Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net (loss) income $ (261,386,000) $ 1,470,916,000 $ 494,701,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depletion, depreciation and amortization 325,723,000 319,715,000 267,761,000
Impairment of oil and natural gas properties 373,214,000 0 0
Loss on debt extinguishment 13,388,000 0 0
Net (gain) loss on derivative instruments (29,527,000) (740,319,000) 999,747,000
Net cash receipts (payments) on settled derivative instruments 282,637,000 152,199,000 (1,053,810,000)
Deferred income tax benefit (56,077,000) (525,156,000) 0
Stock-based compensation expense 10,958,000 9,480,000 5,723,000
Other, net 6,315,000 7,645,000 5,528,000
Changes in operating assets and liabilities, net (15,212,000) 28,701,000 19,427,000
Net cash provided by operating activities 650,033,000 723,181,000 739,077,000
Cash flows from investing activities:      
Additions to oil and natural gas properties (454,098,000) (537,360,000) (460,780,000)
Proceeds from sale of oil and natural gas properties 225,000 2,659,000 3,360,000
Other, net (2,120,000) (2,526,000) (875,000)
Net cash used in investing activities (455,993,000) (537,227,000) (458,295,000)
Cash flows from financing activities:      
Issuance of 2029 Senior Notes 650,000,000 0 0
Early retirement of 2026 Senior Notes (524,298,000) 0 0
Premium paid on 2026 Senior Notes (12,941,000) 0 0
Debt issuance costs and loan commitment fees (14,933,000) (7,068,000) (234,000)
Dividends on preferred stock (4,230,000) (4,840,000) (5,444,000)
Shares exchanged for tax withholdings (23,614,000) (3,207,000) (1,623,000)
Other, net (3,000) (4,000) 0
Net cash used in financing activities (194,496,000) (191,284,000) (276,783,000)
Net change in cash and cash equivalents (456,000) (5,330,000) 3,999,000
Cash and cash equivalents at beginning of period 1,929,000 7,259,000 3,260,000
Cash and cash equivalents at end of period 1,473,000 1,929,000 7,259,000
Nonrelated Party      
Cash flows from financing activities:      
Repurchase of common stock under Repurchase Program (105,344,000) (108,735,000) (250,482,000)
Related Party      
Cash flows from financing activities:      
Repurchase of common stock under Repurchase Program (79,133,000) (40,430,000) 0
New Credit Facility      
Cash flows from financing activities:      
Principal payments on Credit Facility (1,036,000,000) (998,000,000) (2,082,000,000)
Borrowings on Credit Facility $ 956,000,000 $ 971,000,000 $ 2,063,000,000