7 unchanged sentences
We have used, and may use, a variety of commodity-based derivative contracts, including fixed price swaps, basis swaps and collars.
−Removed: As of June 30, 2025, the Company's open derivative contracts consisted of oil, natural gas, and NGL commodity derivative contracts as follows:
+Added: As of September 30, 2025, the Company's open derivative contracts consisted of oil, natural gas, and NGL commodity derivative contracts as follows:
Period Index Daily Volume Weighted Average Price
Fixed Price Swaps
−Removed: July 2025 - December 2025 NYMEX WTI 500 $71.60
+Added: October 2025 - December 2025 NYMEX WTI 500 $71.60
January 2026 - June 2026 NYMEX WTI 300 $68.67
Producer Costless Collars
−Removed: July 2025 - December 2025 NYMEX WTI 675 $61.57 Put / $78.02 Call
+Added: October 2025 - December 2025 NYMEX WTI 675 $61.57 Put / $78.02 Call
Natural Gas (MMBtu)
Fixed Price Swaps
−Removed: July 2025 - December 2025 NYMEX Henry Hub 8,500 $4.17
+Added: October 2025 - December 2025 NYMEX Henry Hub 8,500 $4.17
January 2026 - December 2026 NYMEX Henry Hub 4,500 $4.09
Producer Costless Collars
−Removed: July 2025 - December 2025 NYMEX Henry Hub 20,500 $3.79 Put / $7.08 Call
+Added: October 2025 - December 2025 NYMEX Henry Hub 20,500 $3.79 Put / $7.08 Call
January 2026 - December 2026 NYMEX Henry Hub 4,500 $3.35 Put / $5.35 Call
Fixed Price Swaps
−Removed: July 2025 - December 2025 Mont Belvieu OPIS - C3+ (1)
−Removed: July 2025 - December 2025 Mont Belvieu OPIS - Ethane (2)
+Added: October 2025 - December 2025 Mont Belvieu OPIS - C3+ (1)
+Added: October 2025 - December 2025 Mont Belvieu OPIS - Ethane (2)
____________________
4 unchanged sentences
Changes in fair value were principally measured based on a comparison of future prices to the contract price at the end of the period and through the Black-Scholes or other similar valuation method in the case of options.
−Removed: Tabl e of Contents
−Removed: The following table summarizes derivative activity for the three and six months ended June 30, 2025 and 2024 (in thousands):
−Removed: Three Months Ended June 30, Six Months Ended June 30,
+Added: The following table summarizes derivative activity (in thousands):
+Added: Three Months Ended September 30, Nine Months Ended September 30,
2025 2024 2025 2024
14 unchanged sentences
Historically, our credit losses on joint interest receivables have been immaterial.
−Removed: Tabl e of Contents
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.