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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income $ 153,587 $ 405,045
Adjustments to reconcile net income to cash flows from operating activities    
Depletion, depreciation, and amortization 144,716 108,425
Deferred income taxes 39,436 53,301
Stock-based compensation 18,145 11,491
Commodity derivatives expense 42,451 140,325
Receipt (payment) on settlements of commodity derivatives 1,074 (276,796)
Debt issuance cost amortization 1,594 2,465
Gain from asset sales (403) (1,119)
Other, net (4,413) (11,543)
Changes in assets and liabilities, net of effects from acquisitions    
Accrued production receivable (17,676) (32,884)
Trade and other receivables 9,106 66
Other current and long-term assets 5,340 (21,729)
Accounts payable and accrued liabilities 9,738 28,359
Oil and natural gas production payable (872) 13,412
Asset retirement obligations and other liabilities (26,413) (22,409)
Net cash provided by operating activities 375,410 396,409
Cash flows from investing activities    
Oil and natural gas capital expenditures (320,422) (217,834)
CCUS storage sites and related capital expenditures (69,891) (27,518)
Acquisitions of oil and natural gas properties (1,427) (874)
Pipelines and plants capital expenditures 0 (22,259)
Net proceeds from sales of oil and natural gas properties and equipment 0 237
Equity investments (18,817) (10,000)
Other (17,993) (9,746)
Net cash used in investing activities (428,550) (287,994)
Cash flows from financing activities    
Bank repayments (1,399,000) (808,000)
Bank borrowings 1,440,000 788,000
Common stock repurchase program 0 (100,028)
Other 14,090 9,421
Net cash provided by (used in) financing activities 55,090 (110,607)
Net increase (decrease) in cash, cash equivalents, and restricted cash 1,950 (2,192)
Cash, cash equivalents, and restricted cash at beginning of period 47,880 50,344
Cash, cash equivalents, and restricted cash at end of period $ 49,830 $ 48,152