Subsequent Events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

•On July 29, 2024, the Company entered into a purchase and sale agreement to acquire certain producing assets and leasehold interests in the Western Anadarko Basin for cash consideration of $144 million, before customary purchase price adjustments, with an effective date of July 1, 2024. The Company also entered into a joint development agreement governing its participation in the future development of certain leasehold interests acquired in the acquisition. The transaction is expected to be funded with cash on hand and is targeted to close by the end of the third quarter of 2024.

•Subsequent to June 30, 2024, the Company entered into the following oil and NGL derivative contracts:

Period	Type of Derivative Instrument	Index(1)	Daily Volume (Bbl)	Weighted Average Price Per Barrel
September 2024 - December 2024	Swaps	Mont Belvieu OPIS	400	$	42.76
September 2024 - December 2024	Swaps	NYMEX WTI	900	$	74.85
January 2025 - December 2025	Swaps	Mont Belvieu OPIS	300	$	39.69
January 2025 - December 2025	Swaps	NYMEX WTI	500	$	71.60
January 2026 - June 2026	Swaps	NYMEX WTI	300	$	68.67
(1) NGL swaps exclude ethane

•On August 6, 2024, the Board declared a cash dividend of $0.11 per share of the Company’s common stock, payable on August 30, 2024 to shareholders of record on August 16, 2024.