v3.24.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 190,313 $ 315,417
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, and amortization 246,491 194,096
Loss (gain) on disposal of assets 88 (3,173)
Stock-based compensation expense 14,197 15,143
Unrealized gain on investments, net (7,201) 0
Cash return on equity method investment 2,005 0
Other non-cash items, net 150 3,388
Changes in operating assets and liabilities:    
Accounts receivable and unbilled revenue (97,029) (105,849)
Accounts receivable and unbilled revenue—related party 24,779 (17,073)
Inventories (2,572) 11,406
Prepaid and other assets (8,812) (27,291)
Accounts payable and accrued liabilities 46,042 59,453
Initial payment of operating lease liability (864) (1,129)
Net cash provided by operating activities 407,587 444,388
Cash flows from investing activities:    
Purchases of property and equipment and construction in-progress (280,951) (292,281)
Investment in Tamboran Resources Corporation, Empire Energy Group Ltd., and Falcon Oil & Gas Ltd. (16,056) 0
Acquisition of Siren Energy, net of cash received 0 (74,896)
Proceeds from sale of assets 4,877 10,881
Net cash used in investing activities (292,130) (356,296)
Cash flows from financing activities:    
Proceeds from borrowings on line-of-credit 1,087,000 525,000
Repayments of borrowings on line-of-credit (1,080,000) (352,000)
Repayments of borrowings on term loan 0 (104,716)
Payments on finance lease obligations (20,441) (5,070)
Class A Common Stock dividends and dividend equivalents upon restricted stock vesting (23,867) (17,570)
Payments of payables pursuant to tax receivable agreements (5,170) 0
Share repurchases (59,743) (134,742)
Tax withholding on restricted stock units (19,767) (9,320)
Payments of equity issuance costs 0 (223)
Payments of debt issuance costs 0 (1,566)
Net cash used in financing activities (121,988) (100,207)
Net decrease in cash and cash equivalents before translation effect (6,531) (12,115)
Translation effect on cash (210) 106
Cash and cash equivalents—beginning of period 36,784 43,676
Cash and cash equivalents—end of period 30,043 31,667
Supplemental disclosure of cash flow information:    
Net cash paid for income taxes 24,379 49,044
Cash paid for interest 15,842 11,954
Non-cash investing and financing activities:    
Capital expenditures included in accounts payable and accrued liabilities 106,511 127,731
Capital expenditures reclassified from prepaid and other current assets 43,641 20,675
Capital expenditures reclassified from finance lease right-of-use assets $ 6,894 $ 0