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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income including noncontrolling interest $ 270,920 $ 306,169
Adjustments to reconcile net income to net cash provided by continuing operations activities    
Depreciation, depletion and amortization 426,677 411,337
Impairment of assets 34,528 0
Unsuccessful exploration well costs and previously suspended exploration costs 58,280 96,533
Deferred income tax expense 53,928 92,557
Accretion of asset retirement obligations 25,827 22,521
Long-term non-cash compensation 21,823 22,076
Amortization of undeveloped leases 5,778 5,369
Loss from discontinued operations 1,515 323
Contingent consideration payment 0 (139,574)
Mark-to-market loss on contingent consideration 0 7,113
Other operating activities, net (33,959) (59,417)
Net decrease (increase) in noncash working capital 1,126 (15,340)
Net cash provided by continuing operations activities 866,443 749,667
Investing Activities    
Property additions and dry hole costs (516,876) (694,753)
Net cash required by investing activities (516,876) (694,753)
Financing Activities    
Borrowings on revolving credit facility 200,000 200,000
Repayment of revolving credit facility (200,000) (200,000)
Retirement of debt (50,000) 0
Repurchase of common stock (105,887) 0
Cash dividends paid (91,545) (85,867)
Withholding tax on stock-based incentive awards (25,298) (14,220)
Distributions to noncontrolling interest (61,210) (15,983)
Finance lease obligation payments (331) (296)
Contingent consideration payment 0 (60,243)
Issue costs of debt facility 0 (20)
Net cash required by financing activities (334,271) (176,629)
Effect of exchange rate changes on cash and cash equivalents 1,249 (893)
Net increase (decrease) in cash and cash equivalents 16,545 (122,608)
Cash and cash equivalents at beginning of period 317,074 491,963
Cash and cash equivalents at end of period $ 333,619 $ 369,355