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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income including noncontrolling interest $ 114,658 $ 214,314
Adjustments to reconcile net income to net cash provided by continuing operations activities    
Depreciation, depletion and amortization 211,134 195,670
Impairment of assets 34,528 0
Unsuccessful exploration well costs and previously suspended exploration costs 32,437 851
Deferred income tax expense 19,478 49,042
Accretion of asset retirement obligations 12,774 11,157
Long-term non-cash compensation 9,851 8,536
Amortization of undeveloped leases 2,793 2,653
Loss (income) from discontinued operations 872 (279)
Contingent consideration payment 0 (123,965)
Mark to market loss on contingent consideration 0 3,938
Other operating activities, net (15,381) (7,110)
Net increase in noncash working capital (24,353) (75,031)
Net cash provided by continuing operations activities 398,791 279,776
Investing Activities    
Property additions and dry hole costs (249,085) (345,319)
Net cash required by investing activities (249,085) (345,319)
Financing Activities    
Borrowings on revolving credit facility 100,000 100,000
Repayment of revolving credit facility (100,000) (100,000)
Repurchase of common stock (50,000) 0
Cash dividends paid (45,773) (42,925)
Withholding tax on stock-based incentive awards (25,270) (14,217)
Distributions to noncontrolling interest (23,001) (9,679)
Finance lease obligation payments (164) (139)
Contingent consideration payment 0 (47,678)
Issue costs of debt facility 0 (17)
Net cash required by financing activities (144,208) (114,655)
Effect of exchange rate changes on cash and cash equivalents 858 618
Net increase (decrease) in cash and cash equivalents 6,356 (179,580)
Cash and cash equivalents at beginning of period 317,074 491,963
Cash and cash equivalents at end of period $ 323,430 $ 312,383