v3.26.3
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 $ 152,865 $ 133,434
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes 23,763 20,485
Loss (gain) on sale of assets (3,400) 2,493
Depreciation, depletion and amortization 494,619 483,665
Dry hole costs and abandonments 6,746 0
Gain on derivative financial instruments (121,290) (48,330)
Cash settlements of derivative financial instruments 2,407 22,708
Amortization of debt discount and issuance costs 9,398 8,925
Stock-based compensation 23,280 15,595
Decrease in accounts receivable 18,745 1,900
(Increase) decrease in other current assets (2,978) 24,152
Increase in accounts payable and accrued expenses 18,224 10,376
Net cash provided by operating activities 622,379 675,403
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures and acquisitions (1,299,936) (983,828)
Prepaid drilling costs 8,877 5,438
Proceeds from sales of assets 18,415 15,166
Net cash used for investing activities (1,272,644) (963,224)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on bank credit facilities 1,047,000 540,000
Repayments of bank credit facilities (507,000) (375,000)
Debt issuance costs (1,496) (36)
Income tax withholdings on equity awards (5,514) (11,010)
Redemption of noncontrolling interest (445,000) 0
Contributions from noncontrolling interest 600,126 156,500
Distributions to noncontrolling interest (24,589) (10,217)
Noncontrolling interest transaction costs (18,559) 0
Net cash provided by financing activities 644,968 300,237
Net increase (decrease) in cash and cash equivalents (5,297) 12,416
Cash and cash equivalents, beginning of period 23,930 6,799
Cash and cash equivalents, end of period $ 18,633 $ 19,215