PROPERTY AND EQUIPMENT (Tables)

3 Months Ended

Mar. 31, 2026

The major categories of property and equipment and related accumulated DD&A are as follows (in thousands):


	March 31, 2026		December 31, 2025
Proved oil and natural gas properties	$	4,054,885	$	3,902,539
Unproved properties	251,020		232,959
Other depreciable property and equipment	13,179		12,622
Land	386		386
Total property and equipment	4,319,470		4,148,506
Accumulated DD&A	(1,943,856)		(1,868,481)
Property and equipment, net	$	2,375,614	$	2,280,025

The following table summarizes the Company’s non-producing properties excluded from amortization by area (in thousands):

The following table provides a reconciliation of the Company’s asset retirement obligation (in thousands):


	Three Months Ended March 31, 2026		Three Months Ended March 31, 2025
Asset retirement obligation, beginning of period	$	32,912	$	32,949
Liabilities incurred	243		53
Liabilities settled and divested	(74)		(1,266)
Accretion expense	598		618
Total asset retirement obligation, end of period	$	33,679	$	32,354