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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income including noncontrolling interest $ 306,169 $ 344,018
Adjustments to reconcile net income to net cash provided by continuing operations activities    
Loss from discontinued operations 323 1,494
Depreciation, depletion and amortization 411,337 359,980
Unsuccessful exploration well costs and previously suspended exploration costs 96,533 34,102
Amortization of undeveloped leases 5,369 7,980
Accretion of asset retirement obligations 22,521 23,439
Deferred income tax expense 92,557 66,691
Contingent consideration payment (139,574) 0
Mark to market loss on contingent consideration 7,113 129,818
Mark to market loss on derivative instruments 0 100,343
Long-term non-cash compensation 22,076 40,467
Gain from sale of assets 0 (35)
Net increase in noncash working capital (15,340) (121,598)
Other operating activities, net (59,417) (27,458)
Net cash provided by continuing operations activities 749,667 959,241
Investing Activities    
Property additions and dry hole costs (694,753) (552,825)
Acquisition of oil and natural gas properties 0 (46,491)
Proceeds from sales of property, plant and equipment 0 47
Net cash required by investing activities (694,753) (599,269)
Financing Activities    
Borrowings on revolving credit facility 200,000 100,000
Repayment of revolving credit facility (200,000) (100,000)
Retirement of debt 0 (200,000)
Early redemption of debt cost 0 (3,438)
Distributions to noncontrolling interest (15,983) (94,854)
Contingent consideration payment (60,243) (81,742)
Cash dividends paid (85,867) (50,491)
Withholding tax on stock-based incentive awards (14,220) (16,697)
Capital lease obligation payments (296) (320)
Issue costs of debt facility (20) 0
Net cash required by financing activities (176,629) (447,542)
Effect of exchange rate changes on cash and cash equivalents (893) (1,595)
Net decrease in cash and cash equivalents (122,608) (89,165)
Cash and cash equivalents at beginning of period 491,963 521,184
Cash and cash equivalents at end of period $ 369,355 $ 432,019