Risk Factors Update Summary
- Experienced significant increases in costs due to inflation, labor shortages, and supply chain disruptions.
- Potential difficulties in integrating acquisitions could result in operational challenges and adverse effects on financial condition.
- Oil prices averaged $77.60 per Bbl in 2023, down from $94.33 per Bbl in 2022.
- Undeveloped total proved reserves decreased from 38% to 37%.
- The addition of "in the ordinary course of business" clarifies legal proceedings uncertainty.
- Natural gas prices averaged $2.66 per MMBtu in 2023, down from $6.54 per MMBtu in 2022.
- Quarterly dividend increased from $0.15 to $0.20 per share of common stock.
- Addition of "of our current or planned business operations or transactions" increases risk exposure.
- Directors and executive officers beneficially owned approximately 5% of outstanding common stock in 2023, down from 6% in 2024.
- Change from "from" to "to" in relation to regulatory investigations may impact outcomes.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
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