v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 817,880 $ 1,111,952 $ 36,229
Adjustments to reconcile net income to net cash provided by operating activities:      
Depletion, depreciation, amortization, and asset retirement obligation liability accretion 690,481 603,780 774,386
Impairment 0 7,468 35,000
Stock-based compensation expense 20,250 18,772 18,819
Net derivative (gain) loss (68,154) 374,012 901,659
Net derivative settlement gain (loss) 26,921 (710,700) (748,958)
Amortization of debt discount and deferred financing costs 5,486 10,281 17,275
Loss on extinguishment of debt 0 67,605 2,139
Deferred income taxes 88,256 269,057 9,565
Other, net (2,175) 6,242 (3,753)
Changes in working capital:      
Accounts receivable (10,191) 38,554 (101,047)
Prepaid expenses and other (2,437) (1,055) 220
Accounts payable and accrued expenses 8,077 (109,562) 218,238
Net cash provided by operating activities 1,574,394 1,686,406 1,159,772
Cash flows from investing activities:      
Capital expenditures (989,411) (879,934) (674,841)
Acquisition of proved and unproved oil and gas properties (109,931) (7) (3,321)
Other, net 657 (322) 10,927
Net cash used in investing activities (1,098,685) (880,263) (667,235)
Cash flows from financing activities:      
Proceeds from revolving credit facility 0 0 1,832,500
Repayment of revolving credit facility 0 0 (1,925,500)
Net proceeds from Senior Notes 0 0 392,771
Cash paid to repurchase Senior Notes 0 584,946 450,776
Repurchase of common stock (228,105) (57,207) 0
Net proceeds from sale of common stock 3,058 3,039 2,639
Dividends paid (71,614) (19,637) (2,393)
Net share settlement from issuance of stock awards (7,882) (25,129) (9,072)
Other, net 0 (9,981) 0
Net cash used in financing activities (304,543) (693,861) (159,831)
Net change in cash, cash equivalents, and restricted cash 171,166 112,282 332,706
Cash, cash equivalents, and restricted cash at beginning of period 444,998 332,716 10
Cash, cash equivalents, and restricted cash at end of period 616,164 444,998 332,716
Supplemental Cash Flow Information - Operating Activities:      
Cash paid for interest, net of capitalized interest (86,947) (134,240) (136,606)
Net cash paid for income taxes (8,975) (10,576) (864)
Supplemental Cash Flow Information - Investing Activities:      
Changes in capital expenditure accruals $ 80,794 29,789 (10,826)
Non-cash investing and financing activities      
Non-cash financing activities (1) [1]  
[1]
(1)    Please refer to Note 5 – Long-Term Debt for discussion of the debt transactions completed during the years ended December 31, 2022, and 2021.

Source

HTML PDF
ZIP