Risk Factors Update Summary
- Change from "could" to "would" in the inability to obtain capital on satisfactory terms.
- Added risks related to macroeconomic factors impacting business operations.
- Constraints in debt and equity capital markets may lead to unfeasible capital raises.
- Decrease in total net acres from 365,000 to 364,000, with 26,011 net undeveloped acres.
- Extension of Tax Benefits Preservation Plan expiration from July 1, 2023, to July 1, 2026.
- Historical financing of capital expenditures shifted from primarily cash to credit facility borrowings.
- Adoption of Tax Benefits Preservation Plan to discourage corporate takeovers.
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=1349436&owner=exclude
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