Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT (Tables)

v3.24.1.u1
PROPERTY AND EQUIPMENT (Tables)
 3 Months Ended
Mar. 31, 2024
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, 2024 December 31, 2023
Proved oil and natural gas properties $ 3,033,571  $ 2,904,519 
Unproved properties 207,644  204,233 
Other depreciable property and equipment 9,598  8,779 
Land 386  386 
Total property and equipment 3,251,199  3,117,917 
Accumulated DD&A (945,646) (865,618)
Property and equipment, net $ 2,305,553  $ 2,252,299 
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, 2024 December 31, 2023
Utica & Marcellus $ 182,034  $ 177,888 
SCOOP 25,610  26,345 
Total unproved properties $ 207,644  $ 204,233 
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, 2024 and 2023 (in thousands):
Three Months Ended March 31, 2024 Three Months Ended March 31, 2023
Asset retirement obligation, beginning of period $ 29,941  $ 33,171 
Liabilities incurred 214  — 
Liabilities settled —  (165)
Liabilities removed due to divestitures —  (919)
Accretion expense 555  764 
Total asset retirement obligation, end of period $ 30,710  $ 32,851