v3.26.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ (439,428) $ 318,724
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 684,861 615,028
Property impairments 14,144 17,022
Non-cash loss on derivatives, net 993,975 332,854
Net provision for deferred income taxes 220,770 2,039
Equity in net loss of affiliate 24,025 12,887
Net (gain) loss on sale of assets and other (1,912) 3,084
Other, net 3,078 4,447
Changes in assets and liabilities:    
Accounts receivable (173,004) 55,962
Inventories (35,529) (2,702)
Other current assets (5,906) (16,310)
Accounts payable trade 93,556 36,967
Revenues and royalties payable 148,154 98,717
Accrued liabilities and other 5,009 (102,376)
Incentive compensation liability (71,009) (59,329)
Current income taxes (342,666) 84,642
Other noncurrent assets and liabilities 1,391 (465)
Net cash provided by operating activities 1,119,509 1,401,191
Cash flows from investing activities:    
Exploration and development (934,336) (774,514)
Purchase of producing crude oil and natural gas properties (1,685) 0
Purchase of other property and equipment (58,655) (43,480)
Proceeds from sale of assets 107,201 664
Contributions to unconsolidated affiliates (2,985) (6,821)
Net cash used in investing activities (890,460) (824,151)
Cash flows from financing activities:    
Credit facility borrowings 0 440,000
Repayment of credit facility 0 (460,000)
Repayment of other debt 0 (640)
Debt issuance costs 0 (123)
Contributions from noncontrolling interests 4,879 3,019
Distributions to noncontrolling interests (5,393) (6,408)
Dividends paid on common stock 0 (628)
Net cash used in financing activities (514) (24,780)
Net change in cash and cash equivalents 228,535 552,260
Cash and cash equivalents at beginning of period 1,375,861 39,064
Cash and cash equivalents at end of period $ 1,604,396 $ 591,324