     (652,672) (361,609)  
Proceeds from divestitures     21,788 46,002  
Derivative settlements     (17,760) (203,238)  
Proceeds from sale of investment in unconsolidated affiliate     0 40,612  
Contingent consideration received     25,000 0  
Distributions from investment in unconsolidated affiliate     6,914 8,499  
Net cash used in investing activities     (1,494,111) (1,112,318)  
Cash flows from financing activities:          
Proceeds from revolving credit facilities     2,250,000 135,000  
Principal payments on revolving credit facilities     (1,780,000) (135,000)  
Cash paid to settle Enerplus senior notes     (63,000) 0  
Deferred financing costs     (3,313) 0  
Repurchases of common stock     (239,804) (157,122)  
Tax withholding on vesting of equity-based awards     (57,979) (13,823)  
Chord dividends paid     (437,725) (394,652)  
Payments on finance lease liabilities     (1,242) (1,398)  
Proceeds from warrants exercised     30,454 74,611  
Net cash used in financing activities     (302,609) (492,384)  
Decrease in cash and cash equivalents     (265,948) (328,185)  
Cash and cash equivalents:          
Beginning of period     317,998 593,151 $ 593,151
End of period 52,050 264,966 52,050 264,966 $ 317,998
Supplemental non-cash transactions          
Change in accrued capital expenditures [1]     42,306 77,091  
Change in asset retirement obligations [1]     3,869 1,057  
Dividends payable [1] $ 20,572 $ 36,044 $ 20,572 $ 36,044  
[1] Amounts exclude non-cash consideration transferred and balances acquired on May 31, 2024 in respect of the Arrangement (as defined in Note 1—Organization and Summary of Significant Accounting Policies). Refer to Note 8—Acquisitions for additional information