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Subsequent Events
9 Months Ended
Sep. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On August 26, 2024, the Company entered into a Consent Agreement with the purchaser under a Purchase and Sale Agreement to acquire oil and gas properties in the Ardmore Basin of Oklahoma for consideration of approximately $98.0 million in cash, subject to customary purchase price adjustments (the “Ardmore Basin Acquisition”). As of September 30, 2024, the Company had paid a deposit of $9.8 million which is included in other assets on the Company’s balance sheet. The transaction closed on October 1, 2024. The purchase is expected to be accounted for as an asset acquisition, based on a preliminary review of the assets acquired.
The Company has evaluated subsequent events through the date of issuance of these financial statements to ensure that any subsequent events that met the criteria for recognition and disclosure in this Quarterly Report have been properly included.