Quarterly report [Sections 13 or 15(d)]

PROPERTY AND EQUIPMENT (Tables)

v3.25.1
PROPERTY AND EQUIPMENT (Tables)
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
The major categories of property and equipment and related accumulated DD&A are as follows (in thousands):
March 31, 2025 December 31, 2024
Proved oil and natural gas properties $ 3,524,497  $ 3,349,805 
Unproved properties 215,154  221,650 
Other depreciable property and equipment 11,448  10,905 
Land 386  386 
Total property and equipment 3,751,485  3,582,746 
Accumulated DD&A and impairment (1,630,039) (1,564,475)
Property and equipment, net $ 2,121,446  $ 2,018,271 
Schedule of Non-Producing Properties Excluded from Amortization by Area
The following table summarizes the Company’s non-producing properties excluded from amortization by area (in thousands):
March 31, 2025 December 31, 2024
Utica & Marcellus $ 191,063  $ 197,513 
SCOOP 24,091  24,137 
Total unproved properties $ 215,154  $ 221,650 
Schedule of Asset Retirement Obligation
The following table provides a reconciliation of the Company’s asset retirement obligation for the three months ended March 31, 2025 and 2024 (in thousands):
Three Months Ended March 31, 2025 Three Months Ended March 31, 2024
Asset retirement obligation, beginning of period $ 32,949  $ 29,941 
Liabilities incurred 53  214 
Liabilities settled (1,266) — 
Accretion expense 618  555 
Total asset retirement obligation, end of period $ 32,354  $ 30,710