v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 73,937 $ 158,143
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Depreciation, depletion and amortization 1,087,024 878,079
Impairment expense 0 122,159
Deferred tax expense (benefit) 89,339 36,832
(Gain) loss on derivatives 930,541 (163,259)
Net cash (paid) received on settlement of derivatives (504,029) 31,038
Non-cash equity-based compensation expense 65,482 143,281
Amortization of debt issuance costs, premium and discount 12,491 11,161
Loss from debt extinguishment 17,413 29,248
(Gain) loss on sale of oil and natural gas properties (16,755) (11,131)
Settlement of acquired derivative contracts 156,332 49,580
Other (18,993) (28,248)
Changes in operating assets and liabilities (168,308) 52,257
Net cash provided by operating activities 1,724,474 1,309,140
Cash flows from investing activities:    
Development of oil and natural gas properties (1,019,827) (691,373)
Acquisitions of oil and natural gas properties, net of cash acquired (359,233) (942,465)
Proceeds from the sale of oil and natural gas properties 28,834 114,799
Purchases of restricted investment securities – HTM (21,887) (16,158)
Maturities of restricted investment securities – HTM 21,939 16,168
Other (11,661) 0
Net cash used in investing activities (1,361,835) (1,519,029)
Cash flows from financing activities:    
Proceeds from the issuance of Senior Notes, after premium, discount and underwriting fees 671,025 591,750
2031 Convertible Notes capped call (56,649) 0
Repurchase of Senior Notes, including extinguishment costs (810,261) (522,360)
Proceeds from issuance of CRF Term Loan 135,000 0
Repayments of CRF Term Loan (135,000) 0
Payment of debt issuance costs (10,150) (6,319)
Settlement of Ridgemar contingent earn-out consideration (35,295) 0
Dividends (118,627) (84,565)
Distributions to redeemable noncontrolling interests 0 (17,192)
Repurchase of noncontrolling interest (32,196) 0
Noncontrolling interest distributions (2,402) (4,150)
Cash paid for treasury stock acquired for equity-based compensation tax withholding (1,635) (58)
Repurchases of Class A common stock 0 (33,828)
Other 0 (2,846)
Net cash provided by (used in) financing activities (1,085,338) (7,568)
Net change in cash, cash equivalents and restricted cash (722,699) (217,457)
Cash, cash equivalents and restricted cash, beginning of period 753,310 240,908
Cash, cash equivalents and restricted cash, end of period 30,611 23,451
Prior Credit Agreement    
Cash flows from financing activities:    
Revolving Credit Facility borrowings 3,487,000 2,735,000
Revolving Credit Facility repayments (4,259,648) (2,663,000)
Crescent Royalty Finance Credit Facility    
Cash flows from financing activities:    
Revolving Credit Facility borrowings 305,000 0
Revolving Credit Facility repayments $ (221,500) $ 0