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Supplemental Oil and Gas Information (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2022
Supplemental Oil and Gas Information (Unaudited)  
Schedule of Capitalized Costs Relating to Oil and Natural Gas Producing Activities

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​

​

​

​

​

​

​

​

    

December 31, 

​

​

2022

​

2021

​

​

(In thousands)

Evaluated oil and natural gas properties

​

$

840,310

​

$

799,532

Support equipment and facilities

​

 

147,496

​

 

145,324

Accumulated depletion, depreciation, and amortization

​

 

(648,900)

​

 

(625,754)

Total

​

$

338,906

​

$

319,102

​

Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development Activities

​

​

​

​

​

​

​

​

​

    

For the Year Ended

​

​

December 31, 

​

​

2022

​

2021

​

​

(In thousands)

Property acquisition costs, proved

​

$

—

​

$

3

Property acquisition costs, unproved

​

 

—

​

 

—

Exploration

​

 

—

​

 

—

Development

​

 

42,949

​

 

27,478

Total

​

$

42,949

​

$

27,481

​

Schedule of Product Prices Used for Valuing the Reserves

The weighted-average benchmark product prices used for valuing the reserves are based upon the average of the first-day-of-the-month price for each month within the period January through December of each year presented:

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​

​

​

​

​

​

​

    

2022

    

2021

Oil ($/Bbl):

 

​

  

 

​

  

WTI (1)

​

$

93.67

​

$

66.56

​

​

​

​

​

​

​

NGL ($/Bbl):

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​

 

  

WTI (1)

​

$

93.67

​

$

66.56

​

​

​

​

​

​

​

Natural Gas ($/MMbtu):

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​

 

  

Henry Hub (2)

​

$

6.36

​

$

3.60

(1)The weighted average WTI price was adjusted by lease for quality, transportation fees, and a regional price differential.
(2)The weighted average Henry Hub price was adjusted by lease for energy content, compression charges, transportation fees, and regional price differentials.
Schedule of Net Reserves

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​

​

​

​

    

For the Year Ended December 31, 2022

​

​

Oil

​

Gas

​

NGLs

​

Total

​

​

(MBbls)

​

(MMcf)

​

(MBbls)

​

(MBoe)

Proved developed and undeveloped reserves:

 

  

 

  

 

  

 

  

Beginning of year

 

45,001

 

314,350

 

23,837

 

121,230

Production

 

(2,327)

 

(22,993)

 

(1,389)

 

(7,548)

Revision of previous estimates

 

5,194

 

21,435

 

1,578

 

10,345

End of year

 

47,868

 

312,792

 

24,026

 

124,027

​

​

​

​

​

​

​

​

​

Proved developed reserves(1):

 

  

 

  

 

  

 

  

Beginning of year

 

43,857

 

309,794

 

23,574

 

119,063

End of year

 

47,010

 

312,185

 

23,928

 

122,969

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​

​

​

​

​

​

​

​

Proved undeveloped reserves:

 

  

 

  

 

  

 

  

Beginning of year

 

1,144

 

4,556

 

263

 

2,167

End of year

 

858

 

607

 

98

 

1,058

(1)Our reserves related to our Beta properties are classified as proved developed non-producing at December 31, 2022.

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​

​

​

​

​

​

​

​

​

​

    

For the Year Ended December 31, 2021

​

​

Oil

​

Gas

​

NGLs

​

Total

​

​

(MBbls)

​

(MMcf)

​

(MBbls)

​

(MBoe)

Proved developed and undeveloped reserves:

 

  

 

  

 

  

 

  

Beginning of year

 

46,676

 

274,139

 

21,484

 

113,849

Extensions and discoveries

 

746

 

4,283

 

215

 

1,674

Production

 

(3,351)

 

(23,808)

 

(1,430)

 

(8,747)

Sale of minerals in place

​

(3)

​

(274)

​

(12)

​

(61)

Revision of previous estimates

 

933

 

60,010

 

3,580

 

14,515

End of year

 

45,001

 

314,350

 

23,837

 

121,230

​

​

​

​

​

​

​

​

​

Proved developed reserves(1):

 

  

 

  

 

  

 

  

Beginning of period

 

35,613

 

252,218

 

19,009

 

96,658

End of period

 

43,857

 

309,794

 

23,574

 

119,063

​

​

​

​

​

​

​

​

​

Proved undeveloped reserves(2):

 

  

 

  

 

  

 

  

Beginning of period

 

11,063

 

21,921

 

2,475

 

17,191

End of period

 

1,144

 

4,556

 

263

 

2,167

(1)Our reserves related to our Beta properties were reclassified as proved developed non-producing at December 31, 2021.
(2)Change to the Company’s development plan has resulted in removal of PUD locations in Oklahoma, Rockies and California.

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Standardized Measure of Discounted Future Net Cash Flows

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​

    

For the Year Ended

​

​

December 31, 

​

    

2022

    

2021

​

​

(In thousands)

Future cash inflows

​

$

7,373,499

​

$

4,569,313

Future production costs (1)

​

 

(3,824,348)

​

 

(2,691,875)

Future development costs (1)

​

 

(309,188)

​

 

(231,040)

Future income tax expense

​

 

(520,731)

​

 

—

Future net cash flows for estimated timing of cash flows

​

 

2,719,232

​

 

1,646,398

10% annual discount for estimated timing of cash flows

​

 

(1,381,276)

​

 

(726,553)

Standardized measure of discounted future net cash flows

​

$

1,337,956

​

$

919,845

(1)For the years ended December 31, 2022 and 2021, onshore abandonment costs are included in future production cost and offshore abandonment costs are included in future development costs.
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves

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For the Year Ended

​

​

December 31, 

​

​

2022

    

2021

​

​

(In thousands)

Beginning of year

​

$

919,845

​

$

297,811

Changes in prices and costs

​

 

856,545

​

 

572,897

Net change in taxes

​

​

(311,412)

​

​

—

Sale of oil and natural gas produced, net of production costs

​

 

(213,667)

​

 

(171,326)

Accretion of discount

​

 

91,985

​

 

29,781

Change in production rates and other

​

 

(57,484)

​

 

(31,423)

Net changes in future development costs

​

 

(20,129)

​

 

113,546

Revisions of previous quantities

​

 

59,216

​

 

46,271

Previously estimated development costs incurred

​

 

13,057

​

 

45,298

Sale of minerals in place

​

 

—

​

 

(45)

Extensions and discoveries

​

 

—

​

 

17,035

End of year

​

$

1,337,956

​

$

919,845