Risk Factors Update Summary
- The average WTI price decreased from $94 in 2022 to $77 in 2023, a $17 drop.
- The rig count decreased by 24% from 2021 to 2022, a significant decline.
- Oil export prices were reduced and production levels increased by OPEC and Russia.
- The company's largest customers collectively accounted for a significant portion of revenue.
- Capital expenditures increased from $7.13 million in 2022 to $12.6 million in 2023.
- The company's revenue from operations in western regions decreased from 0.6% to 0.3%.
- Ownership by SCF decreased from 27% to 26%, and a director's ownership decreased from 10% to 8%.
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.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1532286&owner=exclude
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