Some of the information in this prospectus may contain “forward-looking statements.” All statements, other than statements of historical fact included in this prospectus regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this prospectus, words such as “may,” “assume,” “forecast,” “could,” “should,” “will,” “plan,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “budget” and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current belief, based on currently available information, as to the outcome and timing of future events at the time such statement was made. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements described under the heading “Risk Factors” included in this prospectus. Examples of forward-looking statements include, among others, statements we make regarding:
| • | our estimated proved reserves; |
| • | our ability to achieve or maintain certain financial and operational metrics; |
| • | our drilling prospects, inventories, projects and programs; |
| • | actions taken by the OPEC and other allied countries (collectively known as “OPEC+”) as it pertains to the global supply and demand of, and prices for, oil, natural gas and NGLs; |
| • | armed conflict, political instability, or civil unrest in oil and gas producing regions, including instability in the Middle East and the conflict between Russia and Ukraine, and the related potential effects on laws and regulations, or the imposition of economic or trade sanctions; |
| • | our ability to replace the reserves we produce through drilling and property acquisitions; |
| • | the occurrence or threat of epidemic or pandemic diseases, or any government response to such occurrence or threat; |
| • | our financial strategy, leverage, liquidity and capital required for our development program; |
| • | our pending legal matters; |
| • | our ability to comply with environmental, health and safety laws, regulations, and obligations; |
| • | our realized oil, natural gas and NGL prices; |
| • | the timing and amount of our future production of oil, natural gas and NGLs; |
| • | our ability to reduce or offset our GHG emissions, including our ability to achieve carbon neutrality; |
| • | our hedging strategy and results; |
| • | our competition and government regulations; |
| • | our marketing of oil, natural gas and NGLs; |
| • | our leasehold or business acquisitions; |
| • | our costs of developing our properties; |
| • | general economic conditions; |
| • | uncertainty regarding our future operating results; and |
| • | our plans, objectives, expectations and intentions contained in this prospectus that are not historical. |
We caution you that these forward-looking statements are subject to all of the risks and uncertainties incident to the development, production, gathering and sale of oil, natural gas and NGLs, most of which are difficult to predict and many of which are beyond our control. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability and cost of drilling, completion and production equipment and services, project construction delays, environmental risks, drilling, completion and other operating risks, lack of availability or capacity of midstream gathering and transportation infrastructure, regulatory changes, the uncertainty inherent in estimating reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures and the other risks described under “Risk Factors.”
Reserve engineering is a process of estimating underground accumulations of hydrocarbons that cannot be measured in an exact way. The accuracy of any reserve estimates depends on the quality of available data, the interpretation of such data and price and cost assumptions made by reserve engineers. In addition, the results of drilling, testing and production activities may justify revisions of estimates that were made previously. If significant, such revisions would change the schedule of any future production and development program. Accordingly, reserve estimates may differ significantly from the quantities of oil and natural gas that are ultimately recovered.
Should one or more of the risks or uncertainties described in this prospectus occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements.
