Risk Factors Update Summary
- Capital plan increased from $450-475 million in 2023 to $470-510 million.
- Federal NOLs increased from approximately $616 million to $679.5 million in 2023.
- Capital expenditures rose from approximately $327 million in 2022 to $408 million in 2023.
- Carrying values on oil and gas properties were written down, with a potential for additional write-downs.
- Net undeveloped acreage in Texas decreased from 566 to 262 net acres.
- Borrowing base increased from $775 million to $1.2 billion in 2023.
- Drilling plans reduced the risk of expirations with a decrease from 76% to 11%.
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=351817&owner=exclude
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