Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 52,035 $ 523,054
Adjustments to reconcile net income to net cash provided by operating activities:    
Depletion, depreciation and amortization 80,023 79,094
Net gain on derivative instruments (45,136) (378,061)
Net cash receipts on settled derivative instruments 65,322 367
Deferred income tax expense 14,853 0
Stock-based compensation expense 2,403 2,205
Other, net 1,568 2,637
Changes in operating assets and liabilities, net 16,954 74,759
Net cash provided by operating activities 188,022 304,055
Cash flows from investing activities:    
Additions to oil and natural gas properties (118,146) (130,400)
Proceeds from sale of oil and natural gas properties 0 2,463
Other, net (806) (644)
Net cash used in investing activities (118,952) (128,581)
Cash flows from financing activities:    
Debt issuance costs and loan commitment fees (107) (7)
Dividends on preferred stock (1,105) (1,307)
Shares exchanged for tax withholdings (1,085) (287)
Net cash used in financing activities (62,790) (179,273)
Net change in cash and cash equivalents 6,280 (3,799)
Cash and cash equivalents at beginning of period 1,929 7,259
Cash and cash equivalents at end of period 8,209 3,460
Nonrelated Party    
Cash flows from financing activities:    
Repurchase of common stock under Repurchase Program (14,491) (32,672)
Related Party    
Cash flows from financing activities:    
Repurchase of common stock under Repurchase Program (15,002) 0
Credit Facility due 2027    
Cash flows from financing activities:    
Principal payments on Credit Facility (303,000) (313,000)
Borrowings on Credit Facility $ 272,000 $ 168,000