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PROPERTY AND EQUIPMENT (Tables) | 3 Months Ended
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Mar. 31, 2025
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):
| March 31, 2025 |  | December 31, 2024
Proved oil and natural gas properties | $ | 3,524,497 |  |  | $ | 3,349,805 |
Unproved properties | 215,154 |  |  | 221,650 |
Other depreciable property and equipment | 11,448 |  |  | 10,905 |
Land | 386 |  |  | 386 |
Total property and equipment | 3,751,485 |  |  | 3,582,746 |
Accumulated DD&A and impairment | (1,630,039) |  |  | (1,564,475) |
Property and equipment, net | $ | 2,121,446 |  |  | $ | 2,018,271 |
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):
| March 31, 2025 |  | December 31, 2024
Utica & Marcellus | $ | 191,063 |  |  | $ | 197,513 |
SCOOP | 24,091 |  |  | 24,137 |
Total unproved properties | $ | 215,154 |  |  | $ | 221,650 |
Schedule of Asset Retirement Obligation | The following table provides a reconciliation of the Company’s asset retirement obligation for the three months ended March 31, 2025 and 2024 (in thousands):
| Three Months Ended March 31, 2025 |  | Three Months Ended March 31, 2024
Asset retirement obligation, beginning of period | $ | 32,949 |  |  | $ | 29,941 |
Liabilities incurred | 53 |  |  | 214 |
Liabilities settled | (1,266) |  |  | — |
Accretion expense | 618 |  |  | 555 |
Total asset retirement obligation, end of period | $ | 32,354 |  |  | $ | 30,710 |

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- Definition 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 + Details
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- Definition 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 360 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477385/932-360-S50-1 Reference 2: 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 Reference 3: 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)(B)(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479664/932-10-S99-1 + Details
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