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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income (loss) $ 1,286,317 $ 640,636 $ (553,560)
Adjustments to reconcile net income (loss) to net cash provided by operating activities      
Unrealized (gain) loss on derivatives (18,809) (21,011) 32,008
Depletion, depreciation and amortization 466,348 344,905 361,831
Accretion of asset retirement obligations 2,421 2,068 1,948
Full-cost ceiling impairment 0 0 684,743
Stock-based compensation expense 15,123 9,039 13,625
Net deferred income tax provision (benefit) 344,480 74,710 (45,599)
Amortization of debt issuance cost and other debt related costs (517) 3,659 2,832
Net loss on asset sales and impairment 1,311 331 2,832
Changes in operating assets and liabilities      
Accounts receivable (205,426) (98,456) 53,001
Lease and well equipment inventory (2,847) (1,537) (655)
Prepaid expenses (22,952) (11,786) (3,010)
Other assets 175 56 1,681
Accounts payable, accrued liabilities and other current liabilities 63,455 76,891 (43,844)
Royalties payable 23,339 28,310 (19,144)
Advances from joint interest owners 34,283 7,018 (10,646)
Other long-term liabilities (7,962) (1,478) (461)
Net cash provided by operating activities 1,978,739 1,053,355 477,582
Investing activities      
Drilling, completion and equipping capital expenditures (771,830) (431,136) (471,087)
Acquisition of oil and natural gas properties (155,074) (238,609) (72,809)
Midstream capital expenditures (80,051) (63,359) (234,359)
Payments to Acquire Businesses, Net of Cash Acquired (75,816) 0 0
Expenditures for other property and equipment (1,213) (376) (2,200)
Proceeds from sale of assets 46,507 4,215 4,789
Net cash used in investing activities (1,037,477) (729,265) (775,666)
Financing activities      
Purchase of senior unsecured notes (344,302) 0 0
Repayments of borrowings under Credit Agreement (300,000) (600,000) (35,000)
Borrowings under Credit Agreement 200,000 260,000 220,000
Repayments of borrowings under San Mateo Credit Facility (150,000) (84,000) 0
Borrowings under San Mateo Credit Facility 230,000 135,000 46,000
Cost to enter into or amend credit facilities (3,725) (4,108) (660)
Dividends paid (35,246) (14,581) 0
Contributions related to formation of San Mateo 28,250 48,626 14,700
Contributions from non-controlling interest owners of less-than-wholly-owned subsidiaries 0 0 119,700
Distributions to non-controlling interest owners of less-than-wholly-owned subsidiaries (85,995) (61,985) (45,570)
Taxes paid related to net share settlement of stock-based compensation (19,242) (8,211) (1,556)
Other (592) 706 6,725
Net cash (used in) provided by financing activities (480,852) (328,553) 324,339
Increase (decrease) in cash and restricted cash 460,410 (4,463) 26,255
Cash and restricted cash at beginning of period 86,920 91,383 65,128
Cash and restricted cash at end of period $ 547,330 $ 86,920 $ 91,383