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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, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:          
Net income (loss) $ 130,111 $ 225,316 $ (39,957) $ 638,030  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Depreciation, depletion and amortization     1,101,725 757,036  
Loss on debt extinguishment 0 0 3,494 0  
Gain on sale of assets     (4,628) (13,814)  
Impairment     539,323 9,838  
Deferred income taxes     106,699 146,882  
Net gain on derivative instruments (20,724) (52,721) (82,674) (29,753)  
Net (gain) loss from investment in unconsolidated affiliate 4,646 (1,089) 10,507 (23,246)  
Equity-based compensation expenses     19,464 16,053  
Deferred financing costs amortization and other     (19,282) 6,407  
Working capital and other changes:          
Change in accounts receivable, net     71,401 (19,112)  
Change in inventory     (12,343) (6,937)  
Change in prepaid expenses     4,686 8,090  
Change in accounts payable, interest payable and accrued liabilities     (56,034) 70,538  
Change in other assets and liabilities, net     (6,711) (29,240)  
Net cash provided by operating activities     1,635,670 1,530,772  
Cash flows from investing activities:          
Capital expenditures     (1,044,820) (877,381)  
Acquisitions     (27,434) (652,672)  
Acquisition deposit     (55,000) 0  
Proceeds from divestitures     10,735 21,788  
Derivative settlements     31,954 (17,760)  
Contingent consideration received     25,000 25,000  
Distributions from investment in unconsolidated affiliate     9,182 6,914  
Net cash used in investing activities     (1,050,383) (1,494,111)  
Cash flows from financing activities:          
Proceeds from revolving credit facility     3,687,000 2,250,000  
Principal payments on revolving credit facility     (4,132,000) (1,780,000)  
Repayment and discharge of senior notes     (401,432) (63,000)  
Issuance of senior notes     1,500,000 0  
Deferred financing costs     (21,881) (3,313)  
Repurchases of common stock     (357,837) (239,804)  
Tax withholding on vesting of equity-based awards     (22,100) (57,979)  
Dividends paid     (243,418) (437,725)  
Payments on finance lease liabilities     (1,384) (1,242)  
Proceeds from warrants exercised     23 30,454  
Net cash provided by (used in) financing activities     6,971 (302,609)  
Increase (decrease) in cash and cash equivalents     592,258 (265,948)  
Cash and cash equivalents:          
Beginning of period     36,950 317,998 $ 317,998
End of period 629,208 52,050 629,208 52,050 $ 36,950
Supplemental non-cash transactions:          
Change in accrued capital expenditures     (252) 42,306  
Change in asset retirement obligations     102,364 3,869  
Non-cash consideration exchanged in the Arrangement     0 3,732,137  
Dividends payable $ 1,173 $ 20,572 $ 1,173 $ 20,572