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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 84,284 $ 443,772
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, depletion and amortization 194,757 188,405
Deferred income tax expense 52,089 152,647
Loss on sale of assets 170 1,500
Exploratory dry hole cost 2,011 16
Gain on derivative instruments (60,036) (71,906)
Net cash received in settlement of derivative instruments 19,423 68,377
Loss (earnings) on equity method investments 59 (7,334)
Distribution of earnings from equity method investments 0 8,750
Amortization of debt issuance costs 1,501 2,464
Stock-based compensation and other 23,463 21,058
Changes in assets and liabilities:    
Accounts receivable, net 91,106 179,027
Income taxes (25,547) (5,577)
Inventories (4,452) (8,305)
Other current assets (1,663) (2,263)
Accounts payable and accrued liabilities (36,453) (35,867)
Interest payable (97) (216)
Other assets and liabilities 718 (22,611)
Net cash provided by operating activities 341,333 911,937
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (331,183) (421,500)
Proceeds from sale of assets 275 2,346
Investment in equity method investments (35) (5,131)
Distribution of investment from equity method investments 0 758
Proceeds from sale of equity method investments (9,424) 0
Net cash used in investing activities (340,367) (423,527)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings from debt 0 95,000
Repayments of debt 0 (102,000)
Treasury stock repurchases 0 (156,638)
Dividends paid (79,675) (67,697)
Tax withholdings on vesting of stock awards (6,332) (10,557)
Capitalized debt issuance costs 0 7,411
Net cash used in financing activities (86,007) (249,303)
Net (decrease) increase in cash, cash equivalents and restricted cash (85,041) 239,107
Cash, cash equivalents and restricted cash, beginning of period 213,783 2,287
Cash, cash equivalents and restricted cash, end of period $ 128,742 $ 241,394