Quarterly report [Sections 13 or 15(d)]

PROPERTY AND EQUIPMENT (Tables)

v3.26.1
PROPERTY AND EQUIPMENT (Tables)
 3 Months Ended
Mar. 31, 2026
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, 2026 December 31, 2025
Proved oil and natural gas properties $ 4,054,885  $ 3,902,539 
Unproved properties 251,020  232,959 
Other depreciable property and equipment 13,179  12,622 
Land 386  386 
Total property and equipment 4,319,470  4,148,506 
Accumulated DD&A (1,943,856) (1,868,481)
Property and equipment, net $ 2,375,614  $ 2,280,025 
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, 2026 December 31, 2025
Utica & Marcellus $ 229,617  $ 210,185 
SCOOP 21,403  22,774 
Total unproved properties $ 251,020  $ 232,959 
Schedule of Asset Retirement Obligation
The following table provides a reconciliation of the Company’s asset retirement obligation (in thousands):
Three Months Ended March 31, 2026 Three Months Ended March 31, 2025
Asset retirement obligation, beginning of period $ 32,912  $ 32,949 
Liabilities incurred 243  53 
Liabilities settled and divested (74) (1,266)
Accretion expense 598  618 
Total asset retirement obligation, end of period $ 33,679  $ 32,354