| Schedule of Property and Equipment |
As of December 31, 2022 and 2021, total property and equipment, net consisted of the following:
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As of December 31, |
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2022 |
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2021 |
| Oil and natural gas properties, full cost accounting method |
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(In thousands) |
| Evaluated properties |
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$10,367,478 |
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$9,238,823 |
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| Accumulated depreciation, depletion, amortization and impairments |
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(6,343,875) |
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(5,886,002) |
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| Evaluated properties, net |
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4,023,603 |
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3,352,821 |
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| Unevaluated properties |
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| Unevaluated leasehold and seismic costs |
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1,392,327 |
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1,557,453 |
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| Capitalized interest |
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318,979 |
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255,374 |
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| Total unevaluated properties |
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1,711,306 |
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1,812,827 |
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| Total oil and natural gas properties, net |
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$5,734,909
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$5,165,648
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| Other property and equipment |
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$40,530 |
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$58,367 |
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| Accumulated depreciation |
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(14,378) |
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(30,239) |
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| Other property and equipment, net |
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$26,152
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$28,128
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| Summary of Average Realized Price of Crude Oil |
Details of the 12-Month Average Realized Price of oil for the years ended December 31, 2022, 2021, and 2020 are summarized in the table below:
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Years Ended December 31, |
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2022 |
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2021 |
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2020 |
| Impairment of evaluated oil and natural gas properties (In thousands) |
$— |
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$— |
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$2,547,241 |
| Beginning of period 12-Month Average Realized Price ($/Bbl) |
$65.44 |
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$37.44 |
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$53.90 |
| End of period 12-Month Average Realized Price ($/Bbl) |
$95.02 |
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$65.44 |
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$37.44 |
| Percent increase (decrease) in 12-Month Average Realized Price |
45 |
% |
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75 |
% |
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(31 |
%) |
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Years Ended December 31, |
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2022 |
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2021 |
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2020 |
| Oil ($/Bbl) |
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$95.02 |
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$65.44 |
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$37.44 |
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| Natural gas ($/Mcf) |
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$5.75 |
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$3.31 |
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$1.02 |
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| NGLs ($/Bbl) |
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$36.40 |
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$29.19 |
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$11.10 |
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| Schedule of Capitalized Costs of Unproved Properties Excluded from Amortization |
Unevaluated property costs not subject to amortization as of December 31, 2022 were incurred in the following periods:
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2022 |
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2021 |
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2020 |
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2019 and Prior |
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Total |
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(In thousands) |
| Unevaluated property costs |
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$141,944 |
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$401,403 |
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$113,078 |
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$1,054,881 |
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$1,711,306 |
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