XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS — UNAUDITED - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income $ 634,418 $ 1,014,408
Adjustments to reconcile net income to net cash provided by operating activities    
Unrealized loss on derivatives 8,244 1,502
Depletion, depreciation and amortization 496,633 334,747
Accretion of asset retirement obligations 2,709 1,739
Stock-based compensation expense 10,777 10,887
Deferred income tax provision 119,609 266,489
Amortization of debt issuance cost and other debt-related costs 4,996 (682)
Other non-cash changes 14 1,311
Changes in operating assets and liabilities    
Accounts receivable 3,424 (170,101)
Lease and well equipment inventory (10,223) (1,732)
Prepaid expenses and other current assets (41,817) (21,886)
Other long-term assets 1,269 257
Accounts payable, accrued liabilities and other current liabilities 18,691 51,078
Royalties payable 22,655 40,014
Advances from joint interest owners (30,941) 8,919
Income taxes payable 8,873 3,439
Other long-term liabilities 150 (8,173)
Net cash provided by operating activities 1,249,481 1,532,216
Investing activities    
Drilling, completion and equipping capital expenditures (855,468) (545,453)
Acquisition of oil and natural gas properties (120,586) (134,255)
Midstream capital expenditures (75,609) (51,413)
Expenditures for other property and equipment (2,964) (690)
Proceeds from sale of assets 730 46,507
Net cash used in investing activities (2,662,324) (761,120)
Financing activities    
Purchase of senior unsecured notes 0 (283,960)
Repayments of borrowings under Credit Agreement (2,622,000) (300,000)
Borrowings under Credit Agreement 3,152,000 200,000
Repayments of borrowings under San Mateo Credit Facility (140,000) (120,000)
Borrowings under San Mateo Credit Facility 150,000 175,000
Cost to amend credit facilities (8,645) (506)
Proceeds from issuance of senior unsecured notes 494,800 0
Cost to issue senior unsecured notes (8,503) 0
Dividends paid (53,465) (23,494)
Contributions related to formation of San Mateo 23,700 22,750
Contributions from non-controlling interest owners of less-than-wholly-owned subsidiaries 24,500 0
Distributions to non-controlling interest owners of less-than-wholly-owned subsidiaries (61,103) (67,375)
Taxes paid related to net share settlement of stock-based compensation (22,833) (18,264)
Other (764) (447)
Net cash provided by (used in) financing activities 927,687 (416,296)
Change in cash and restricted cash (485,156) 354,800
Cash and restricted cash at beginning of period 547,330 86,920
Cash and restricted cash at end of period 62,174 441,720
Advance    
Investing activities    
Acquisition (1,608,427) 0
Midstream    
Investing activities    
Acquisition $ 0 $ (75,816)