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Oil and Natural Gas Properties | 9 Months Ended
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Sep. 30, 2023
Extractive Industries [Abstract] |
Oil and Natural Gas Properties | Oil and Natural Gas Properties Oil and natural gas properties are summarized below:
| September 30, 2023 |  | December 31, 2022
| (In thousands)
Proved | $ | 872,204 |  |  | $ | 516,011 |
Unproved | 110,234 |  |  | 12,770 |
Work-in-progress | 49,026 |  |  | 45,169 |
| 1,031,464 |  |  | 573,950 |
Accumulated depletion, amortization and impairment | (178,432) |  |  | (133,848) |
Total oil and natural gas properties, net | $ | 853,032 |  |  | $ | 440,102 |
Depletion and amortization expense for proved oil and natural gas properties was $17.8 million and $8.2 million, respectively, for the three months ended September 30, 2023 and 2022 and $44.6 million and $21.7 million, respectively, for the nine months ended September 30, 2023 and 2022. Exploration expense was $231 thousand and $20 thousand, respectively, for the three months ended September 30, 2023 and 2022 and $0.6 million and $1.5 million, respectively, for the nine months ended September 30, 2023 and 2022. On April 3, 2023, the Company closed on the New Mexico Acquisition. For further information regarding the acquisition, see Note 4 - Acquisitions of Oil and Natural Gas Properties.

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- Definition The entire disclosure for properties used in normal conduct of oil and gas exploration and producing operations. This disclosure may include property accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 932 -SubTopic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//932-360/tableOfContent + Details
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