Quantitative and Qualitative Disclosures About Market Risk
−Removed: primary source of market risk for us includes fluctuations in commodity prices and interest rates.
−Removed: All of our financial instruments are
−Removed: for purposes other than trading.
+Added: primary source of market risk for us includes fluctuations in commodity prices.
+Added: All of our financial instruments are for purposes other
+Added: 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: June 30, 2024, our largest credit risk associated with any single purchaser was $551,457 or 58% of our total oil and gas receivables.
+Added: September 30, 2024, our largest credit risk associated with any single purchaser was $529,614 or 58% of our total oil and gas receivables.
We have not experienced any significant credit losses.
3 unchanged sentences
and natural gas.
−Removed: Prices for oil and natural gas production has been volatile and unpredictable for several years, and we expect this
+Added: Pricing for oil and natural gas production has been volatile and unpredictable for several years, and we expect this
volatility to continue in the future.
−Removed: prices for natural gas have been adversely effected by temporary pipeline capacity constraints primarily in the Permian Basin.
+Added: capacity constraints and maintenance in the Permian Basin area has contributed to a wider difference between the WaHa Hub and the Henry
+Added: Hub and at times prices were negative.
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 $64.59 per bbl in December 2023 to a high of $89.66 per bbl in September 2023.
+Added: a low of $61.73 per bbl in September 2024 to a high of $86.77 per bbl in October 2023.
The Henry Hub Spot Market Price (“Henry
−Removed: 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
−Removed: 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.
−Removed: of Operations above for the Company’s realized prices during the quarter.
+Added: Hub”) 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 2023.
+Added: 30, 2024, the WTI posted price for crude oil was $64.15 and the Henry Hub spot price for natural gas was $2.65 per MMBtu.
+Added: of Operations above for the Company’s realized prices during the three and six months.
in oil and natural gas prices will materially adversely affect our financial condition, liquidity, ability to obtain financing and operating
13 unchanged sentences
If the average oil price had increased
−Removed: or decreased by ten dollars per barrel for the quarter ended June 30, 2024, our oil sales would have changed by $189,090.
−Removed: If the average
−Removed: 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
−Removed: or decreased by $136,307.
+Added: or decreased by ten dollars per barrel for the first six months of fiscal 2025, our operating revenues would have increased or decreased
+Added: If the average gas price had increased or decreased by one dollar per mcf for the first six months of fiscal 2025, our operating
+Added: revenues would have increased or decreased by $270,291.
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.