XML 50 R30.htm IDEA: XBRL DOCUMENT

Natural Gas and Oil Reserves Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2024

Summary of Changes in Net Quantities of Proved Natural Gas and Oil Reserves

Set forth below is a summary of the Company's proved natural gas and oil reserves:


	Year Ended December 31,
	2024						2023						2022
	Oil (MBbls)			Natural Gas (MMcf)			Oil (MBbls)			Natural Gas (MMcf)			Oil (MBbls)			Natural Gas (MMcf)
Proved Reserves:
Beginning of period		548			4,940,226			549			6,697,570			627			6,118,083
Revisions of previous estimates		(49	)		(1,180,157	)		(47	)		(1,803,628	)		(61	)		(6,870	)
Extensions and discoveries		—			531,258			116			570,751			137			1,090,420
Acquisitions of minerals in place		—			—			—			—			6			260
Sales of minerals in place		(118	)		(1,681	)		—			—			(78	)		(3,707	)
Production		(50	)		(527,548	)		(70	)		(524,467	)		(82	)		(500,616	)
End of period		331			3,762,098			548			4,940,226			549			6,697,570
Proved Developed Reserves:
Beginning of period		548			2,734,175			480			2,531,462			627			2,245,660
End of period		331			2,731,812			548			2,734,175			480			2,531,462
Proved Undeveloped Reserves:
Beginning of period		—			2,206,051			69			4,166,108			—			3,872,423
End of period		—			1,030,286			—			2,206,051			69			4,166,108

Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves

The following table sets forth the standardized measure of discounted future net cash flows relating to proved reserves:


	As of December 31,
	2024			2023			2022
	(In thousands)
Cash Flows Relating to Proved Reserves:
Future Cash Flows	$	6,959,475		$	11,829,623		$	40,405,829
Future Costs:
Production		(2,760,616	)		(4,019,901	)		(5,473,650	)
Development and Abandonment		(1,014,446	)		(2,285,853	)		(4,175,721	)
Future Income Taxes		(22,990	)		(341,677	)		(5,741,914	)
Future Net Cash Flows		3,161,423			5,182,192			25,014,544
10% Discount Factor		(1,563,229	)		(2,807,562	)		(12,404,908	)
Standardized Measure of Discounted Future Net Cash Flows	$	1,598,194		$	2,374,630		$	12,609,636

Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves

The following table sets forth the changes in the standardized measure of discounted future net cash flows relating to proved reserves:


	Year Ended December 31,
	2024			2023			2022
	(In thousands)
Standardized Measure, Beginning of Year	$	2,374,630		$	12,609,636		$	5,775,605
Net change in sales price, net of production costs		(1,478,758	)		(14,069,134	)		8,600,315
Development costs incurred during the year which were previously estimated		452,533			1,004,650			788,450
Revisions of quantity estimates		(693,905	)		(1,583,876	)		(42,423	)
Accretion of discount		250,170			1,551,704			680,010
Changes in future development and abandonment costs		764,629			1,095,844			(869,115	)
Changes in timing and other		94,058			(374,087	)		(113,744	)
Extensions and discoveries		380,544			215,249			2,456,124
Acquisitions of minerals in place		—			—			604
Sales of minerals in place		(3,542	)		—			(3,313	)
Sales, net of production costs		(664,653	)		(855,699	)		(2,779,960	)
Net changes in income taxes		122,488			2,780,343			(1,882,917	)
Standardized Measure, End of Year	$	1,598,194		$	2,374,630		$	12,609,636

Summary of Prices Used in Determining Natural Gas and Oil Reserves Quantities and Cash Flows

Prices used in determining natural gas and oil reserves quantities and cash flows are as follows:


	Year Ended December 31,
	2024		2023		2022
Crude Oil: $/barrel	$	71.07	$	72.63	$	91.21
Natural Gas: $/Mcf	$	1.84	$	2.39	$	6.03

- Definition

Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period.

+ References + Details