Quantitative and Qualitative Disclosures About Market Risk
−Removed: primary sources of market risk for us include fluctuations in commodity prices and interest rates.
+Added: primary source of market risk for us includes fluctuations in commodity prices and interest rates.
All of our financial instruments are
2 unchanged sentences
credit risk is related to oil and gas production sold to various purchasers and the receivables are generally not collateralized.
−Removed: December 31, 2023, our largest credit risk associated with any single purchaser was $565,161 or 62% of our total oil and gas receivables.
+Added: June 30, 2024, our largest credit risk associated with any single purchaser was $551,457 or 58% of our total oil and gas receivables.
We have not experienced any significant credit losses.
5 unchanged sentences
volatility to continue in the future.
+Added: prices for natural gas have been adversely effected by temporary pipeline capacity constraints primarily in the Permian Basin.
that can cause price fluctuations include the level of global demand for petroleum products, foreign and domestic supply of oil and gas,
2 unchanged sentences
example, in the last twelve months, the NYMEX West Texas Intermediate (“WTI”) posted price for crude oil has ranged from
−Removed: a low of $62.72 per bbl in March 2023 to a high of $89.66 per bbl in September 2023.
−Removed: 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 $3.78 per MMBtu in January 2023.
−Removed: 31, 2023, the WTI posted price for crude oil was $67.63 and the Henry Hub posted price for natural gas was $2.58.
−Removed: See Results of Operations
−Removed: above for the Company’s realized prices during the three and nine months.
−Removed: Subsequently, on January 30, 2024, the WTI posted price
−Removed: for crude oil was $73.80 and the Henry Hub posted price for natural gas was $2.26.
+Added: a low of $64.59 per bbl in December 2023 to a high of $89.66 per bbl in September 2023.
+Added: The Henry Hub Spot Market Price (“Henry
+Added: Hub”) posted price for natural gas has ranged from a low of $1.25 per MMBtu in March 2024 to a high of $3.34 per MMBtu in October
+Added: On June 30, 2024, the WTI posted price for crude oil was $77.52 and the Henry Hub posted price for natural gas was $2.42.
+Added: of Operations above for the Company’s realized prices during the quarter.
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 nine months of fiscal 2024, our operating
−Removed: revenues would have increased or decreased $508,260.
−Removed: If the average gas price had increased or decreased by one dollar per mcf for the
−Removed: first nine months of fiscal 2024, our operating revenues would have increased or decreased $372,459.
+Added: Oil and natural gas prices do not necessarily fluctuate in direct relationship to each other.
+Added: If the average oil price had increased
+Added: or decreased by ten dollars per barrel for the quarter ended June 30, 2024, our oil sales would have changed by $189,090.
+Added: If the average
+Added: gas price had increased or decreased by one dollar per mcf for the quarter ended June 30, 2024, our natural gas sales would have increased
+Added: or decreased by $136,307.
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.