COMMITMENTS AND CONTINGENCIES |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES The Company is subject to loss contingencies related to litigation, claims, investigations and legal and administrative cases and proceedings arising in the ordinary course of business. The Company evaluates these contingencies on a regular basis and accrues a liability for such matters when the Company believes that a loss is probable, and the amount of the loss can be reasonably estimated. Due to the inherent subjectivity of the assessments and unpredictability of outcomes of legal proceedings, any amounts accrued or estimated as possible losses may not represent the ultimate loss to the Company from the legal proceedings in question and the Company’s exposure and ultimate losses may be higher, and possibly significantly so, than the amounts accrued or estimated. At September 30, 2026, the Longanesi contingent consideration liability was $16.6 million. During the nine months ended September 30, 2026, the Company paid $10.8 million in contingent consideration to Enel S.p.a. ("Enel") in accordance with the terms of that certain purchase agreement, dated July 13, 2016, by and between Enel and the Company (the “Longanesi Purchase Agreement”), pursuant to which the Company acquired its working interest in the Longanesi field. The contingent consideration is payable based on a formulaic calculation which is predominantly dependent on sales volumes and spot natural gas prices during the first 12 years of the earn-out period. There were no other material changes to the Company’s commitments and contingencies during the three and nine months ended September 30, 2026.
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