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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net income including noncontrolling interest $ 723,681 $ 1,138,719 $ 47,528
Adjustments to reconcile net income to net cash provided by continuing operations activities      
Depreciation, depletion and amortization 861,602 776,817 795,105
Deferred income tax expense (benefit) 179,823 286,079 (4,146)
Unsuccessful exploration well costs and previously suspended exploration costs 169,795 82,085 17,339
Contingent consideration payment (139,574) 0  
Long-term non-cash compensation 61,953 89,246 63,382
Accretion of asset retirement obligations 46,059 46,243 46,613
Amortization of undeveloped leases 10,925 13,300 18,925
Mark to market loss on contingent consideration 7,113 78,285 63,147
Mark to market (gain) loss on derivative instruments 0 (214,788) 112,113
Loss from discontinued operations 1,467 2,078 1,225
Gain from sale of assets (12) (17,899) 0
Impairment of assets 0 0 196,296
Other operating activities, net (74,716) (34,193) (53,821)
Net (increase) decrease in noncash working capital (99,361) (65,728) 118,457
Net cash provided by continuing operations activities 1,748,755 2,180,244 1,422,163
Investing Activities      
Property additions and dry hole costs [1] (1,066,015) (985,461) (650,235)
Acquisition of oil and natural gas properties [1] (35,578) (128,538) (20,244)
Proceeds from sales of property, plant and equipment 102,913 4,528 270,503
Property additions for King's Quay FPS 0 0 (17,734)
Net cash required by investing activities (998,680) (1,109,471) (417,710)
Financing Activities      
Borrowings on revolving credit facility 600,000 400,000 165,000
Repayment of revolving credit facility (600,000) (400,000) (365,000)
Retirement of debt (498,175) (647,707) (876,358)
Early redemption of debt cost 0 (8,295) (39,335)
Repurchase of common stock (150,022) 0 0
Contingent consideration paid (60,243) (81,742) 0
Cash dividends paid (170,978) (128,219) (77,204)
Distributions to noncontrolling interest (29,382) (183,038) (137,517)
Withholding tax on stock-based incentive awards (14,276) (17,631) (5,209)
Finance lease obligation payments (622) (636) (803)
Debt issuance, net of cost 0 0 541,913
Issue costs of debt facility (20) (14,353) 0
Net cash required by financing activities (923,718) (1,081,621) (794,513)
Net cash required by discontinued operations 0 (14,500) 0
Effect of exchange rate changes on cash and cash equivalents (1,246) (3,873) 638
Net (decrease) increase in cash and cash equivalents (174,889) (29,221) 210,578
Cash and cash equivalents at beginning of period 491,963 521,184 310,606
Cash and cash equivalents at end of period $ 317,074 $ 491,963 $ 521,184
[1] Certain prior-period amounts have been reclassified to conform to the current period presentation.