PROPERTY AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2026

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


	June 30, 2026		December 31, 2025
Proved oil and natural gas properties	$	4,217,986	$	3,902,539
Unproved properties	286,051		232,959
Other depreciable property and equipment	13,750		12,622
Land	386		386
Total property and equipment	4,518,173		4,148,506
Accumulated DD&A	(2,016,730)		(1,868,481)
Property and equipment, net	$	2,501,443	$	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):


	Six Months Ended June 30, 2026		Six Months Ended June 30, 2025
Asset retirement obligation, beginning of period	$	32,912	$	32,949
Liabilities incurred	372		222
Liabilities settled and divested	(74)		(1,673)
Accretion expense	1,216		1,205
Total asset retirement obligation, end of period	$	34,426	$	32,703