v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS — UNAUDITED - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net (loss) income $ (15,818) $ 262,247
Adjustments to reconcile net (loss) income to net cash provided by operating activities    
Unrealized loss (gain) on derivatives 255,474 (5,071)
Depletion, depreciation and amortization 292,704 281,891
Accretion of asset retirement obligations 2,268 1,727
Stock-based compensation expense 4,518 3,888
Loss on debt extinguishment 15,587 0
Deferred income tax (benefit) provision (684) 59,940
Amortization of debt issuance cost and other debt-related costs 3,538 3,663
Other non-cash changes 6,653 209
Changes in operating assets and liabilities    
Accounts receivable, prepaid expenses and other current assets (188,684) 19,629
Lease and well equipment inventory 1,052 (10,833)
Other long-term assets (149) (192)
Accounts payable, accrued liabilities and other current liabilities 113,457 44,093
Royalties payable (13,999) 32,241
Advances from joint interest owners (3,062) 32,504
Other long-term liabilities (2,309) 1,943
Net cash provided by operating activities 470,546 727,879
Investing activities    
Drilling, completion and equipping capital expenditures (377,375) (378,362)
Acquisition of oil and natural gas properties (61,655) (81,662)
Midstream capital expenditures (17,634) (72,934)
Expenditures for other property and equipment (2,132) (942)
Proceeds from sale of assets 858 22,238
Net cash used in investing activities (457,938) (511,662)
Financing activities    
Repayments of borrowings under Credit Agreement (648,000) (595,500)
Borrowings under Credit Agreement 435,000 405,000
Repayments of borrowings under San Mateo Credit Facility (105,000) (100,000)
Borrowings under San Mateo Credit Facility 140,000 140,000
Cost to amend credit facilities (134) 0
Proceeds from issuance of senior unsecured notes 750,000 0
Cost to issue senior unsecured notes (12,126) 0
Purchase of senior unsecured notes (509,670) 0
Proceeds from sale-leaseback financing obligation 24,000 0
Repurchases of common stock (707) 0
Dividends paid (46,817) (39,180)
Contributions related to formation of San Mateo 6,900 2,800
Distributions to non-controlling interest owners of less-than-wholly-owned subsidiaries (30,380) (35,661)
Taxes paid related to net share settlement of stock-based compensation (2,416) (10,545)
Other (263) (357)
Net cash provided by (used in) financing activities 387 (233,443)
Change in cash and restricted cash 12,995 (17,226)
Cash and restricted cash at beginning of period 79,477 94,742
Cash and restricted cash at end of period $ 92,472 $ 77,516