v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:        
Net income $ 201,665 $ 210,293 $ 383,934 $ 341,492
Adjustments to reconcile net income to net cash provided by operating activities:        
Depletion, depreciation, and amortization 292,990 179,651 562,890 345,839
Stock-based compensation expense     12,840 10,806
Net derivative (gain) loss (78,308) (12,118) (61,092) 16,027
Net derivative settlement gain     47,496 29,797
Amortization of deferred financing costs     5,102 2,743
Deferred income taxes 43,204 43,516 69,463 70,907
Other, net     (4,206) (17,756)
Net change in working capital     37,701 (47,473)
Net cash provided by operating activities     1,054,128 752,382
Cash flows from investing activities:        
Capital expenditures     (824,043) (655,049)
Acquisition of proved and unproved oil and gas properties     (14,919) 2
Other, net     0 80
Net cash used in investing activities     (838,962) (654,967)
Cash flows from financing activities:        
Proceeds from revolving credit facility     1,384,500 0
Repayment of revolving credit facility     (1,453,000) 0
Repurchase of common stock     (648) (83,991)
Dividends paid     (45,785) (41,541)
Net proceeds from sale of common stock     1,927 1,844
Other, net     (283) (22)
Net cash used in financing activities     (113,289) (123,710)
Net change in cash, cash equivalents, and restricted cash     101,877 (26,295)
Cash, cash equivalents, and restricted cash at beginning of period     0 616,164
Cash, cash equivalents, and restricted cash at end of period 101,877 589,869 101,877 589,869
Cash and cash equivalents 101,877 487,869 101,877 487,869
Restricted cash (1) $ 0 $ 102,000 [1] 0 102,000 [1]
Supplemental Cash Flow Information - Operating activities:        
Cash paid for interest, net of capitalized interest     (84,859) (41,559)
Net cash paid for income taxes     (5,220) (7,429)
Supplemental Cash Flow Information - Investing activities:        
Changes in capital expenditure accruals     $ 4,734 $ (21,491)
[1]
(1)    As of June 30, 2024, the amount represented a deposit held in a third-party escrow account related to the Uinta Basin assets acquired on October 1, 2024 (“Uinta Basin Acquisition”).

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