5 unchanged sentences
The types of derivative instruments that we typically utilize include fixed-price swaps, costless collars, basis swaps and WTI NYMEX rolls.
−Removed: The total volumes that
−Removed: we hedge through the use of our derivative instruments varies from period to period;
+Added: The total volumes that we hedge through the use of our derivative instruments varies from period to period;
however, our requirement under our Term Loan Agreement, as amended, is to hedge approximately 50% to 85% of our anticipated oil and natural gas production, in varying percentages by year, on a rolling basis for the next four years.
3 unchanged sentences
It is our policy to enter into derivative contracts only with counterparties that are creditworthy institutions deemed by management as competitive market makers.
−Removed: At June 30, 2025, we did not post collateral under any of our derivative contracts as they are secured under our Term Loan Agreement, as amended.
+Added: At September 30, 2025, we did not post collateral under any of our derivative contracts as they are secured under our Term Loan Agreement, as amended.
We account for our derivative activities on the balance sheet as either an asset or liability measured at fair value.
7 unchanged sentences
Our interest rate risk exposure results primarily from fluctuations in short-term rates, which are SOFR (and previously, the London Interbank Offered Rate or “LIBOR”) based and may result in reductions of earnings or cash flows due to increases in the interest rates we pay on these obligations.
−Removed: At June 30, 2025, the principal amount of our term loan debt was $219.4 million, which bears interest at floating and variable interest rates that are tied to SOFR.
+Added: At September 30, 2025, the principal amount of our term loan debt was $213.8 million, which bears interest at floating and variable interest rates that are tied to SOFR.
Fluctuations in market interest rates will cause our annual interest costs to fluctuate.
−Removed: At June 30, 2025, the weighted average interest rate on our variable rate debt was 12.20% per year.
−Removed: If the balance of our variable interest rate debt at June 30, 2025 were to remain constant, a 10% change in market interest rates would impact our cash flows by approximately $2.7 million per yea r .
+Added: At September 30, 2025, the weighted average interest rate on our variable rate debt was 12.20% per year.
+Added: If the balance of our variable interest rate debt at September 30, 2025 were to remain constant, a 10% change in market interest rates would impact our cash flows by approximately $2.6 million per yea r .
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.