Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.23.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
[1]
Cash flows from operating activities:    
Net income $ 232,226 $ 797,575 [2]
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 391,911 359,494
Impairment of oil and gas properties 406,898 0 [2]
Amortization of non-cash debt related items, net 7,979 9,680
Deferred income tax (benefit) expense (206,041) 1,110
(Gain) loss on derivative contracts 24,218 305,098
Cash received (paid) for commodity derivative settlements, net 13,274 (433,518)
Gain on extinguishment of debt (1,238) 42,417
Gain on sale of oil and gas properties (20,570) 0
Non-cash expense related to share-based awards 9,524 4,427
Other, net 4,563 8,704
Changes in current assets and liabilities:    
Accounts receivable 14,219 (52,423)
Other current assets (13,178) (12,229)
Accounts payable and accrued liabilities (69,522) (8,649)
Net cash provided by operating activities 794,263 1,021,686
Cash flows from investing activities:    
Capital expenditures (751,004) (648,149)
Acquisition of oil and gas properties (278,434) (17,006)
Proceeds from sales of assets 551,446 9,313
Cash paid for settlement of contingent consideration arrangement 0 (19,171)
Other, net (2,850) 13,497
Net cash used in investing activities (480,842) (661,516)
Cash flows from financing activities:    
Borrowings on credit facility 2,629,500 2,535,000
Payments on credit facility (2,736,500) (2,684,000)
Issuance of 7.5% Senior Notes due 2030 0 600,000
Redemption of 9.0% Second Lien Senior Secured Notes due 2025 0 (339,507)
Payment of deferred financing costs (560) (11,623)
Cash paid to repurchase common stock (14,980) 0
Other, net (3,582) 1,715
Net cash used in financing activities (313,360) (365,702)
Net change in cash and cash equivalents 61 (5,532)
Balance, beginning of period 3,395 9,882
Balance, end of period 3,456 4,350
8.25% Senior Notes due 2025    
Cash flows from financing activities:    
Redemption of 6.125% Senior Notes due 2024 (187,238) 0
6.125% Senior Note Due 2024    
Cash flows from financing activities:    
Redemption of 6.125% Senior Notes due 2024 $ 0 $ (467,287)
[1] Financial information for the prior period 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 period 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.