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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net income $ 860,769 $ 971,343 $ 910,359
Adjustments to reconcile net income to net cash provided by operating activities      
Unrealized (gain) loss on derivatives (18,084) (13,299) 1,261
Depletion, depreciation and amortization 1,195,358 974,300 716,688
Accretion of asset retirement obligations 7,846 6,027 3,943
Stock-based compensation expense 18,327 14,982 13,661
Deferred income tax provision 165,587 265,305 172,104
Amortization of debt issuance cost and other debt related costs 14,764 16,533 7,047
Other non-cash changes 4,259 (1,386) (7,262)
Changes in operating assets and liabilities      
Accounts receivable 114,285 (138,137) 48,136
Lease and well equipment inventory (35,313) (10,934) (3,034)
Other assets (10) 4,052 646
Accounts payable, accrued liabilities and other current liabilities (8,930) 33,748 2,810
Royalties payable 123,196 56,193 34,273
Advances from joint interest owners (19,170) 63,384 (32,402)
Other long-term liabilities 2,131 4,774 (402)
Net cash provided by operating activities 2,425,015 2,246,885 1,867,828
Investing activities      
Drilling, completion and equipping capital expenditures (1,542,253) (1,222,831) (1,192,800)
Acquisition of oil and natural gas properties (339,126) (454,443) (187,655)
Midstream capital expenditures (297,746) (283,881) (165,719)
Expenditures for other property and equipment (4,246) (5,691) (3,636)
Proceeds from sale of assets and other 22,426 12,370 14,750
Proceeds from sale of equity method investment 3,263 113,576 0
Net cash used in investing activities (2,157,682) (3,672,114) (3,211,192)
Financing activities      
Repayments of borrowings under Credit Agreement (2,367,500) (3,969,500) (3,032,000)
Borrowings under Credit Agreement 2,170,000 4,065,000 3,532,000
Repayments of borrowings under San Mateo Credit Facility (345,000) (733,000) (171,000)
Borrowings under San Mateo Credit Facility 613,000 826,000 228,000
Cost to enter into or amend credit facilities (2,406) (33,436) (9,296)
Proceeds from issuance of senior unsecured notes 0 1,650,000 494,800
Proceeds from issuance of common stock 0 344,663 0
Issuance costs of senior unsecured notes 0 (28,157) (8,503)
Purchase of senior unsecured notes 0 (699,191) 0
Dividends paid (163,096) (104,876) (77,175)
Repurchases of common stock (55,849) 0 0
Contribution related to Pronto Transaction 0 171,500 0
Contributions related to formation of San Mateo 13,000 23,800 38,200
Contributions from non-controlling interest owners of less-than-wholly-owned subsidiaries 0 19,110 24,500
Distributions to non-controlling interest owners of less-than-wholly-owned subsidiaries (131,320) (97,461) (78,253)
Taxes paid related to net share settlement of stock-based compensation (11,960) (16,956) (22,910)
Other (1,467) (3,823) (16,031)
Net cash (used in) provided by financing activities (282,598) 1,413,673 902,332
Decrease in cash and restricted cash (15,265) (11,556) (441,032)
Cash and restricted cash at beginning of period 94,742 106,298 547,330
Cash and restricted cash at end of period 79,477 94,742 106,298
Advance      
Investing activities      
Payments to Acquire Businesses, Net of Cash Acquired 0 0 (1,676,132)
Ameredev      
Investing activities      
Payments to Acquire Businesses, Net of Cash Acquired $ 0 $ (1,831,214) $ 0