v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows provided by (used in) operating activities:    
Net income including noncontrolling interests $ 548,213 $ 219,466
Adjustments to reconcile net income to net cash provided by operating activities:    
Depletion, depreciation, amortization and accretion 207,302 187,291
Impairment of property and equipment 948 5,618
Commodity derivative fair value losses (gains) (35,023) 71,671
Losses on settled commodity derivatives (165,135) (11,017)
Deferred income tax expense 143,820 53,462
Equity-based compensation expense 11,733 15,145
Equity in earnings of unconsolidated affiliate (30,118) (28,661)
Dividends of earnings from unconsolidated affiliate 31,314 31,314
Amortization of deferred revenue (5,795) (6,230)
Amortization of debt issuance costs and other 420 466
Settlement of asset retirement obligations (107) (54)
Contract termination, loss contingency and settlements 10,837 (1,308)
Gain on sale of assets (45,950) (575)
Loss on early extinguishment of debt 6,742 2,899
Changes in current assets and liabilities:    
Accounts receivable 1,302 (5,972)
Accrued revenue 49,149 (59,769)
Prepaid expenses and other current assets 4,596 (2,190)
Accounts payable including related parties 60,720 11,995
Accrued liabilities (46,571) (86,552)
Revenue distributions payable 120,021 48,286
Other current liabilities (9,360) 12,454
Net cash provided by operating activities 859,058 457,739
Cash flows provided by (used in) investing activities:    
Additions to unproved properties (16,922) (30,407)
Drilling and completion costs (184,551) (175,134)
Additions to other property and equipment (4,628) (604)
Acquisition of HG Production (2,794,308)  
Acquisitions of oil and gas properties (7,631)  
Proceeds from asset sales 737,123 575
Change in other assets (12,569) (2,321)
Net cash used in investing activities (2,283,486) (207,891)
Cash flows provided by (used in) financing activities:    
Issuance of senior notes 750,000  
Repayment of senior notes (369,997) (118,046)
Borrowings on Term Loan 1,500,000  
Repayments on Term Loan (236,000)  
Borrowings on Credit Facility 2,079,800 1,308,400
Repayments on Credit Facility (2,445,900) (1,397,500)
Repurchases of common stock   (10,094)
Payment of debt issuance costs (10,838)  
Distributions to noncontrolling interests in Martica Holdings LLC (17,650) (15,969)
Employee tax withholding for settlement of equity-based compensation awards (34,732) (16,298)
Other (255) (341)
Net cash provided by (used in) financing activities 1,214,428 (249,848)
Net decrease in cash, cash equivalents and restricted cash (210,000) 0
Cash, cash equivalents and restricted cash, beginning of period 210,000 0
Cash, cash equivalents and restricted cash, end of period 0 0
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 50,616 43,078
Increase (decrease) in accounts payable, accrued liabilities and other current liabilities for additions to property and equipment 44,277 $ (19,271)
Increase in accounts payable, related parties for acquisition of HG Production $ 10,809  

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