Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item
3. Quantitative and Qualitative Disclosures About Market Risk
The
Company’s results of operations and operating cash flows can be significantly
impacted by changes in market prices for oil and gas. The Company has
not to date utilized derivative contracts, costless collars, or other similar
economic hedging arrangements as a means to reduce its exposure to unfavorable
changes in oil prices or that may expose the Company to risk of financial loss
and limit the benefit of future increases in prices.
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