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STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 242,115 $ 1,734,544 $ 1,780,942
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred income tax expense 14,732 384,666 534,612
Depreciation, depletion and amortization 2,162,350 1,732,142 1,665,962
(Gain) loss on sale/exchange of long-lived assets (764,044) 17,445 (8,446)
Impairments 97,368 109,421 390,801
(Income) loss from investments (76,039) (7,596) 4,931
Loss on debt extinguishment 68,299 80 140,029
Share-based compensation expense 158,344 49,834 45,201
Distributions from equity method investments 66,200 18,693 50,220
Other 15,069 16,943 32,645
(Gain) loss on derivatives (51,117) (1,838,941) 4,642,932
Net cash settlements received (paid) on derivatives 1,217,895 900,650 (5,927,698)
Net premiums (paid) received on derivatives (42,394) (322,663) 14,200
Changes in other assets and liabilities:      
Accounts receivable (220,446) 867,679 (168,978)
Accounts payable 16,512 (406,113) 181,459
Other current assets (85,256) 93,787 48,576
Other items, net 7,385 (171,721) 38,172
Net cash provided by operating activities 2,826,973 3,178,850 3,465,560
Cash flows from investing activities:      
Capital expenditures (2,253,709) (2,019,037) (1,400,443)
Cash paid for acquisitions, net of cash acquired (874,265) (2,271,881) (205,347)
Proceeds from sale/exchange of assets 1,696,121 4,200 8,572
Proceeds from sale of investment shares 0 0 189,249
Capital contributions to equity method investments (148,049) (12,092) (1,394)
Other investing activities (80) (14,845) (12,390)
Net cash used in investing activities (1,579,982) (4,313,655) (1,421,753)
Cash flows from financing activities:      
Proceeds from revolving credit facility borrowings 6,887,000 1,007,000 10,242,000
Repayment of revolving credit facility borrowings (7,451,200) (1,007,000) (10,242,000)
Proceeds from issuance of debt 750,000 1,250,000 1,000,000
Proceeds from net settlement of Capped Call Transactions (Note 10) 93,290 0 0
Debt issuance costs (18,854) (5,336) (26,506)
Repayment and retirement of debt (4,313,867) (1,015,836) (917,039)
(Premiums paid) discounts received on debt extinguishment (52,432) 5,178 (135,308)
Dividends paid (326,581) (228,339) (203,629)
Repurchase and retirement of common stock 0 (201,029) (409,485)
Net proceeds from the sale of units of the Midstream Joint Venture (Note 8) 3,410,392 0 0
Net (distribution to) contribution from noncontrolling interest (1,640) (7,322) 3,408
Cash paid for taxes to net settle share-based incentive awards (102,872) (41,780) (24,773)
Other financing activities 889 1,602 14,206
Net cash used in financing activities (1,125,875) (242,862) (699,126)
Net change in cash and cash equivalents 121,116 (1,377,667) 1,344,681
Cash and cash equivalents at beginning of year 80,977 1,458,644 113,963
Cash and cash equivalents at end of year $ 202,093 $ 80,977 $ 1,458,644