XML 20 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 966,212,000 $ 15,221,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, and amortization 601,449,000 89,433,000
Deferred income tax expense 239,766,000 5,368,000
Abandonment and impairment of unproved properties 17,975,000 2,215,000
Stock-based compensation 24,469,000 6,096,000
Amortization of deferred financing costs 3,319,000 963,000
Derivative loss 358,862,000 133,613,000
Derivative cash settlements loss (492,120,000) (50,536,000)
Gain on property transactions, net (15,859,000) (951,000)
Other 202,000 14,000
Changes in current assets and liabilities:    
Accounts receivable, net 39,027,000 (17,050,000)
Prepaid expenses and other assets (2,099,000) 2,244,000
Accounts payable and accrued liabilities 241,662,000 9,504,000
Settlement of asset retirement obligations (18,002,000) (3,891,000)
Net cash provided by operating activities 1,964,863,000 192,243,000
Cash flows from investing activities:    
Acquisition of oil and natural gas properties (374,769,000) (620,000)
Cash acquired 44,310,000 49,827,000
Exploration and development of oil and natural gas properties (708,958,000) (104,207,000)
Purchases of carbon offsets (7,196,000) 0
Additions to other property and equipment (97,000) (72,000)
Other 126,000 204,000
Net cash used in investing activities (1,046,584,000) (54,868,000)
Cash flows from financing activities:    
Proceeds from credit facility 100,000,000 155,000,000
Payments to credit facility (100,000,000) (249,000,000)
Redemption of senior notes (100,000,000) 0
Proceeds from exercise of stock options 232,000 716,000
Dividends paid (370,591,000) (21,598,000)
Payment of employee tax withholdings in exchange for the return of common stock (19,062,000) (2,890,000)
Deferred financing costs (1,174,000) (3,915,000)
Other 0 (21,000)
Net cash used in financing activities (490,595,000) (121,708,000)
Net change in cash, cash equivalents, and restricted cash 427,684,000 15,667,000
Cash, cash equivalents, and restricted cash:    
Beginning of period(1) 254,556,000 24,845,000
End of period [1] 682,240,000 40,512,000
Supplemental cash flow disclosure:    
Cash paid for interest (17,124,000) (1,684,000)
Cash paid for income taxes (59,800,000) 0
Changes in working capital related to drilling expenditures $ 33,000 $ (22,175,000)
[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 September 30, 2022 and 2021.