v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES      
NET INCOME $ 81,028 $ 282,612 $ 187,676
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 107,082 229,874 212,935
Asset retirement obligations accretion 1,563 3,719 3,119
Amortization of deferred financing costs   1,099 1,072
Deferred income tax expense 16,812 65,086 29,153
Gain on revaluation of contingent consideration (2,700) 0 (4,004)
Stock based compensation   21,885 13,852
Other   4,261 2,875
Changes in operating assets and liabilities:      
Accounts receivable   (38,724) (13,732)
Accounts payable   (4,593) (15,525)
Accrued liabilities   (4,228) 13,248
Other assets and liabilities, net   20,651 (7,481)
Net cash provided by operating activities   581,642 423,188
CASH FLOWS FROM INVESTING ACTIVITIES      
Acquisitions   (156,209) (39,653)
Additions to oil and natural gas properties   (253,557) (231,455)
Changes in working capital associated with additions to oil and natural gas properties   25,208 2,770
Other investing   6,578 5,771
Net cash used in investing activities   (377,980) (262,567)
CASH FLOW FROM FINANCING ACTIVITIES      
Dividends paid   (61,246) (57,261)
Distributions to noncontrolling interest owners   (911) (1,842)
Other financing activities   (9,953) (8,874)
Net cash used in financing activities   (174,509) (168,909)
NET CHANGE IN CASH AND CASH EQUIVALENTS   29,153 (8,288)
Cash and cash equivalents – Beginning of period   266,785 260,049
Cash and cash equivalents – End of period $ 251,761 295,938 251,761
Class A Common Stock      
CASH FLOW FROM FINANCING ACTIVITIES      
Class A and B Common Stock purchases and cancellations   (82,606) (100,932)
Class B Common Stock      
CASH FLOW FROM FINANCING ACTIVITIES      
Class A and B Common Stock purchases and cancellations   $ (19,793) $ 0