Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT (Tables)

v3.24.3
PROPERTY AND EQUIPMENT (Tables)
 9 Months Ended
Sep. 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):
September 30, 2024 December 31, 2023
Proved oil and natural gas properties $ 3,276,165  $ 2,904,519 
Unproved properties 224,370  204,233 
Other depreciable property and equipment 10,928  8,779 
Land 386  386 
Total property and equipment 3,511,849  3,117,917 
Accumulated DD&A and impairment (1,137,464) (865,618)
Property and equipment, net $ 2,374,385  $ 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):
September 30, 2024 December 31, 2023
Utica & Marcellus $ 199,743  $ 177,888 
SCOOP 24,627  26,345 
Total unproved properties $ 224,370  $ 204,233 
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, 2024 and 2023 (in thousands):
Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023
Asset retirement obligation, beginning of period $ 29,941  $ 33,171 
Liabilities incurred 681  505 
Liabilities settled —  (604)
Liabilities removed due to divestitures —  (919)
Accretion expense 1,705  2,117 
Total asset retirement obligation, end of period $ 32,327  $ 34,270