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FORM10-K (Mark One) Delaware(State or other jurisdiction ofincorporation or organization)333 Clay Street,Suite 3300Houston,TX(Address of principal executive offices) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☑No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes☐No☑ for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☑No☐Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See thedefinitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accountingstandards provided pursuant to Section 13(a) of the Exchange Act.☐ Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☑ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executiveofficers during the relevant recovery period pursuant to §240.10D-1(b).☐ The number of shares of registrant’s Common Stock outstanding as of February 19, 2025was180,059,531.Portions of the registrant’s definitive proxy statement relating to the 2025 Annual Meeting of Stockholders are incorporated by reference into Part III of this report. TABLE OF CONTENTS GLOSSARYCAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTSSUMMARY RISK FACTORSPART I 7Items 1 and 2.Business and Properties9Item 1A.Risk Factors30Item 1B.Unresolved Staff Comments54Item 1C.Cybersecurity54Item 3.Legal Proceedings55Item 4.Mine Safety Disclosures57PART IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases Of EquitySecurities58Item 6.[Reserved]59Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations60Item 7A.Quantitative and Qualitative Disclosures About Market Risk77Item 8.Financial Statements and Supplementary Data78Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure78Item 9A.Controls and Procedures78Item 9B.Other Information80Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections80PART IIIItem 10.Directors, Executive Officers and Corporate Governance81Item 11.Executive Compensation81Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters81Item 13.Certain Relationships and Related Transactions, and Director Independence81Item 14.Principal Accountant Fees and Services81PART IVItem 15.Exhibits and Financial Statement Schedules82Item 16.Form 10-K Summary88 GLOSSARY The following are abbreviations and definitions of certain terms used in this document, which are commonly used in the oiland natural gas industry: Barrel or Bbl —One stock tank barrel, or 42 United States gallons liquid volume. Boe —One barrel of oil equivalent determined using the ratio of six Mcf of natural gas to one barrel of crude oil orcondensate. BOEM— Bureau of Ocean Energy Management. BSEE— Bureau of Safety and Environmental Enforcement. Boepd —Barrels of oil equivalent per day. Btu —British thermal unit, which is the heat required to raise the temperature of a one-pound mass of water one degreeFahrenheit. CCS —Carbon capture and sequestration. CO2—Carbon dioxide. Completion —The installation of permanent equipment for the production of oil or natural gas. Deepwater —Water depths of more than 600 feet. Developed acres —The number of acres that are allocated or assignable to producing wells or wells capable of production. Dry well —A well that is an exploratory or development well that is not a productive well. Field —An area consisting of a single reservoir or multiple reservoirs all grouped on or related to the same individualgeological structural feature or stratigraphic condition. GAAP —Accounting principles generally accepted in the United States of America. Gross acres or gross wells —The total acres or wells in which the Company owns a working interest. MBbls —One thousand barrels of crude oil