XML 24 R8.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 202,461 $ 91,639
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, and amortization 201,303 184,860
Deferred income tax expense 45,953 23,361
Abandonment and impairment of unproved properties 0 17,975
Stock-based compensation 7,380 8,090
Amortization of deferred financing costs 1,150 1,078
Derivative (gain) loss (25,160) 295,493
Derivative cash settlement loss (10,550) (166,578)
(Gain) loss on property transactions, net 241 (16,797)
Other (8) 68
Changes in current assets and liabilities:    
Accounts receivable, net 140,744 11,906
Prepaid expenses and other assets 17,528 (2,398)
Accounts payable and accrued liabilities (35,646) 88,975
Settlement of asset retirement obligations (6,547) (5,131)
Net cash provided by operating activities 538,849 532,541
Cash flows from investing activities:    
Acquisition of oil and natural gas properties (30,824) (300,087)
Cash acquired 0 44,310
Proceeds from sale of oil and natural gas properties 5,700 0
Exploration and development of oil and natural gas properties (250,389) (260,667)
Additions to other property and equipment (630) (68)
Other 536 212
Net cash used in investing activities (275,607) (516,300)
Cash flows from financing activities:    
Dividends paid (173,376) (103,596)
Common stock repurchased and retired (300,107) 0
Proceeds from exercise of stock options 440 178
Payment of employee tax withholdings in exchange for the return of common stock (2,118) (12,928)
Net cash used in financing activities (475,161) (116,346)
Net change in cash, cash equivalents, and restricted cash (211,919) (100,105)
Cash, cash equivalents, and restricted cash:    
Beginning of period [1] 768,134 254,556
End of period [1] $ 556,215 $ 154,451
[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”).