The following table sets forth the Company’s property, plant and equipment:
 December 31,
 20252024
 (In thousands)
Proved oil and gas properties$14,127,286 $11,923,792 
Less: Accumulated depletion(3,541,219)(2,115,428)
Proved oil and gas properties, net10,586,067 9,808,364 
Unproved oil and gas properties721,682 846,994 
Other property and equipment60,395 58,158 
Less: Accumulated depreciation and impairment(31,615)(27,347)
Other property and equipment, net28,780 30,811 
Total property, plant and equipment, net$11,336,529 $10,686,169 
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Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Feb 27, 2025
2023Feb 26, 2024
2022Feb 28, 2023
2021Feb 25, 2022
2020Mar 8, 2021
2019Feb 27, 2020
2018Mar 1, 2019
2017Feb 28, 2018
2016Feb 23, 2017
2015Feb 25, 2016

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.