Risk Factors Update Summary
- A sustained decline in commodity prices could require recognizing impairments of properties, potentially affecting reserves by 14 MMBoe and $9 billion.
- Risks related to federal lands operations and potential impacts on operations and financial performance.
- Changes in benchmark prices could impact proved reserve quantities by 6% and pre-tax PV 10% by $9 billion.
- Long-term contractual obligations increased from $74 million to $120 million.
- Geographical concentration shifted from Delaware Basin to West Texas and New Mexico.
- Total long-term debt increased from $31 billion to $38 billion.
- Finalization of EPA regulations and proposed rules may impact operations and compliance costs.
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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