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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
NET INCOME $ 106,648 $ 97,597
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 105,853 97,076
Exploration expenses, non-cash 123 1
Asset retirement obligations accretion 1,556 1,618
Amortization of deferred financing costs 532 1,089
Deferred income tax expense 12,342 8,708
(Gain) loss on revaluation of contingent consideration (1,352) 4,205
Stock based compensation 6,550 4,658
Other 230 2,921
Changes in operating assets and liabilities:    
Accounts receivable (9,968) (9,341)
Accounts payable (8,678) 19,424
Accrued liabilities 11,875 (17,246)
Drilling advances 1,620 (1,251)
Other assets and liabilities, net (2,841) 1,473
Net cash provided by operating activities 224,490 210,932
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisitions (24,144) (13,359)
Deposits for acquisitions of oil and natural gas properties 0 (13,150)
Additions to oil and natural gas properties (131,168) (120,986)
Changes in working capital associated with additions to oil and natural gas properties 9,210 20,244
Other investing 30 (57)
Net cash used in investing activities (146,072) (127,308)
CASH FLOW FROM FINANCING ACTIVITIES    
Class A Common Stock repurchases (52,393) (51,201)
Dividends paid (28,911) (24,010)
Distributions to noncontrolling interest owners (829) (2,837)
Other financing activities (8,776) (7,380)
Net cash used in financing activities (90,909) (85,428)
NET CHANGE IN CASH AND CASH EQUIVALENTS (12,491) (1,804)
Cash and cash equivalents – Beginning of period 260,049 401,121
Cash and cash equivalents – End of period $ 247,558 $ 399,317