2024 Q1 Form 10-K Financial Statement

#000089512624000013 Filed on February 21, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $1.081B $1.809B $8.721B
YoY Change -67.92% -56.13% -25.73%
Cost Of Revenue $261.0M $284.0M $1.376B
YoY Change -43.75% -35.16% -22.52%
Gross Profit $812.0M $1.525B $6.399B
YoY Change -68.42% -58.63% -33.81%
Gross Profit Margin 75.12% 84.3% 73.37%
Selling, General & Admin $370.0M $546.0M $2.626B
YoY Change -46.06% -44.06% -39.73%
% of Gross Profit 45.57% 35.8% 41.04%
Research & Development $2.000M $8.000M $27.00M
YoY Change -71.43% -11.11%
% of Gross Profit 0.25% 0.52% 0.42%
Depreciation & Amortization $399.0M $379.0M $1.527B
YoY Change 2.31% -16.34% -12.89%
% of Gross Profit 49.14% 24.85% 23.86%
Operating Expenses $788.0M $936.0M $4.198B
YoY Change -27.44% -35.67% -31.84%
Operating Profit $32.00M $589.0M $3.142B
YoY Change -98.24% -73.6% -16.88%
Interest Expense $19.00M -$22.00M $104.0M
YoY Change -48.65% -18.52% -35.0%
% of Operating Profit 59.38% -3.74% 3.31%
Other Income/Expense, Net $1.000M $31.00M -$25.00M
YoY Change -103.7% -616.67% -80.62%
Pretax Income $33.00M $735.0M $3.117B
YoY Change -98.16% -66.44% -14.63%
Income Tax $7.000M $166.0M $698.0M
% Of Pretax Income 21.21% 22.59% 22.39%
Net Earnings $26.00M $569.0M $2.419B
YoY Change -98.13% -83.8% -50.99%
Net Earnings / Revenue 2.41% 31.45% 27.74%
Basic Earnings Per Share $0.20 $18.21
Diluted Earnings Per Share $0.18 $4.02 $16.92
COMMON SHARES
Basic Shares Outstanding 130.8M shares 131.1M shares 132.8M shares
Diluted Shares Outstanding 141.8M shares 143.0M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.179B $1.079B $1.079B
YoY Change 806.92% 730.0% 730.0%
Cash & Equivalents $1.179B $1.079B $1.079B
Short-Term Investments
Other Short-Term Assets $218.0M $226.0M $937.0M
YoY Change -9.92% 5.12% -17.08%
Inventory
Prepaid Expenses
Receivables $314.0M $593.0M $405.0M
Other Receivables $150.0M $188.0M $188.0M
Total Short-Term Assets $2.378B $2.609B $2.609B
YoY Change -9.55% -3.3% -3.3%
LONG-TERM ASSETS
Property, Plant & Equipment $10.06B $10.10B $10.10B
YoY Change -4.43% -9.74% -10.69%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $611.0M $663.0M $1.670B
YoY Change 77.62% 258.38% 14.07%
Total Long-Term Assets $11.64B $11.77B $11.77B
YoY Change -2.69% -7.85% -7.85%
TOTAL ASSETS
Total Short-Term Assets $2.378B $2.609B $2.609B
Total Long-Term Assets $11.64B $11.77B $11.77B
Total Assets $14.02B $14.38B $14.38B
YoY Change -3.93% -7.06% -7.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $317.0M $425.0M $425.0M
YoY Change -49.76% -29.52% -29.52%
Accrued Expenses $153.0M $211.0M $39.00M
YoY Change -38.8% -16.6% -93.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.020B $1.314B $1.314B
YoY Change -46.26% -51.41% -51.41%
LONG-TERM LIABILITIES
Long-Term Debt $2.025B $2.028B $2.028B
YoY Change -0.74% -34.43% -34.43%
Other Long-Term Liabilities $21.00M $31.00M $305.0M
YoY Change -57.14% -38.0% -44.24%
Total Long-Term Liabilities $2.046B $2.059B $2.333B
YoY Change -2.06% -34.49% -35.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.020B $1.314B $1.314B
Total Long-Term Liabilities $2.046B $2.059B $2.333B
Total Liabilities $3.336B $3.647B $3.647B
YoY Change -22.56% -42.51% -42.51%
SHAREHOLDERS EQUITY
Retained Earnings $4.923B $4.974B
YoY Change 8.13% 46.34%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.68B $10.73B $10.73B
YoY Change
Total Liabilities & Shareholders Equity $14.02B $14.38B $14.38B
YoY Change -3.93% -7.06% -7.06%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $26.00M $569.0M $2.419B
YoY Change -98.13% -83.8% -50.99%
Depreciation, Depletion And Amortization $399.0M $379.0M $1.527B
YoY Change 2.31% -16.34% -12.89%
Cash From Operating Activities $552.0M $470.0M $2.380B
YoY Change -37.91% -55.24% -42.3%
INVESTING ACTIVITIES
Capital Expenditures $421.0M $379.0M $1.829B
YoY Change -15.29% -27.67% 0.33%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $47.00M $484.0M $2.302B
YoY Change -94.73% -2520.0% -245.88%
Cash From Investing Activities -$374.0M $105.0M $473.0M
YoY Change -194.68% -119.3% -113.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $355.0M
YoY Change -66.92%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$77.00M -208.0M -$1.892B
YoY Change -93.98% -53.15% 30.84%
NET CHANGE
Cash From Operating Activities $552.0M 470.0M $2.380B
Cash From Investing Activities -$374.0M 105.0M $473.0M
Cash From Financing Activities -$77.00M -208.0M -$1.892B
Net Change In Cash $101.0M 367.0M $961.0M
YoY Change 1920.0% 491.94% -233.1%
FREE CASH FLOW
Cash From Operating Activities $552.0M $470.0M $2.380B
Capital Expenditures $421.0M $379.0M $1.829B
Free Cash Flow $131.0M $91.00M $551.0M
YoY Change -66.58% -82.7% -76.06%

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<div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Accounting Estimates</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosures in the financial statements. Management evaluates its estimates and related assumptions regularly, including those related to the impairment of natural gas and oil properties, natural gas and oil reserves, derivatives, income taxes, impairment of other property and equipment, environmental remediation costs, asset retirement obligations, litigation and regulatory proceedings and fair values. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ significantly from these estimates.</span></div>
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StockRepurchasedAndRetiredDuringPeriodShares
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CY2022Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
83000000 usd
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82.98
CY2022Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
5812000 shares
CY2022Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
515000000 usd
CY2022Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
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88.67
CY2022Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
750000 shares
CY2022Q3 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
69000000 usd
CY2022Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
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92.14
CY2022Q4 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
4105000 shares
CY2022Q4 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
406000000 usd
CY2022Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
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98.90
CY2023Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
793000 shares
CY2023Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
60000000 usd
CY2023Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
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74.95
CY2023Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1444000 shares
CY2023Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
115000000 usd
CY2023Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
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78.77
CY2023Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1509000 shares
CY2023Q3 us-gaap Stock Repurchased And Retired During Period Value
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130000000 usd
CY2023Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
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86.16
CY2023Q4 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
627000 shares
CY2023Q4 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
52000000 usd
CY2023Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
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82.03
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
16040000 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1430000000 usd
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2021Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2022 us-gaap Capitalized Exploratory Well Cost Additions Pending Determination Of Proved Reserves
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us-gaap Capitalized Exploratory Well Cost Additions Pending Determination Of Proved Reserves
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CY2023 chk Capitalized Exploratory Well Cost Divestitures Pending Determinationof Proved Reserves
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CY2022 chk Capitalized Exploratory Well Cost Divestitures Pending Determinationof Proved Reserves
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chk Capitalized Exploratory Well Cost Divestitures Pending Determinationof Proved Reserves
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CY2021Q1 chk Capitalized Exploratory Well Cost Divestitures Pending Determinationof Proved Reserves
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CY2023 us-gaap Reclassification To Well Facilities And Equipment Based On Determination Of Proved Reserves
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CY2022 us-gaap Reclassification To Well Facilities And Equipment Based On Determination Of Proved Reserves
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us-gaap Reclassification To Well Facilities And Equipment Based On Determination Of Proved Reserves
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CY2021Q1 us-gaap Reclassification To Well Facilities And Equipment Based On Determination Of Proved Reserves
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CY2022 us-gaap Capitalized Exploratory Well Cost Charged To Expense1
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us-gaap Capitalized Exploratory Well Cost Charged To Expense1
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CY2022Q4 us-gaap Capitalized Exploratory Well Costs
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CY2021Q4 us-gaap Capitalized Exploratory Well Costs
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CY2021Q1 us-gaap Capitalized Exploratory Well Costs
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CY2023Q4 us-gaap Property Plant And Equipment Other
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CY2023Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
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CY2022Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
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CY2023Q4 us-gaap Property Plant And Equipment Other Net
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CY2022Q4 us-gaap Property Plant And Equipment Other Net
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CY2023 us-gaap Exploration Expense
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CY2023 us-gaap Noncash Project Abandonment Costs
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CY2022 us-gaap Exploration Expense
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CY2022 us-gaap Noncash Project Abandonment Costs
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CY2022 chk Dry Hole Expense
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chk Exploration Expenses
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CY2022Q4 us-gaap Asset Retirement Obligation
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CY2021Q4 us-gaap Asset Retirement Obligation
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CY2023 us-gaap Asset Retirement Obligation Liabilities Incurred
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CY2022 us-gaap Asset Retirement Obligation Liabilities Incurred
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CY2023 us-gaap Asset Retirement Obligation Revision Of Estimate
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CY2022 us-gaap Asset Retirement Obligation Revision Of Estimate
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CY2023 us-gaap Asset Retirement Obligation Liabilities Settled
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CY2022 us-gaap Asset Retirement Obligation Liabilities Settled
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CY2023 chk Asset Retirement Obligation Held For Sale
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CY2022 chk Asset Retirement Obligation Held For Sale
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CY2023 us-gaap Asset Retirement Obligation Accretion Expense
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CY2022 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
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CY2023Q4 us-gaap Asset Retirement Obligation
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CY2022Q4 us-gaap Asset Retirement Obligation
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CY2023Q4 us-gaap Asset Retirement Obligation Current
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CY2022Q4 us-gaap Asset Retirement Obligation Current
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CY2023Q4 us-gaap Asset Retirement Obligations Noncurrent
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265000000 usd
CY2022Q4 us-gaap Asset Retirement Obligations Noncurrent
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CY2023Q4 us-gaap Capitalized Costs Proved Properties
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CY2022Q4 us-gaap Capitalized Costs Proved Properties
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11096000000 usd
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1806000000 usd
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CY2023Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Gross
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CY2022Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Gross
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CY2023Q4 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
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3584000000 usd
CY2022Q4 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
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2373000000 usd
CY2023Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
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9690000000 usd
CY2022Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
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10745000000 usd
CY2023 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
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10000000 usd
CY2022 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
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us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
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2183000000 usd
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0 usd
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CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
52000000 usd
CY2022 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
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795000000 usd
us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
1121000000 usd
CY2021Q1 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
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CostsIncurredExplorationCosts
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us-gaap Costs Incurred Exploration Costs
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31000000 usd
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us-gaap Costs Incurred Development Costs
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CY2023 us-gaap Results Of Operations Revenue From Oil And Gas Producing Activities
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us-gaap Results Of Operations Production Or Lifting Costs
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us-gaap Results Of Operations Income Tax Expense
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CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
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CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
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CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Income Tax Expense
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CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
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CY2022Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
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CY2021Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
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CY2022Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
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CY2021Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
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CY2020Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
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CY2023 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
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CY2022 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
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CY2021 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
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CY2023 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
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CY2022 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
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CY2023 srt Increase Decrease In Estimated Future Development Costs
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CY2023 srt Previously Estimated Development Costs Incurred
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PreviouslyEstimatedDevelopmentCostsIncurred
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CY2023 srt Revisions Of Previous Quantity Estimates
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CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
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CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
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