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Acquisitions and Dispositions of Oil and Gas Properties
12 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Acquisitions and Dispositions of Oil and Gas Properties Acquisitions and Dispositions of Oil and Gas Properties
Acquisitions
In 2022, the Company acquired a 145-mile pipeline and natural gas treating plant from an unaffiliated third party and the undeveloped deep rights on approximately 68,000 net undeveloped acres in East Texas for $35.6 million including transaction costs. The purchase price was allocated as follows: $18.8 million was allocated to unproved oil and gas properties and $16.8 million to other property and equipment.
In 2021, the Company acquired approximately 17,500 net acres of predominantly undeveloped Haynesville shale acreage in East Texas from an unaffiliated third party, which also included interests in 37 producing wells for $34.7 million.
During 2022 and 2021, the Company acquired an additional 36,100 and 32,556 net acres through direct leasing for $35.6 million and $22.9 million, respectively.
Dispositions
In December 2022, the Company sold its interest in certain nonstrategic, non-operated properties for $4.1 million. In November 2021, the Company sold its non-operated properties in the Bakken shale for $138.1 million after selling expenses and incurred a $162.2 million pre-tax loss on the divestiture.