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LEASES

9 Months Ended

Sep. 30, 2023

LEASES

LEASES

6. LEASES

The Company leases certain vehicles, seismic recording equipment, real property and office equipment under lease agreements. The Company evaluates each lease to determine its appropriate classification as an operating lease or finance lease for financial reporting purposes. The majority of our operating leases are non-cancelable operating leases for office and shop space in Midland, Plano, Houston and Calgary, Alberta. There have been no material changes to our leases since the Company’s most recent Annual Report on Form 10-K that was filed with the SEC on March 13, 2023.

Maturities of lease liabilities as of September 30, 2023 are as follows (in thousands):

​	​	​	​	​	​	​
​	​	Operating Leases		​	Finance Leases
October 2023 - September 2024	​	$	1,362	​	$	475
October 2024 - September 2025	​	​	1,129	​	​	476
October 2025 - September 2026	​	​	1,084	​	​	566
October 2026 - September 2027	​	​	591	​	​	193
October 2027 - September 2028	​	​	40	​	​	—
Thereafter	​	​	—	​	​	—
Total payments under lease agreements	​	​	4,206	​	​	1,710
​	​	​	​	​	​	​
Less imputed interest	​	​	(362)	​	​	(183)
​	​	​	​	​	​	​
Total lease liabilities	​	$	3,844	​	$	1,527

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The entire disclosure of information about leases.

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