Concentrations of Credit Risk

12 Months Ended

Dec. 31, 2022

Risks and Uncertainties [Abstract]

Concentrations of Credit Risk

18. Concentrations of Credit Risk

Financial instruments which potentially subject us to concentrations of credit risk consist primarily of demand deposits, temporary cash investments and trade receivables.

We believe we have placed our demand deposits and temporary cash investments with high credit-quality financial institutions. At December 31, 2022 and 2021, our demand deposits and temporary cash investments consisted of the following (in thousands):

	2022			2021
Deposits in FDIC and SIPC-insured institutions under insurance limits	$	601		$	2,043
Deposits in FDIC and SIPC-insured institutions over insurance limits		149,769			125,405
Deposits in foreign banks		6,406			9,342
		156,776			136,790
Less outstanding checks and other reconciling items		(19,223	)		(19,266	)
Cash and cash equivalents	$	137,553		$	117,524

Concentrations of credit risk with respect to trade receivables are primarily focused on companies involved in the exploration and development of oil and natural gas properties. The concentration is somewhat mitigated by the diversification of customers for which we provide services. As is general industry practice, we typically do not require customers to provide collateral.