Quantitative and Qualitative Disclosures About Market Risk
−Removed: primary source of market risk for us includes fluctuations in commodity prices.
−Removed: All of our financial instruments are for purposes other
−Removed: than trading.
+Added: primary sources of market risk for us include fluctuations in commodity prices and interest rates.
+Added: All of our financial instruments are
+Added: for purposes other than trading.
Credit risk is the risk of loss as a result of nonperformance by other parties of their contractual obligations.
credit risk is related to oil and gas production sold to various purchasers and the receivables are generally not collateralized.
−Removed: September 30, 2022, our largest credit risk associated with any single purchaser was $677,030 or 57% of our total oil and gas receivables.
+Added: December 31, 2022, our largest credit risk associated with any single purchaser was $1,255,427 or 61% of our total oil and gas receivables.
We have not experienced any significant credit losses.
3 unchanged sentences
and natural gas.
−Removed: Pricing for oil and natural gas production has been volatile and unpredictable for several years, and we expect this
+Added: Prices for oil and natural gas production has been volatile and unpredictable for several years, and we expect this
volatility to continue in the future.
2 unchanged sentences
The Henry Hub Spot Market Price (“Henry Hub”)
−Removed: posted price for natural gas has ranged from a low of $3.32 per MMBtu in December 2021 to a high of $9.85 per MMBtu in August 2022.
−Removed: September 30, 2022, the WTI posted price for crude oil was $75.47 and the Henry Hub posted price for natural gas was $6.40.
−Removed: of Operations above for the Company’s realized prices during the three and six months.
+Added: posted price for natural gas has ranged from a low of $3.46 per MMBtu in November 2022 to a high of $9.85 per MMBtu in August 2022.
+Added: December 31, 2022, the WTI posted price for crude oil was $76.24 and the Henry Hub posted price for natural gas was $3.52.
+Added: of Operations above for the Company’s realized prices during the three and nine months.
+Added: Subsequently, on January 24, 2023, the
+Added: WTI posted price for crude oil was $76.11 and the Henry Hub posted price for natural gas was $3.35.
any improvements in oil and gas prices can have a favorable impact on our financial condition, results of operations and capital resources.
−Removed: If the average oil price had increased or decreased by ten dollars per barrel for the first six months of fiscal 2023, our pretax income
−Removed: would have increased or decreased by $287,440.
−Removed: If the average gas price had increased or decreased by one dollar per mcf for the first
−Removed: six months of fiscal 2023, our pretax income would have increased or decreased by $248,313.
−Removed: about market risks for the six months ended September 30, 2022, does not differ materially from that discussed under Item 7A of the registrant’s
−Removed: 2022 Annual Report on Form 10-K.
+Added: If the average oil price had increased or decreased by ten dollars per barrel for the first nine months of fiscal 2023, pretax income
+Added: would have changed by $500,520.
+Added: If the average gas price had increased or decreased by one dollar per mcf for the first nine months of
+Added: fiscal 2023, pretax income would have changed by $394,293.
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.