Quarterly report [Sections 13 or 15(d)]

PROPERTY AND EQUIPMENT (Tables)

v3.25.2
PROPERTY AND EQUIPMENT (Tables)
6 Months Ended
Jun. 30, 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):
June 30, 2025 December 31, 2024
Proved oil and natural gas properties $ 3,669,584  $ 3,349,805 
Unproved properties 211,626  221,650 
Other depreciable property and equipment 11,892  10,905 
Land 386  386 
Total property and equipment 3,893,488  3,582,746 
Accumulated DD&A (1,703,691) (1,564,475)
Property and equipment, net $ 2,189,797  $ 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):
June 30, 2025 December 31, 2024
Utica & Marcellus $ 188,190  $ 197,513 
SCOOP 23,436  24,137 
Total unproved properties $ 211,626  $ 221,650 
Schedule of Asset Retirement Obligation
The following table provides a reconciliation of the Company’s asset retirement obligation for the six months ended June 30, 2025 and 2024 (in thousands):
Six Months Ended June 30, 2025 Six Months Ended June 30, 2024
Asset retirement obligation, beginning of period $ 32,949  $ 29,941 
Liabilities incurred 222  375 
Liabilities settled (1,673) — 
Accretion expense 1,205  1,122 
Total asset retirement obligation, end of period $ 32,703  $ 31,438