v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net income including noncontrolling interest $ 332,184 $ 124,542
Adjustments to reconcile net income to net cash provided by continuing operations activities    
Depreciation, depletion and amortization 516,482 453,484
Unsuccessful exploration well costs and previously suspended exploration costs 80,585 (776)
Deferred income tax expense 92,549 21,216
Accretion of asset retirement obligations 29,384 28,477
Long-term non-cash compensation 25,693 22,016
Amortization of undeveloped leases 4,835 3,909
(Income) loss from discontinued operations 979 (669)
Unrealized gain on derivative instruments 0 (1,371)
Other operating activities, net (65,121) (2)
Net (increase) decrease in non-cash working capital (40,477) 7,905
Net cash provided by continuing operations activities 977,093 658,731
Investing Activities    
Property additions and dry hole costs (866,159) (678,043)
Acquisition of oil and natural gas properties (23,513) (1,383)
Net cash required by investing activities (889,672) (679,426)
Financing Activities    
Retirement of debt (227,489) 0
Early redemption of debt cost (2,369) 0
Debt issuance 500,000 0
Debt issuance cost (7,819) 0
Borrowings on revolving credit facility 425,000 350,000
Repayment of revolving credit facility (525,000) (150,000)
Issue costs of revolving credit facility (12,274) (18)
Repurchase of common stock, including excise tax (777) (102,620)
Cash dividends paid (100,344) (93,412)
Distributions to noncontrolling interest (21,164) (18,165)
Withholding tax on stock-based incentive awards (7,849) (7,654)
Finance lease obligation payments (870) (486)
Net cash provided (required) by financing activities 19,045 (22,355)
Effect of exchange rate changes on cash and cash equivalents 213 (888)
Net increase (decrease) in cash and cash equivalents 106,679 (43,938)
Cash and cash equivalents at beginning of period 377,196 423,569
Cash and cash equivalents at end of period $ 483,875 $ 379,631