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OIL AND NATURAL GAS PROPERTIES (Details) $ in Thousands | 12 Months Ended
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Dec. 31, 2023 USD ($) $ / MMBTU $ / bbl | Dec. 31, 2022 USD ($) $ / MMBTU $ / bbl
OIL AND NATURAL GAS PROPERTIES |  |
Subject to depletion | $ 755,482 | $ 713,585
Incurred in 2023 | 31 |
Incurred in 2022 | 1,427 | 1,427
Incurred in 2021 and prior(1) | 57,451 | 61,194
Total not subject to depletion | 58,909 | 62,621
Gross oil and natural gas properties | 814,391 | 776,206
Less - accumulated depletion | (445,975) | (390,796)
Net oil and natural gas properties | $ 368,416 | 385,410
Maximum discount percentage of estimated future net revenues for full cost ceiling limitation | 10.00% |
Depletion expense | $ 55,200 | $ 51,000
Ceiling Limitation Disclosures |  |
First day average of the (WTI) crude oil spot price (in dollars per barrel) | $ / bbl | 78.21 | 94.14
First day average of the Henry Hub natural gas price (in dollars per Mmbtu) | $ / MMBTU | 2.64 | 6.36

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- Definition The other capitalized costs incurred (excluded from amortization), in 2021 and prior, in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of containing oil and gas reserves, including costs of drilling. + References No definition available. + Details
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- Definition The other capitalized costs incurred (excluded from amortization), in 2022, in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of containing oil and gas reserves, including costs of drilling. + References No definition available. + Details
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- Definition The sum of the capitalized costs incurred, as of the balance sheet date, of unproved properties excluded from amortization including acquisition costs, exploration costs, development costs, and production costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-10.(c)(7)(ii)) -SubTopic 10 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479664/932-10-S99-1 + Details
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- Definition Capitalized costs of proved properties incurred for any combination mineral interests acquisitions; wells and related equipment; support equipment and facilities; and uncompleted wells and equipment and other costs not previously disclosed within this table. + 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-13 + Details
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