Asset Retirement Obligations

12 Months Ended

Dec. 31, 2025

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

Note 8 - Asset Retirement Obligations

The Company has recognized an estimated liability for its asset retirement obligations related to the future costs of plugging, abandonment, and remediation of natural gas producing properties. The present value of the estimated asset retirement obligations has been capitalized as part of the carrying amount of the related natural gas properties. As of December 31, 2025 and 2024, the liability has been accreted to its present value and, for the years ended December 31, 2025, 2024, and 2023, accretion expense of $15.1 million, $14.1 million, and $13.2 million, respectively, was recognized and included in depreciation, amortization, depletion, and accretion in the consolidated statements of operations.

The following table summarizes the activities of the Company’s asset retirement obligations:

	Year Ended December 31,
(in thousands)	2025		2024		2023
Balance, as of January 1,	$	201,158	$	195,476	$	182,300
Additions through acquisitions (1)		18,761		—		640
Liabilities incurred		226		42		89
Liabilities settled		(1,873)		(1,288)		(759)
Liabilities associated with property sold (2)		—		(7,133)		—
Accretion of discount		15,067		14,061		13,206
Balance, as of December 31,		233,339		201,158		195,476
Less current portion		(2,967)		(2,363)		(2,271)
Asset retirement obligations, long-term	$	230,372	$	198,795	$	193,205

(1) Relates to the Bedrock Acquisition. See Note 3 - Acquisition and Dispositions for further discussion.

(2) Liabilities associated with property sold relate to the sales of Chaffee and certain non-operated upstream assets in Chelsea. See Note 3 - Acquisition and Dispositions for further discussion.