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
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 25,823 $ 616,741
Adjustments to reconcile net income to net cash provided by operating activities:    
Depletion, depreciation and amortization 158,576 159,242
Net gain on derivative instruments (36,522) (474,849)
Net cash receipts on settled derivative instruments 156,065 52,886
Deferred income tax expense 7,266 0
Stock-based compensation expense 5,746 5,043
Other, net 3,024 4,184
Changes in operating assets and liabilities, net (8,491) 48,159
Net cash provided by operating activities 311,487 411,406
Cash flows from investing activities:    
Additions to oil and natural gas properties (244,851) (283,406)
Proceeds from sale of oil and natural gas properties 0 2,648
Other, net (1,647) (835)
Net cash used in investing activities (246,498) (281,593)
Cash flows from financing activities:    
Debt issuance costs and loan commitment fees (106) (6,920)
Dividends on preferred stock (2,200) (2,587)
Shares exchanged for tax withholdings (21,584) (1,780)
Net cash used in financing activities (65,685) (131,803)
Net change in cash and cash equivalents (696) (1,990)
Cash and cash equivalents at beginning of period 1,929 7,259
Cash and cash equivalents at end of period 1,233 5,269
Related Party    
Cash flows from financing activities:    
Repurchase of common stock under Repurchase Program (15,002) (20,431)
Nonrelated Party    
Cash flows from financing activities:    
Repurchase of common stock under Repurchase Program (38,793) (54,085)
Credit Facility due 2027    
Cash flows from financing activities:    
Principal payments on Credit Facility (511,000) (518,000)
Borrowings on Credit Facility $ 523,000 $ 472,000