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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment consists of the following (in thousands):
| December 31,
| 2024 |  | 2023
Oil and natural gas properties |  |  |
Proved | $ | 1,689,807 |  |  | $ | 1,538,724 |
Unproved | 23,504 |  |  | 11,197 |
Total oil and natural gas properties | 1,713,311 |  |  | 1,549,921 |
Less accumulated depreciation, depletion and impairment | (1,415,110) |  |  | (1,393,801) |
Net oil and natural gas properties capitalized costs | 298,201 |  |  | 156,120 |
Land | 200 |  |  | 200 |
Electrical infrastructure | 121,818 |  |  | 121,819 |
Non-oil and natural gas equipment | 1,634 |  |  | 1,656 |
Buildings and structures | 3,603 |  |  | 3,603 |
Financing Leases | 1,286 |  |  | 1,399 |
Total | 128,541 |  |  | 128,677 |
Less accumulated depreciation and amortization | (47,852) |  |  | (42,184) |
Other property, plant and equipment, net | 80,689 |  |  | 86,493 |
Total property, plant and equipment, net | $ | 378,890 |  |  | $ | 242,613 |
The average rates used for depreciation and depletion of oil and natural gas properties were $3.52 per Boe in 2024, $1.82 per Boe in 2023 and $1.18 per Boe in 2022. Costs Excluded from Amortization Costs excluded from amortization were related to unproved properties and were $23.5 million and $11.2 million, at December 31, 2024 and 2023, respectively. For leases that do not have existing production that would otherwise extend the lease term, the Company estimates that any associated unproved costs will be evaluated and transferred to the amortization base of the full cost pool within a three to five-year period from the original lease date. In addition, the Company’s internal engineers evaluate all properties on a quarterly basis.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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