v3.25.2
PROPERTY AND EQUIPMENT (Tables)
 6 Months Ended
Jun. 30, 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):
June 30, 2025December 31, 2024
Proved oil and natural gas properties$3,669,584 $3,349,805 
Unproved properties211,626 221,650 
Other depreciable property and equipment11,892 10,905 
Land386 386 
Total property and equipment3,893,488 3,582,746 
Accumulated DD&A(1,703,691)(1,564,475)
Property and equipment, net$2,189,797 $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):
June 30, 2025December 31, 2024
Utica & Marcellus$188,190 $197,513 
SCOOP23,436 24,137 
Total unproved properties$211,626 $221,650 
Schedule of Asset Retirement Obligation
The following table provides a reconciliation of the Company’s asset retirement obligation for the six months ended June 30, 2025 and 2024 (in thousands):
Six Months Ended June 30, 2025Six Months Ended June 30, 2024
Asset retirement obligation, beginning of period$32,949 $29,941 
Liabilities incurred222 375 
Liabilities settled(1,673)— 
Accretion expense1,205 1,122 
Total asset retirement obligation, end of period$32,703 $31,438