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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income including noncontrolling interest $ 422,032 $ 583,974
Adjustments to reconcile net income to net cash provided by continuing operations activities    
Depreciation, depletion and amortization 650,309 648,830
Impairment of assets 34,528 0
Unsuccessful exploration well costs and previously suspended exploration costs 69,548 107,825
Deferred income tax expense 45,136 152,104
Accretion of asset retirement obligations 39,068 34,196
Long-term non-cash compensation 30,060 42,502
Amortization of undeveloped leases 7,707 8,215
Mark-to-market loss on derivative instruments 1,344 0
Loss from discontinued operations 2,123 744
Contingent consideration payment 0 (139,574)
Mark-to-market loss on contingent consideration 0 7,113
Other operating activities, net (38,260) (97,407)
Net decrease (increase) in noncash working capital 31,835 (142,788)
Net cash provided by continuing operations activities 1,295,430 1,205,734
Investing Activities    
Property additions and dry hole costs (733,289) (902,295)
Acquisition of oil and natural gas properties 0 (22,773)
Proceeds from sales of property, plant and equipment 0 102,913
Net cash required by investing activities (733,289) (822,155)
Financing Activities    
Borrowings on revolving credit facility 350,000 300,000
Repayment of revolving credit facility (350,000) (300,000)
Retirement of debt (50,000) (248,675)
Repurchase of common stock (300,132) (75,023)
Cash dividends paid (136,208) (128,657)
Withholding tax on stock-based incentive awards (25,310) (14,232)
Distributions to noncontrolling interest (96,618) (20,052)
Finance lease obligation payments (502) (457)
Contingent consideration payment 0 (60,243)
Issue costs of debt facility 0 (20)
Net cash required by financing activities (608,770) (547,359)
Effect of exchange rate changes on cash and cash equivalents 778 (414)
Net decrease in cash and cash equivalents (45,851) (164,194)
Cash and cash equivalents at beginning of period 317,074 491,963
Cash and cash equivalents at end of period $ 271,223 $ 327,769