v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Cash flows from operating activities:        
Net income (loss) $ 247,605 $ 297,915 $ 86,940 $ (24,905)
Adjustments to reconcile net income (loss) to cash flows from operating activities:        
Depreciation, depletion and amortization 103,440 92,668 212,005 167,314
Accretion of asset retirement obligations 13,481 10,624 26,729 18,982
Income tax (benefit) expense 139,697 (61,828) (13,065) 3,464
(Gain) loss on derivatives (291,034) (169,071) 257,349 115,213
Cash proceeds (payments) on settlement of derivatives     (211,858) (37,584)
Settlement of asset retirement costs     (21,831) (10,341)
(Gain) loss on natural gas and oil properties and equipment (36,070) (62,269) (134,147) (63,958)
Loss on early retirement of debt 23,882 0 23,882 26,971
Non-cash share-based compensation     9,380 4,377
Other     11,571 12,027
Changes in working capital:        
Accounts receivable, net     (8,618) 45,530
Other assets     (8,483) (5,621)
Accounts payable     44,743 (4,733)
Other liabilities     (17,081) (81,598)
Net cash provided by operating activities     257,516 165,138
Cash flows from investing activities:        
Consideration for business acquisitions, net of cash acquired     0 (329,709)
Consideration for asset acquisitions, net of cash acquired     (262,046) (49,989)
Proceeds from divestitures     258,932 73,097
Capital expenditures     (98,392) (89,269)
Net cash (used in) investing activities     (101,506) (395,870)
Cash flows from financing activities:        
Repayment of borrowings     (2,245,740) (1,726,484)
Proceeds from borrowings     2,232,439 2,201,132
Prepayment charge on early retirement of debt     (24,223) 0
Debt issuance costs     (13,795) (30,574)
Hedge modifications associated with ABS Notes     (7,955) (171,134)
Proceeds from equity issuance, net     0 117,468
Principal element of lease payments     (12,276) (8,175)
Dividends to stockholders     (43,034) (39,824)
Distributions to noncontrolling interest owners     (656) (927)
Repurchases of common stock (stock repurchase program)     (82,495) (33,649)
Repurchases of common stock by the EBT, net     0 (2,459)
Net cash (used in) provided by financing activities     (197,735) 305,374
Net change in cash, cash equivalents and restricted cash     (41,725) 74,642
Cash, cash equivalents and restricted cash, beginning of period     145,110 52,259
Cash, cash equivalents and restricted cash, end of period 103,385 126,901 103,385 126,901
Cash and cash equivalents 8,238 23,743 8,238 23,743
Restricted cash 95,147 103,158 95,147 103,158
Total cash, cash equivalents and restricted cash $ 103,385 $ 126,901 $ 103,385 $ 126,901