Note 3. Oil and Natural Gas Investments

The Partnership incurred approximately $2.0 million in capital drilling and completion costs for the six-month period ending June 30, 2025. During the summer of 2024, Chord substantially completed the drilling of 15 new wells, in which the Partnership had an average approximate non-operated working interest of 18%. The Partnership incurred and paid its proportionate share of the related capital expenditures of approximately $27 million through the second quarter of 2025.

The Partnership has drilled and completed 101 new wells since the beginning of 2018; the Partnership’s estimated share of capital expenditures for the drilling and completion of these 101 wells has totaled approximately $147 million.