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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income $ 156,480 $ 154,622
Adjustments to reconcile net income to cash flows from operating activities    
Depletion, depreciation, and amortization 91,799 70,745
Deferred income taxes 47,051 15,992
Stock-based compensation 11,486 7,075
Commodity derivatives expense (income) (42,800) 249,573
Receipt (payment) on settlements of commodity derivatives 7,222 (221,016)
Debt issuance cost amortization 1,063 1,934
Other, net (4,176) (3,155)
Changes in assets and liabilities, net of effects from acquisitions    
Accrued production receivable 12,855 (85,786)
Trade and other receivables 5,545 (11,783)
Other current and long-term assets (315) (12,175)
Accounts payable and accrued liabilities (25,623) 52,010
Oil and natural gas production payable (9,914) 33,329
Asset retirement obligations and other liabilities (19,660) (11,257)
Net cash provided by operating activities 231,013 240,108
Cash flows from investing activities    
Oil and natural gas capital expenditures (210,418) (139,522)
CCUS storage sites and related capital expenditures (49,289) (17,758)
Acquisitions of oil and natural gas properties (42) (374)
Pipelines and plants capital expenditures (1,291) (20,264)
Net proceeds from sales of oil and natural gas properties and equipment 0 237
Equity investments (19,034) 0
Other (13,631) (5,623)
Net cash used in investing activities (293,705) (183,304)
Cash flows from financing activities    
Bank repayments (865,000) (524,000)
Bank borrowings 921,000 489,000
Common stock repurchase program 0 (23,374)
Other 7,748 (1,388)
Net cash provided by (used in) financing activities 63,748 (59,762)
Net increase (decrease) in cash, cash equivalents, and restricted cash 1,056 (2,958)
Cash, cash equivalents, and restricted cash at beginning of period 47,880 50,344
Cash, cash equivalents, and restricted cash at end of period $ 48,936 $ 47,386