Item 1A. Risk Factors
ITEM 1A. RISK FACTORS.
Our business faces many risks. Any of the risks discussed elsewhere in this quarterly report and our other SEC filings could have a material impact on our business, financial position or results of operations. Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial may also impair our business operations. Except with respect to the risk factor set forth below, there have been no material changes to the risk factors disclosed in Part I, Item 1A in our 2022 Form 10-K.
The impact from the prolonged shut-in of the Pipeline is uncertain and cannot be predicted, and it may materially and adversely affect our business, results of operations and financial condition.
The prolonged shut-in of the Pipeline and the Beta Field as a result of the Incident may result in reduced well performance or production issues upon restarting the wells. For example, when a well is shut-in and offline for an extended period of time, accumulated sediment and other debris in the well may reduce flow rates. The shut-in and restart of a well may also place significant stress on the wellbore and equipment, which can result in mechanical failures or other issues that may impact performance. The full impact to production, if any, from the prolonged shut-in remains uncertain, and may have a material adverse impact on our business, results of operations and financial condition.
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