Quarterly report [Sections 13 or 15(d)]

PROPERTY AND EQUIPMENT (Tables)

v3.25.3
PROPERTY AND EQUIPMENT (Tables)
 9 Months Ended
Sep. 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):
September 30, 2025 December 31, 2024
Proved oil and natural gas properties $ 3,779,424  $ 3,349,805 
Unproved properties 208,050  221,650 
Other depreciable property and equipment 12,393  10,905 
Land 386  386 
Total property and equipment 4,000,253  3,582,746 
Accumulated DD&A (1,786,883) (1,564,475)
Property and equipment, net $ 2,213,370  $ 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):
September 30, 2025 December 31, 2024
Utica & Marcellus $ 184,303  $ 197,513 
SCOOP 23,747  24,137 
Total unproved properties $ 208,050  $ 221,650 
Schedule of Asset Retirement Obligation
The following table provides a reconciliation of the Company’s asset retirement obligation for the nine months ended September 30, 2025 and 2024 (in thousands):
Nine Months Ended September 30, 2025 Nine Months Ended September 30, 2024
Asset retirement obligation, beginning of period $ 32,949  $ 29,941 
Liabilities incurred 520  681 
Liabilities settled (1,673) — 
Accretion expense 1,802  1,705 
Total asset retirement obligation, end of period $ 33,598  $ 32,327