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related topics |
{gas, price, oil} |
{operation, natural, condition} |
{loss, insurance, financial} |
{cost, regulation, environmental} |
{acquisition, growth, future} |
{debt, indebtedness, cash} |
{stock, price, operating} |
{investment, property, distribution} |
{regulation, change, law} |
{condition, economic, financial} |
{competitive, industry, competition} |
{capital, credit, financial} |
{loan, real, estate} |
{customer, product, revenue} |
{personnel, key, retain} |
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Changes in the differential between NYMEX or other benchmark prices of oil and gas and the reference or regional index price used to price our actual oil and gas sales could have a material adverse effect on our financial condition or results of operations.
Future economic conditions in the U.S. and international markets could materially and adversely affect our business, financial condition or results of operations.
Difficult conditions in the credit and capital markets may limit our ability to obtain funding under our current revolving credit facility or other sources of debt or equity financing. The inability to obtain funding could prevent us from meeting our future capital needs to fund our development program.
Our lenders can limit our borrowing capabilities, which may materially impact our operations.
Drilling and exploring for, and producing, oil and gas are high risk activities with many uncertainties that could adversely affect our business, financial condition or results of operations.
The use of geophysical and geological analyses and other technical or operating data to evaluate drilling prospects is uncertain and does not guarantee drilling success or recovery of economically producible reserves.
Currently, all of our producing properties are located in three counties in Texas, making us vulnerable to risks associated with having our production concentrated in a small area.
Identified drilling locations that we decide to drill may not yield oil or gas in commercially viable quantities and are susceptible to uncertainties that could materially alter the occurrence or timing of their drilling.
Unless we replace our oil and gas reserves, our reserves and production will decline.
Our actual production, revenues and expenditures related to our reserves are likely to differ from our estimates of our proved reserves. We may experience production that is less than estimated and drilling costs that are greater than estimated in our reserve reports. These differences may be material.
The unavailability or high cost of drilling rigs, equipment, supplies, personnel and oilfield services could adversely affect our ability to execute our exploration and development plans on a timely basis and within our budget.
We have leases and options for undeveloped acreage that may expire in the near future.
Competition in the oil and gas industry is intense, and many of our competitors have resources that are greater than ours.
Our customer base is concentrated, and the loss of our key customers could, therefore, adversely affect our financial results.
We depend on our management team and other key personnel. Accordingly, the loss of any of these individuals could adversely affect our business, financial condition and the results of operations and future growth.
We have three affiliated stockholders who, together with our board and management, have a 42% interest in our company, whose interests may differ from your interests and who will be able to control or substantially influence the outcome of matters voted upon by our stockholders.
We have renounced any interest in specified business opportunities, and certain members of our board of directors and certain of our stockholders generally have no obligation to offer us those opportunities.
We are subject to complex governmental laws and regulations that may adversely affect the cost, manner or feasibility of doing business.
Possible regulation related to global warming and climate change could have an adverse effect on our business, financial condition or results of operations and demand for natural gas and oil.
Legislation and regulatory initiatives relating to hydraulic fracturing could result in increased costs, additional operating restrictions or delays or lower returns on our capital investments.
Changes in tax laws may adversely affect our results of operations and cash flows.
Derivatives regulation could restrict our ability to execute commodity derivative transactions to protect against risk associated with fluctuating commodity prices.
Operating hazards, natural disasters or other interruptions of our operations could result in potential liabilities, which may not be fully covered by our insurance.
Our results are subject to quarterly and seasonal fluctuations.
Market conditions or transportation impediments may hinder our access to oil and gas markets or delay our production.
Environmental liabilities may expose us to significant costs and liabilities.
Our growth strategy could fail or present unanticipated problems for our business in the future, which could adversely affect our ability to make acquisitions or realize anticipated benefits of those acquisitions.
Joint drilling ventures and similar arrangements could expose us to risks.
Severe weather could have a material adverse impact on our business.
A terrorist attack or armed conflict could harm our business.
Risks Related to Our Financial Condition
We will require additional capital to fund our future activities. If we fail to obtain additional capital, we may not be able to fully implement our business plan, which could lead to a decline in reserves.
Our bank lenders can limit our borrowing capabilities, which may materially impact our operations.
We engage in commodity derivative transactions which involve risks that can harm our business.
Full 10-K form ▸
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