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CRUDE OIL, NATURAL GAS AND NGLs PROPERTIES AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
CRUDE OIL, NATURAL GAS AND NGLs PROPERTIES AND EQUIPMENT, NET CRUDE OIL, NATURAL GAS AND NGLs PROPERTIES AND EQUIPMENT, NET
The Company’s crude oil, natural gas and NGLs properties and equipment, net, at December 31, 2024 and 2023, respectively, is comprised of the following:
20242023
(in thousands)
Crude oil, natural gas and NGLs properties and equipment, net
Wells, platforms and other production facilities$1,593,243 $1,468,542 
Work-in-progress44,517 4,183 
Unproved properties60,761 52,109 
Capitalized equipment, spare parts and other75,581 47,794 
1,774,102 1,572,628 
Accumulated depreciation, depletion, amortization and impairment(1,235,999)(1,112,842)
Crude oil, natural gas and NGLs properties and equipment, net$538,103 $459,786 
Unproved property costs
See the table below for the list of unproved property costs at December 31, 2024 and 2023, respectively:
20242023
(in thousands)
Unproved Property Costs
Etame Marin Block$13,735 $13,735 
Equatorial Guinea10,000 10,000 
Egypt11,542 11,444 
Cote d'Ivoire12,775 — 
Canada12,709 16,930 
Unproved Property Costs$60,761 $52,109 
Exploration expense
During 2024, we had minimal exploration expenses. During 2023, two appraisal wells, both in Egypt, were abandoned and also expensed to Exploration Expense. The impact resulted in $2.0 million of expense during the year ended December 31, 2023.