XML 23 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 401,201 $ 1,019,443 [1] $ 133,561 [1]
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 535,661 494,229 [1] 388,612 [1]
Impairment of oil and gas properties 406,898 2,201 [2] 52,295 [2]
Amortization of non-cash debt related items, net 10,790 12,332 [1] 20,033 [1]
Deferred income tax (benefit) expense (187,270) 6,308 [1] 0 [1]
(Gain) loss on derivative contracts (18,898) 330,953 [1] 522,300 [1]
Cash received (paid) for commodity derivative settlements, net 2,922 (493,714) [1] (395,097) [1]
Gain on sale of oil and gas properties (23,476) 0 0
(Gain) loss on extinguishment of debt (1,238) 45,658 [1] 41,040 [1]
Non-cash expense related to share-based awards 11,413 8,042 [1] 25,857 [1]
Other, net 5,387 7,136 [1] 11,037 [1]
Changes in current assets and liabilities:      
Accounts receivable 48,285 (3,480) [1] (86,402) [1]
Other current assets (16,462) (15,392) [1] (10,399) [1]
Accounts payable and accrued liabilities (82,684) (58,043) [1] 146,910 [1]
Net cash provided by operating activities 1,092,529 1,355,673 [1] 849,747 [1]
Cash flows from investing activities:      
Capital expenditures (968,982) (848,688) [1] (454,361) [1]
Acquisition of oil and gas properties (287,939) (26,706) [1] (493,462) [1]
Proceeds from sales of assets 553,222 27,093 [1] 188,101 [1]
Cash paid for settlement of contingent consideration arrangement 0 (19,171) [1] 0 [1]
Other, net (3,612) 14,289 [1] 7,718 [1]
Net cash used in investing activities (707,311) (853,183) [1] (752,004) [1]
Cash flows from financing activities:      
Borrowings on credit facility 3,513,000 3,286,000 [1] 2,140,500 [1]
Payments on credit facility (3,651,000) (3,568,000) [1] (2,340,500) [1]
Payment of deferred financing costs (922) (21,898) [1] (12,672) [1]
Cash paid to repurchase common stock (55,505) 0 [1] 0 [1]
Other, net (3,623) 1,715 [1] (2,670) [1]
Net cash used in financing activities (385,288) (508,977) [1] (108,097) [1]
Net change in cash and cash equivalents (70) (6,487) [1] (10,354) [1]
Balance, beginning of period [1] 3,395 9,882 20,236
Balance, end of period 3,325 3,395 [1] 9,882 [1]
Issuance of 7.5% Senior Notes due 2030      
Cash flows from financing activities:      
Issuance of 7.5% Senior Notes due 2030 0 600,000 [1] 650,000 [1]
6.125% Senior Notes      
Cash flows from financing activities:      
Redemption of Senior Notes 0 (467,287) [1] (542,755) [1]
9.0% Second Lien Senior Secured Notes Due 2025      
Cash flows from financing activities:      
Redemption of 9.0% Second Lien Senior Secured Notes due 2025 0 (339,507) [1] 0 [1]
8.25% Senior Notes due 2025      
Cash flows from financing activities:      
Redemption of Senior Notes $ (187,238) $ 0 [1] $ 0 [1]
[1] Financial information for the prior periods has been recast to reflect retrospective application of the successful efforts method of accounting. See “Note 2 - Summary of Significant Accounting Policies” for additional information.
[2] Financial information for the prior periods has been recast to reflect retrospective application of the successful efforts method of accounting. See “Note 2 - Summary of Significant Accounting Policies” for additional information.