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PROPERTY AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2023

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, 2023						December 31, 2022
Proved oil and natural gas properties			$	2,695,104					$	2,418,666
Unproved properties			188,461						178,472
Other depreciable property and equipment			7,033						5,977
Land			386						386
Total property and equipment			2,890,984						2,603,501
Accumulated DD&A			(705,153)						(545,771)
Property and equipment, net			$	2,185,831					$	2,057,730

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, 2023						December 31, 2022
Utica			$	159,412					$	147,370
SCOOP			29,049						31,102
Total unproved properties			$	188,461					$	178,472

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, 2023 and 2022 (in thousands):

			Six Months Ended June 30, 2023						Six Months Ended June 30, 2022
Asset retirement obligation, beginning of period			$	33,171					$	28,264
Liabilities incurred			73						22
Liabilities settled			(165)						—
Liabilities removed due to divestitures			(919)						(7)
Accretion expense			1,478						1,384
Total asset retirement obligation, end of period			$	33,638					$	29,663

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Schedule Of Property And Equipment

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Tabular disclosure of the carrying amount of a liability for asset retirement obligations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 410
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481850/410-20-50-1

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Tabular disclosure of the capitalized costs of unproved properties and major development projects that are excluded from capitalized costs being amortized. This includes the total costs excluded and, at a minimum, these categories of costs: acquisition costs, exploration costs, development costs in the case of significant development projects, and capitalized interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-10(c)(7)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479664/932-10-S99-1

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