v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 648 $ 770 $ 818
Adjustments to reconcile net income to net cash provided by operating activities:      
Depletion, depreciation, and amortization 1,207 809 690
Stock-based compensation expense 29 25 20
Net derivative gain (178) (50) (68)
Net derivative settlement gain 132 69 27
Amortization of deferred financing costs 10 7 5
Deferred income taxes 178 175 88
Other, net (29) (35) (2)
Changes in working capital:      
Accounts receivable 30 (86) (10)
Prepaid expenses and other 1 (13) (2)
Accounts payable and accrued expenses (17) 109 8
Net cash provided by operating activities 2,011 1,783 1,574
Cash flows from investing activities:      
Capital expenditures (1,438) (1,311) (989)
Acquisition of proved and unproved oil and gas properties (34) (2,104) (110)
Other, net 4 7 1
Net cash used in investing activities (1,468) (3,407) (1,099)
Cash flows from financing activities:      
Proceeds from revolving credit facility 1,570 1,019 0
Repayment of revolving credit facility (1,638) (950) 0
Net proceeds from Senior Notes 0 1,477 0
Cash paid to repurchase Senior Notes 0 349 0
Repurchase of common stock (13) (86) (228)
Dividends paid (92) (85) (72)
Net proceeds from sale of common stock 3 3 3
Other, net (5) (20) (8)
Net cash provided by (used in) financing activities (175) 1,008 (305)
Net change in cash, cash equivalents, and restricted cash 368 (616) 171
Cash, cash equivalents, and restricted cash at beginning of period 0 616 445
Cash, cash equivalents, and restricted cash at end of period 368 0 616
Supplemental Cash Flow Information - Operating Activities [Abstract]      
Cash paid for interest, net of capitalized interest (1) (166) (88) [1] (87)
Supplemental Cash Flow Information - Investing Activities [Abstract]      
Changes in capital expenditure accruals $ (39) (24) $ 81
Debt Related Commitment Fees and Debt Issuance Costs   $ 9  
[1] Cash paid for interest, net of capitalized interest during the year ended December 31, 2024, does not include $9 million in fees paid to secure firm commitments for senior unsecured bridge term loans in connection with the Uinta Basin Acquisition.

Source

HTML PDF
ZIP