Note 11. Property Acquisitions

During the three months ended March 31, 2026, the Company executed several acquisitions of oil and gas properties in various areas for cash consideration totaling $378.3 million. The Company accounted for each acquisition as an asset acquisition under ASC Topic 805—Business Combinations. Of the purchase prices, a total of $1.7 million was allocated to proved properties and a total of $376.6 million was allocated to unproved properties. The acquired properties, a portion of which include the Company's first international acquisition of oil and gas assets in Argentina, represented undeveloped acreage with no production or revenues.