• the identification of and severity of adverse environmental events and governmental responses to these or other environmental events; 

• legislative or regulatory changes, including retroactive royalty or production tax regimes, hydraulic-fracturing regulations, derivatives reform, and changes in federal and state income taxes; 

• general economic conditions, whether internationally, nationally or in the regional and local market areas in which we conduct business, may be less favorable than expected, including the possibility that economic conditions in the United States could deteriorate and that capital markets for equity and debt could be disrupted or unavailable; 

• social unrest, political instability or armed conflict in major oil and natural gas producing regions outside the United States and acts of terrorism or sabotage; 

• our insurance coverage may not adequately cover all losses that may be sustained in connection with our business activities; 

• other economic, competitive, governmental, regulatory, legislative, including federal, state and tribal regulations and laws, geopolitical and technological factors that may negatively impact our business, operations or oil and natural gas prices; 

• the effect of our oil and natural gas derivative activities; 

• title to the properties in which we have an interest may be impaired by title defects; 

• our dependency on the skill, ability and decisions of third-party operators of oil and natural gas properties in which we have non- operated working interests; and 

• possible adverse results from litigation and the use of financial resources to defend ourselves. 

All forward-looking statements are expressly qualified in their entirety by the cautionary statements in this section and elsewhere in this report. Other than as required under the securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise. You should not place undue reliance on these forward- looking statements. All forward-looking statements speak only as of the date of this report or, if earlier, as of the date they were made. 

For further information regarding these and other factors, risks and uncertainties affecting us, see Part I, Item 1A. Risk Factors of this report. 

