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Natural Gas and Oil Exploration, Development and Production Activities
 9 Months Ended
Sep. 30, 2025
Extractive Industries [Abstract]  
Natural Gas and Oil Exploration, Development and Production Activities

(15) NATURAL GAS AND OIL EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization (a)

 

 

September 30,
2025

 

 

December 31,
2024

 

 

(in thousands)

 

Natural gas properties:

 

 

 

 

 

Properties subject to depletion

$

11,450,212

 

 

$

11,058,771

 

Unproved properties

 

844,308

 

 

 

819,656

 

Total

 

12,294,520

 

 

 

11,878,427

 

Accumulated depletion and depreciation

 

(5,667,298

)

 

 

(5,456,727

)

Net capitalized costs

$

6,627,222

 

 

$

6,421,700

 
(a)
Includes capitalized asset retirement costs and the associated accumulated amortization.

 

 

Costs Incurred for Property Acquisition, Exploration and Development (b)

 

 

 

 

Nine Months Ended
September 30, 2025

 

 

Year Ended
December 31, 2024

 

 

(in thousands)

 

Acquisitions:

 

 

 

 

 

Acreage purchases

$

43,006

 

 

$

57,869

 

Development

 

433,417

 

 

 

577,093

 

Exploration:

 

 

 

 

 

Drilling

 

4,593

 

 

 

12,569

 

Expense

 

21,426

 

 

 

25,489

 

Stock-based compensation expense

 

998

 

 

 

1,354

 

Pipeline and facilities:

 

 

 

 

 

Development

 

6,922

 

 

 

4,336

 

Subtotal

 

510,362

 

 

 

678,710

 

Asset retirement obligations

 

3,007

 

 

 

13,845

 

Total costs incurred

$

513,369

 

 

$

692,555

 

(b) Includes costs incurred whether capitalized or expensed.