Company: ACTG
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000934549-25-000004
Chunk: 135

Company: ACACIA RESEARCH CORP
Filing Date: 2025-03-17
Form: 10-K
Item: Item 2
Chunk 135
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 producing wells in which Benchmark owns a working interest and net wells represent the total of Benchmark’s fractional working interests owned in the gross wells.

Oil WellsNatural Gas WellsTotal WellsGrossNetGrossNetGrossNetAnadarko BasinOperated Wells245205 306 267 551 472 Non-Operated Wells424 22 4 64 8 Total287209328271615480

Acreage

The following table summarizes Benchmark’s estimated gross and net developed and undeveloped acreage as of December 31, 2024.

Developed AcreageUndeveloped Acreage(1)Total Acreage(in thousands)GrossNetGrossNetGrossNetAnadarko Basin1,151148 122 8 1,273 156 _________________________

(1)Represents acreage that is not allocated or assignable to productive wells.

Acreage Expirations

As a non-operator, we are subject to lease expirations if an operator does not commence the development of operations within the agreed terms of our leases. Our leases for undeveloped acreage will expire at the end of their respective primary terms, unless we renew the existing leases, establish commercial production from the acreage or some other “savings clause” is exercised. In addition, our leases typically provide that the lease does not expire at the end of the primary term if 

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drilling operations have been commenced. While we generally expect to establish production from most of our acreage prior to expiration of the applicable lease terms, there can be no guarantee they can do so.

Manufacturing Operations

Deflecto’s primary corporate and manufacturing offices are located in Indianapolis. Deflecto conducts its foreign and domestic operations using leased facilities under non-cancelable operating leases that expire at various dates through 2031. Deflecto leases other warehouses and manufacturing sites located in the United States, United Kingdom, Canada and China. We believe that Deflecto’s facilities are adequate, suitable and of sufficient capacity to support its immediate needs.