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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – UNAUDITED - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income (loss) $ 113,791 $ (20,661)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Gain on extinguishment of debt 0 (2,157)
Depreciation, depletion and amortization 85,303 50,893
Derivative contracts:    
Net (gains) losses (25,658) 167,887
Cash settlements and premiums paid, net (7,358) (29,408)
Deferred income tax expense (benefit) 806 (721)
Non-cash interest expense 933 800
Share-based compensation 2,051 924
Other, net 349 (182)
Changes in operating assets and liabilities, net (9,968) (33,540)
Net cash provided by operating activities 160,249 133,835
Cash flows from investing activities    
Capital expenditures (171,464) (71,173)
Proceeds from sales of assets and other, net 447 656
Net cash used in investing activities (171,017) (70,517)
Cash flows from financing activities    
Proceeds from credit facility borrowings 156,000 50,000
Repayments of credit facility borrowings (131,000) (130,000)
Repayments of acquired and other debt (238) (83)
Payments for share repurchases (4,816) 0
Distributions to Noncontrolling interest (1,691) 0
Dividends paid (1,438) 0
Withholding taxes for share-based compensation (1,287) (445)
Debt issuance costs paid 0 (113)
Net cash provided by (used in) financing activities 15,530 (80,641)
Net increase (decrease) in cash and cash equivalents 4,762 (17,323)
Cash and cash equivalents – beginning of period 7,592 23,681
Cash and cash equivalents – end of period 12,354 6,358
Cash paid for:    
Interest, net of amounts capitalized 22,997 20,214
Non-cash investing and financing activities:    
Changes in accrued liabilities related to capital expenditures (22,408) 9,361
ROU assets obtained in exchange for lease obligations:    
Operating leases $ 15,865 $ 0