Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 295,395 $ 11,856
Adjustments to reconcile net income to net cash provided by operating activities:    
Depletion, depreciation and amortization 222,481 241,401
Impairment of oil and natural gas properties 0 30,487
Loss on debt extinguishment 0 13,388
Net gain on derivative instruments (56,357) (74,487)
Net cash receipts on settled derivative instruments 43,302 240,941
Deferred income tax expense 82,904 3,433
Stock-based compensation expense 9,245 8,410
Other, net 6,236 4,509
Changes in operating assets and liabilities, net 14,555 21,247
Net cash provided by operating activities 617,761 501,185
Cash flows from investing activities:    
Additions to oil and natural gas properties (382,899) (376,910)
Proceeds from sale of oil and natural gas properties 150 0
Other, net (1,474) (2,141)
Net cash used in investing activities (384,223) (379,051)
Cash flows from financing activities:    
Issuance of 2029 Senior Notes 0 650,000
Early retirement of 2026 Senior Notes (25,702) (524,298)
Premium paid on 2026 Senior Notes 0 (12,941)
Debt issuance costs and loan commitment fees 0 (14,820)
Dividends on preferred stock (1,666) (3,293)
Redemption of preferred stock (31,374) 0
Net cash payments on performance vesting restricted stock units (12,297) 0
Shares exchanged for tax withholdings (5,576) (23,606)
Proceeds from (Payment for) Other Financing Activity (6) 0
Net cash used in financing activities (231,644) (120,843)
Net change in cash and cash equivalents 1,894 1,291
Cash and cash equivalents at beginning of period 1,473 1,929
Cash and cash equivalents at end of period 3,367 3,220
Nonrelated Party    
Cash flows from financing activities:    
Repurchase of common stock under Repurchase Program (153,023) (64,021)
Related Party    
Cash flows from financing activities:    
Repurchase of common stock under Repurchase Program (15,000) (39,864)
Credit Facility due 2028    
Cash flows from financing activities:    
Principal payments on Credit Facility (994,000) (825,000)
Borrowings on Credit Facility $ 1,007,000 $ 737,000