Note 11. Property Acquisitions

During the six months ended June 30, 2026, the Company executed several acquisitions of oil and gas properties in various areas totaling $698 million. The Company accounted for each acquisition as an asset acquisition under ASC Topic 805—Business Combinations. Of the purchase prices, a total of $92 million was allocated to proved properties and a total of $606 million was allocated to unproved properties, the amounts of which are subject to change as additional information is obtained. The acquired properties, a portion of which include the Company's international acquisitions of oil and gas assets in Argentina, primarily represented undeveloped acreage with no currently significant production or revenues.