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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 534,130 $ 281,998
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, depletion and amortization 299,294 288,210
Deferred income tax expense 188,997 131,799
Loss on sale of assets 1,464 14,850
Exploratory dry hole cost 16 56,425
(Gain) loss on derivative instruments (82,966) 1,628
Net cash received (paid) in settlement of derivative instruments 114,931 (20,354)
(Earnings) loss on equity method investments (11,194) 1,009
Distribution of earnings from equity method investments 12,610 0
Amortization of debt issuance costs 3,219 3,521
Stock-based compensation and other 22,720 16,472
Changes in assets and liabilities:    
Accounts receivable, net 203,164 (7,345)
Income taxes (16,746) (14,447)
Inventories (7,119) (5,326)
Other current assets (1,338) 104
Accounts payable and accrued liabilities (43,413) 32,192
Interest payable (12,825) (18,474)
Other assets and liabilities (22,133) 26,590
Net cash provided by operating activities 1,182,811 788,852
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (620,696) (647,503)
Proceeds from sale of assets 2,401 675,525
Investment in equity method investments (8,977) (72,866)
Distribution of investment from equity method investments 1,656 0
Net cash used in investing activities (625,616) (44,844)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings from debt 95,000 0
Repayments of debt (102,000) (237,000)
Treasury stock repurchases (347,446) (581,725)
Dividends paid (104,722) (81,185)
Tax withholdings on vesting of stock awards (10,587) (8,068)
Capitalized debt issuance costs (7,411) 0
Net cash used in financing activities (477,166) (907,978)
Net increase (decrease) in cash and cash equivalents 80,029 (163,970)
Cash and cash equivalents, beginning of period 2,287 480,047
Cash and cash equivalents, end of period $ 82,316 $ 316,077