XML 20 R6.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 2,013,065 $ 3,098,188 $ 4,046,120
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation, depletion, amortization and accretion 2,485,265 2,265,948 1,886,491
Property impairments 43,199 66,798 70,417
Non-cash (gain) loss on derivatives, net 350,417 (686,598) 212,976
Stock-based compensation 0 0 217,650
Provision (benefit) for deferred income taxes (163,214) 328,970 398,429
Equity in net loss of affiliate 3,653 3,129 1,489
Dry hole costs 0 0 12,305
Net (gain) loss on sale of assets and other 36,791 50,581 262
Loss on extinguishment of debt 1,600 0 403
Other, net 56,612 21,594 27,294
Changes in assets and liabilities:      
Accounts receivable (11,468) 222,091 (372,529)
Inventories 5,589 (17,600) (67,478)
Other current assets 623 (6,118) (10,242)
Accounts payable trade 2,622 (38,740) 164,071
Revenues and royalties payable (85,351) (111,738) 253,286
Accrued liabilities and other 54,698 2,940 51,222
Incentive compensation liability (61,329) (53,429) 0
Current income taxes liability (62,897) (67,593) 152,149
Other noncurrent assets and liabilities (31,044) (17,436) (4,625)
Net cash provided by operating activities 4,638,831 5,060,987 7,039,690
Cash flows from investing activities:      
Exploration and development (3,030,955) (3,550,502) (2,838,075)
Purchase of producing crude oil and natural gas properties (8,557) (161,408) (421,850)
Purchase of other property and equipment (268,437) (205,356) (68,189)
Proceeds from sale of assets 546,109 390,034 5,740
Contributions to unconsolidated affiliates (21,527) (33,862) (212,294)
Net cash used in investing activities (2,783,367) (3,561,094) (3,534,668)
Cash flows from financing activities:      
Credit facility borrowings 3,932,000 4,792,000 3,886,000
Repayment of credit facility (4,122,000) (5,742,000) (3,226,000)
Redemption and repurchase of Senior Notes (893,126) (636,000) (31,829)
Proceeds from other debt 0 0 750,000
Repayment of other debt (752,495) (2,410) (2,326)
Debt issuance costs (5,359) (242) (5,148)
Contributions from noncontrolling interests 22,953 10,580 13,665
Distributions to noncontrolling interests (22,428) (31,156) (40,685)
Repurchase of common stock prior to take-private transaction 0 0 (99,855)
Take-private transaction (see Note 1) 0 0 (4,312,642)
Repurchase of restricted stock for tax withholdings 0 0 (35,444)
Dividends paid on common stock (2,342) (2,056) (283,838)
Net cash used in financing activities (1,842,797) (1,611,284) (3,388,102)
Net change in cash and cash equivalents 12,667 (111,391) 116,920
Cash and cash equivalents at beginning of period 26,397 137,788 20,868
Cash and cash equivalents at end of period $ 39,064 $ 26,397 $ 137,788