6 unchanged sentences
Our revenue generally would have increased or decreased along with any increases or decreases in oil or natural gas prices, but the exact impact on our income is indeterminable given the variety of expenses associated with producing and selling oil that also increase and decrease along with oil prices.
−Removed: Properties - Proved Reserves Sensitivity by Price Scenario” for estimates of how a decrease in oil and gas prices from the 2022 SEC Case to the $70 Flat Case would reduce our proved reserves volumes and the PV-10 value thereof.
+Added: Properties - Proved Reserves Sensitivity by Price Scenario” for estimates of how a change in oil and gas prices from the 2023 SEC Case to the $70 Flat Case would reduce our proved reserves volumes and the PV-10 value thereof.
We enter into derivative contracts to achieve a more predictable cash flow by reducing our exposure to commodity price volatility.
8 unchanged sentences
Settlement Period Volume (Bbls) Weighted Average Price
−Removed: ($/Bbl) Volume (Bbls) Weighted Average Ceiling Price
+Added: ($/Bbl) Volume Ceiling (Bbls) Volume Floor (Bbls) Weighted Average Ceiling Price
($/Bbl) Weighted Average Floor Price
13 unchanged sentences
(1) This table does not include volumes subject to swaptions and call options, which are crude oil derivative contracts we have entered into which may increase our swapped volumes at the option of our counterparties.
−Removed: See Note 12 to our financial
−Removed: statements for further details regarding our commodity derivatives, including the swaptions and call options that are not included in the foregoing table.
+Added: This table also does not include
+Added: See Note 12 to our financial statements for further details regarding our commodity derivatives, including the swaptions and call options that are not included in the foregoing table.
The following table summarizes our open natural gas derivative contracts as of December 31, 2023, by fiscal quarter.
2 unchanged sentences
(MMBTU) Weighted Average Price
−Removed: ($/MMBTU) Volume
+Added: ($/MMBTU) Volume Ceiling
+Added: (MMBTU) Volume Floor
(MMBTU) Weighted Average Ceiling Price
8 unchanged sentences
Q4 765,000 3.52 5,778,723 5,778,723 5.44 3.15
+Added: Q1 450,000 $ 3.20 4,048,249 4,048,249 $ 5.66 $ 3.13
+Added: Q2 455,000 3.20 4,184,706 4,184,706 5.66 3.13
+Added: Q3 460,000 3.20 4,184,706 4,184,706 5.66 3.13
+Added: Q4 460,000 3.20 2,774,642 2,774,642 5.66 3.13
_____________
−Removed: (1) This table does not include volumes subject to call options, which are natural gas derivative contracts we have entered into which may increase our swapped volumes at the option of our counterparties.
+Added: (1) This table does not include volumes subject to swaptions and call options, which are natural gas derivative contracts we have entered into which may increase our swapped volumes at the option of our counterparties.
This table also does not include basis swaps.
4 unchanged sentences
Our Revolving Credit Facility interest rate is a floating rate option that is designated by us within the parameters established by the underlying agreement (see Note 4 to our financial statements).
−Removed: The Company uses interest rate swaps to effectively convert a portion of its variable rate indebtedness to fixed rate indebtedness.
−Removed: As of December 31, 2022, we had interest rate swaps with a total notional amount of $100.0 million.
+Added: From time to time, the Company may use interest rate swaps to effectively convert a portion of its variable rate indebtedness to fixed rate indebtedness.
+Added: As of December 31, 2023, we had no interest rate swaps.
Changes in interest rates can impact results of operations and cash flows.
4 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.