v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
NET INCOME $ 187,676 $ 202,710
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 212,935 201,819
Exploration expenses, non-cash 125 1
Asset retirement obligations accretion 3,119 3,363
Amortization of deferred financing costs 1,072 2,189
Deferred income tax expense 29,153 24,948
(Gain) loss on revaluation of contingent consideration (4,004) 3,200
Stock based compensation 13,852 9,454
Other 2,750 2,921
Changes in operating assets and liabilities:    
Accounts receivable (12,428) 11,360
Accounts payable (15,525) 26,727
Accrued liabilities 13,248 (6,111)
Drilling advances 368 (1,054)
Other assets and liabilities, net (9,153) (1,198)
Net cash provided by operating activities 423,188 480,329
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisitions (39,653) (150,172)
Additions to oil and natural gas properties (231,455) (247,063)
Changes in working capital associated with additions to oil and natural gas properties 2,770 10,287
Other investing 5,771 (498)
Net cash used in investing activities (262,567) (387,446)
CASH FLOW FROM FINANCING ACTIVITIES    
Dividends paid (57,261) (47,830)
Distributions to noncontrolling interest owners (1,842) (6,206)
Other financing activities (8,874) (7,527)
Net cash used in financing activities (168,909) (218,321)
NET CHANGE IN CASH AND CASH EQUIVALENTS (8,288) (125,438)
Cash and cash equivalents – Beginning of period 260,049 401,121
Cash and cash equivalents – End of period 251,761 275,683
Class A Common Stock    
CASH FLOW FROM FINANCING ACTIVITIES    
Class A and B Common Stock purchases and cancellations (100,932) (80,018)
Class B Common Stock    
CASH FLOW FROM FINANCING ACTIVITIES    
Class A and B Common Stock purchases and cancellations $ 0 $ (76,740)