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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income including noncontrolling interest $ 89,418,000 $ 114,658,000
Adjustments to reconcile net income to net cash provided by continuing operations activities    
Depreciation, depletion and amortization 194,160,000 211,134,000
Deferred income tax expense 16,343,000 19,478,000
Accretion of asset retirement obligations 14,045,000 12,774,000
Long-term non-cash compensation 9,905,000 9,851,000
Mark-to-market loss on derivative instruments 8,916,000 0
Amortization of undeveloped leases 1,654,000 2,793,000
Loss from discontinued operations 633,000 872,000
Unsuccessful exploration well costs and previously suspended exploration costs 190,000 32,437,000
Impairment of assets 0 34,528,000
Other operating activities, net (11,799,000) (15,381,000)
Net (increase) in non-cash working capital (22,784,000) (24,353,000)
Net cash provided by continuing operations activities 300,681,000 398,791,000
Investing Activities    
Property additions and dry hole costs (368,421,000) (249,085,000)
Acquisition of oil and natural gas properties (1,364,000) 0
Net cash required by investing activities (369,785,000) (249,085,000)
Financing Activities    
Borrowings on revolving credit facility 250,000,000 100,000,000
Repayment of revolving credit facility (50,000,000) (100,000,000)
Repurchase of common stock (100,072,000) (50,000,000)
Cash dividends paid (47,026,000) (45,773,000)
Withholding tax on stock-based incentive awards (7,673,000) (25,270,000)
Distributions to noncontrolling interest (6,955,000) (23,001,000)
Finance lease obligation payments (116,000) (164,000)
Net cash provided (required) by financing activities 38,158,000 (144,208,000)
Effect of exchange rate changes on cash and cash equivalents 291,000 858,000
Net (decrease) increase in cash and cash equivalents (30,655,000) 6,356,000
Cash and cash equivalents at beginning of period 423,569,000 317,074,000
Cash and cash equivalents at end of period $ 392,914,000 $ 323,430,000