Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT (Tables)

v3.24.2.u1
PROPERTY AND EQUIPMENT (Tables)
 6 Months Ended
Jun. 30, 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):
June 30, 2024 December 31, 2023
Proved oil and natural gas properties $ 3,171,811  $ 2,904,519 
Unproved properties 218,399  204,233 
Other depreciable property and equipment 10,424  8,779 
Land 386  386 
Total property and equipment 3,401,020  3,117,917 
Accumulated DD&A (1,024,142) (865,618)
Property and equipment, net $ 2,376,878  $ 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):
June 30, 2024 December 31, 2023
Utica & Marcellus $ 193,309  $ 177,888 
SCOOP 25,090  26,345 
Total unproved properties $ 218,399  $ 204,233 
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, 2024 and 2023 (in thousands):
Six Months Ended June 30, 2024 Six Months Ended June 30, 2023
Asset retirement obligation, beginning of period $ 29,941  $ 33,171 
Liabilities incurred 375  73 
Liabilities settled —  (165)
Liabilities removed due to divestitures —  (919)
Accretion expense 1,122  1,478 
Total asset retirement obligation, end of period $ 31,438  $ 33,638