v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net loss $ (83,809) $ (322,645)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depletion, depreciation and amortization (including deferred financing costs) 360,581 419,111
Deferred income taxes (35,287) 686
Unsuccessful well costs and leasehold impairments 14,313 51,373
Change in fair value of derivatives 369,306 (10,675)
Cash settlements on derivatives, net (including $(175.5) million and $7.3 million on commodity hedges during 2026 and 2025) (210,755) 2,801
Equity-based compensation 18,411 21,009
Gain on sale of assets (9,082) (600)
Debt modifications and extinguishments (1,016) 0
Other (24,805) (11,492)
Changes in assets and liabilities:    
(Increase) decrease in receivables (2,711) 76,488
(Increase) decrease in inventories and prepaid expenses 13,039 (42)
Increase (decrease) in accounts payable and accrued liabilities 37,365 (127,302)
Net cash provided by operating activities 445,550 98,712
Investing activities    
Oil and gas assets (228,002) (244,133)
Proceeds on sale of assets 127,034 0
Notes receivable and other investing activities (11,598) (86,791)
Net cash used in investing activities (112,566) (330,924)
Financing activities    
Borrowings under long-term debt 151,167 375,000
Payments on long-term debt (569,848) (150,000)
Net proceeds from issuance of senior notes and bonds 350,000 0
Repurchase and redemption of senior notes (397,184) 0
Net proceeds from issuance of common stock 206,440 0
Payments on finance lease (24,270) 0
Other financing costs (8,836) (1)
Net cash provided by (used in) financing activities (292,531) 224,999
Net increase (decrease) in cash, cash equivalents and restricted cash 40,453 (7,213)
Cash, cash equivalents and restricted cash at beginning of period 117,744 85,277
Cash, cash equivalents and restricted cash at end of period 158,197 78,064
Supplemental cash flow information    
Interest, net of capitalized interest 156,481 121,475
Income taxes, net of refund received $ 101,869 $ 90,324