XML 23 R8.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 91,639 $ (119)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion, and amortization 184,860 18,823
Deferred income tax expense (benefit) 23,361 (44)
Abandonment and impairment of unproved properties 17,975 0
Stock-based compensation 8,090 1,612
Amortization of deferred financing costs 1,078 93
Derivative loss 295,493 23,419
Derivative cash settlements loss (166,578) (3,791)
Gain on property transactions, net (16,797) 0
Other 68 (84)
Changes in current assets and liabilities:    
Accounts receivable, net 11,906 (5,718)
Prepaid expenses and other assets (2,398) 106
Accounts payable and accrued liabilities 88,975 9,073
Settlement of asset retirement obligations (5,131) (406)
Net cash provided by operating activities 532,541 42,964
Cash flows from investing activities:    
Acquisition of oil and natural gas properties (300,087) (180)
Cash acquired 44,310 0
Exploration and development of oil and natural gas properties (260,667) (28,730)
Additions to other property and equipment (68) (38)
Other 212 0
Net cash used in investing activities (516,300) (28,948)
Cash flows from financing activities:    
Proceeds from exercise of stock options 178 15
Dividends paid (103,596) 0
Payment of employee tax withholdings in exchange for the return of common stock (12,928) 0
Deferred financing costs 0 (58)
Other 0 (21)
Net cash used in financing activities (116,346) (64)
Net change in cash, cash equivalents, and restricted cash (100,105) 13,952
Cash, cash equivalents, and restricted cash:    
Beginning of period 254,556 24,845
End of period [1] 154,451 38,797
Supplemental cash flow disclosure:    
Cash paid for interest (774) (318)
Cash paid for income taxes (6,300) 0
Changes in working capital related to drilling expenditures $ (28,015) $ 4,371
[1] (1) Includes $0.1 million of restricted cash and consists of funds for road maintenance and repairs that is presented in other noncurrent assets within the accompanying unaudited condensed consolidated balance sheets (“balance sheets”) as of both March 31, 2022 and March 31, 2021.