Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ 165,822 $ (464)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depletion, depreciation and amortization 75,430 65,622
Net loss on derivative instruments 15,813 146,548
Net cash payments on settled derivative instruments (56,754) (9,890)
Deferred income tax expense (benefit) 43,613 (7)
Stock-based compensation expense 196 3,040
Other, net 1,964 1,791
Changes in operating assets and liabilities, net 46,834 (29,360)
Net cash provided by operating activities 292,918 177,280
Cash flows from investing activities:    
Additions to oil and natural gas properties (137,833) (108,231)
Other, net (581) (546)
Net cash used in investing activities (138,414) (108,777)
Cash flows from financing activities:    
Dividends on preferred stock 0 (862)
Shares exchanged for tax withholdings (18,644) (2,962)
Other 0 (1)
Net cash used in financing activities (153,396) (64,634)
Net change in cash and cash equivalents 1,108 3,869
Cash and cash equivalents at beginning of period 1,813 1,473
Cash and cash equivalents at end of period 2,921 5,342
Nonrelated Party    
Cash flows from financing activities:    
Repurchase of common stock under Repurchase Program (152,513) (57,809)
Related Party    
Cash flows from financing activities:    
Repurchase of common stock under Repurchase Program (17,239) 0
Credit Facility due 2028    
Cash flows from financing activities:    
Principal payments on Credit Facility (540,000) (128,000)
Borrowings on Credit Facility $ 575,000 $ 125,000