Company: NC
Filing Date: 2025-04-07
Form Type: ARS
Source: 0000789933-25-000013
Chunk: 186

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: ARS
Chunk 186
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38

been prepared using standard engineering practices generally accepted by the petroleum industry and conform to guidelines developed and adopted by the SEC. The following table presents our estimated net proved oil and natural gas reserves as of December 31 based on the reserve report prepared by Haas & Cobb Petroleum Consultants, our independent petroleum engineering firm. All of our reserves are located in the United States. Net reserves as of December 31, 2024 Oil (bbl) (1) NGL (bbl) (1) Residue gas (Mcf) (2) Proved developed 620,790 443,650 27,491,840 Proved undeveloped 74,400 30,280 135,830 Total 695,190 473,930 27,627,670 Net reserves as of December 31, 2023 Oil (bbl) (1) NGL (bbl) (1) Residue gas (Mcf) (2) Proved developed 656,370 380,650 23,596,110 Proved undeveloped 9,020 3,720 26,420 Total 665,390 384,370 23,622,530 (1) Bbl. One stock tank barrel, or 42 U.S. gallons liquid volume. (2) Mcf. One thousand cubic feet of natural gas at the contractual pressure and temperature bases. Estimated Proved Reserves The following table summarizes changes in proved reserves during the year ended December 31, 2024: Estimated Proved Reserves Oil (bbl) (1) NGL (bbl) (1) Residue gas (Mcf) (2) December 31, 2023 665,390 384,370 23,622,530 Purchases 14,005 1,233 29,268 Extensions and discoveries 236,491 85,087 7,040,710 Revisions of previous estimates (3) (105,479) 63,441 (498,627) Production (32,077) (15,687) (1,843,911) Other (83,140) (44,514) (722,300) December 31, 2024 695,190 473,930 27,627,670 Estimated Proved Undeveloped Reserves (PUDs) The following table summarizes changes in PUDs during the year ended December 31, 2024: Estimated