XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net income including noncontrolling interest $ 583,974 $ 918,094
Adjustments to reconcile net income to net cash provided by continuing operations activities    
Loss from discontinued operations 744 1,916
Depreciation, depletion and amortization 648,830 574,501
Unsuccessful exploration well costs and previously suspended exploration costs 107,825 35,224
Amortization of undeveloped leases 8,215 10,651
Accretion of asset retirement obligations 34,196 34,725
Deferred income tax expense 152,104 207,105
Contingent consideration payment (139,574) 0
Mark to market loss on contingent consideration 7,113 98,451
Mark to market gain on derivative instruments 0 (138,707)
Long-term non-cash compensation 42,502 57,612
Gain from sale of assets (12) (18,871)
Net increase in noncash working capital (142,788) (59,874)
Other operating activities, net (97,395) (42,101)
Net cash provided by continuing operations activities 1,205,734 1,678,726
Investing Activities    
Property additions and dry hole costs (902,295) (800,868)
Acquisition of oil and natural gas properties (22,773) (125,602)
Proceeds from sales of property, plant and equipment 102,913 (2,129)
Net cash required by investing activities (822,155) (928,599)
Financing Activities    
Borrowings on revolving credit facility 300,000 300,000
Repayment of revolving credit facility (300,000) (300,000)
Retirement of debt (248,675) (446,032)
Early redemption of debt cost 0 (5,419)
Repurchase of common stock (75,023) 0
Contingent consideration payment (60,243) (81,742)
Cash dividends paid (128,657) (89,354)
Distributions to noncontrolling interest (20,052) (145,273)
Withholding tax on stock-based incentive awards (14,232) (17,338)
Capital lease obligation payments (457) (475)
Issue costs of debt facility (20) 0
Net cash required by financing activities (547,359) (785,633)
Net cash required by discontinued operations 0 (14,500)
Effect of exchange rate changes on cash and cash equivalents (414) (5,180)
Net decrease in cash and cash equivalents (164,194) (55,186)
Cash and cash equivalents at beginning of period 491,963 521,184
Cash and cash equivalents at end of period $ 327,769 $ 465,998