12 unchanged sentences
See Note 5 – Commodity Derivative Financial Instruments and Note 6 – Fair Value Measurements to the consolidated financial statements included elsewhere in this Annual Report for additional information.
−Removed: Commodity prices have declined in recent years.
+Added: Commodity prices have been historically volatile based upon the dynamics of supply and demand.
To estimate the effect lower prices would have on our reserves, we applied a 10% discount to the SEC commodity pricing for the twelve months ended December 31, 2022.
4 unchanged sentences
This evaluation includes reviewing a counterparty’s credit rating and latest financial information.
−Removed: As of December 31, 2021, we had six counterparties, all of which are rated Baa1 or better by Moody’s and are lenders under our Credit Facility.
+Added: As of December 31, 2022, we had seven counterparties, all of which are rated Baa1 or better by Moody’s and are lenders under our Credit Facility.
Our principal exposure to credit risk results from receivables generated by the production activities of our operators.
10 unchanged sentences
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.