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, 2023, our largest credit risk associated with any single purchaser was $443,055 or 55% of our total oil and gas receivables.
+Added: December 31, 2023, our largest credit risk associated with any single purchaser was $565,161 or 62% 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.
5 unchanged sentences
The Henry Hub Spot Market Price (“Henry Hub”)
−Removed: posted price for natural gas has ranged from a low of $1.74 per MMBtu in June 2023 to a high of $7.20 per MMBtu in December 2022.
−Removed: September 30, 2023, the WTI posted price for crude oil was $86.77 and the Henry Hub posted price for natural gas was $2.68.
−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 $1.74 per MMBtu in June 2023 to a high of $3.78 per MMBtu in January 2023.
+Added: 31, 2023, the WTI posted price for crude oil was $67.63 and the Henry Hub posted price for natural gas was $2.58.
+Added: See Results of Operations
+Added: above for the Company’s realized prices during the three and nine months.
+Added: Subsequently, on January 30, 2024, the WTI posted price
+Added: for crude oil was $73.80 and the Henry Hub posted price for natural gas was $2.26.
in oil and natural gas prices will materially adversely affect our financial condition, liquidity, ability to obtain financing and operating
11 unchanged sentences
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 2024, our operating
−Removed: revenues would have increased or decreased by $331,890.
−Removed: If the average gas price had increased or decreased by one dollar per mcf for
−Removed: the first six months of fiscal 2024, our operating revenues would have increased or decreased by $249,665.
−Removed: about market risks for the six months ended September 30, 2023, does not differ materially from that discussed under Item 7A of the registrant’s
−Removed: 2023 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 2024, our operating
+Added: revenues would have increased or decreased $508,260.
+Added: If the average gas price had increased or decreased by one dollar per mcf for the
+Added: first nine months of fiscal 2024, our operating revenues would have increased or decreased $372,459.
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.