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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ 650,617 $ 61,506 $ (29,434)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Impairment of proved and unproved oil and gas properties 0 0 46,878
Depreciation, depletion and amortization 301,813 106,367 96,414
Accretion of asset retirement obligation 2,652 1,065 307
Impairment of goodwill 0 0 17,620
Gain on sale of oil and gas properties, net (13,900) (738) (204)
Gain on sale of office and other equipment (321) (140) 0
Settlement of asset retirement obligations (910) (185) (195)
Total loss (gain) on derivative contracts, net 125,107 116,761 (59,899)
Operating portion of net cash (paid) received in settlement of derivative contracts (195,876) (75,966) 56,044
Stock-based compensation 35,369 21,014 10,054
Deferred income taxes 122,605 1,859 (657)
Amortization of deferred financing costs 5,529 856 322
Changes in assets and liabilities:      
(Increase) decrease in accounts receivable (168,314) (19,061) 11,914
(Increase) decrease in prepaid expenses and other current assets (16,282) 58 (203)
Increase (decrease) in accounts payable and accrued expenses 68,726 9,293 481
Increase (decrease) in revenues and royalties payable 98,840 5,985 (8,323)
Increase (decrease) in advances 3,224 2,200 (9,617)
Net cash provided by operating activities 1,018,879 230,874 131,502
Cash flows from investing activities:      
Acquisition of oil and gas properties (net of cash acquired) (1,523,813) (311,324) 0
Additions to oil and gas properties (491,836) (114,521) (88,097)
Additions to office and other equipment (2,133) (1,365) (114)
Proceeds from sale of oil and gas properties 49,546 975 414
Net cash used in investing activities (1,968,236) (426,235) (87,797)
Cash flows from financing activities:      
Proceeds from borrowings under Credit Agreement 3,096,013 744,132 136,056
Repayments of borrowings under Credit Agreement (3,145,877) (539,132) (191,056)
Proceeds from issuance of 8% Senior Notes due 2027, net 537,256 0 0
Proceeds from term loan 244,191 0 0
Proceeds from issuance Series A Convertible Preferred Stock, net of offering costs of $674 279,326 0 0
Cash paid to repurchase Class A Common Stock (43,937) 0 0
Cash paid related to the exchange and cancellation of Class A Common Stock (5,829) (4,144) (836)
Cash paid for finance leases (649) (70) (130)
Deferred financing costs (15,150) (2,906) (67)
Net cash provided by (used in) financing activities 945,344 197,880 (56,033)
Net increase (decrease) in cash (4,013) 2,519 (12,328)
Cash at beginning of period 4,013 1,494 13,822
Cash at end of period $ 0 $ 4,013 $ 1,494