PROPERTY AND EQUIPMENT (Tables)

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

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

	September 30, 2024		December 31, 2023
Proved oil and natural gas properties	$	3,276,165	$	2,904,519
Unproved properties	224,370		204,233
Other depreciable property and equipment	10,928		8,779
Land	386		386
Total property and equipment	3,511,849		3,117,917
Accumulated DD&A and impairment	(1,137,464)		(865,618)
Property and equipment, net	$	2,374,385	$	2,252,299

Schedule of Non-Producing Properties Excluded from Amortization by Area

The following table summarizes the Company’s non-producing properties excluded from amortization by area (in thousands):

	September 30, 2024		December 31, 2023
Utica & Marcellus	$	199,743	$	177,888
SCOOP	24,627		26,345
Total unproved properties	$	224,370	$	204,233

Schedule of Asset Retirement Obligation

The following table provides a reconciliation of the Company’s asset retirement obligation for the nine months ended September 30, 2024 and 2023 (in thousands):

	Nine Months Ended September 30, 2024		Nine Months Ended September 30, 2023
Asset retirement obligation, beginning of period	$	29,941	$	33,171
Liabilities incurred	681		505
Liabilities settled	—		(604)
Liabilities removed due to divestitures	—		(919)
Accretion expense	1,705		2,117
Total asset retirement obligation, end of period	$	32,327	$	34,270