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LEASES
6 Months Ended
Jun. 30, 2023
LEASES  
LEASES

6. LEASES

The Company leases certain vehicles, seismic recording equipment, real property and office equipment under lease agreements. The Company evaluates each lease to determine its appropriate classification as an operating lease or finance lease for financial reporting purposes. The majority of our operating leases are non-cancelable operating leases for office and shop space in Midland, Plano, Houston, Oklahoma City and Calgary, Alberta. There have been no material changes to our leases since the Company’s most recent Annual Report on Form 10-K that was filed with the SEC on March 13, 2023.

Maturities of lease liabilities as of June 30, 2023 are as follows (in thousands):

Operating Leases

Finance Leases

July 2023 - June 2024

$

1,400

$

305

July 2024 - June 2025

1,213

305

July 2025 - June 2026

1,082

376

July 2026 - June 2027

849

141

July 2027 - June 2028

58

Thereafter

Total payments under lease agreements

4,602

1,127

Less imputed interest

(418)

(113)

Total lease liabilities

$

4,184

$

1,014