Financial Statements - The audited consolidated financial statements of SYU for the year ended December 31, 2023, will be included in Amendment No. 1 to the Company's Current Report on Form 8-K filed on February 14, 2024[44]. Facility and Capacity - The onshore processing facility has an oil treating plant with a capacity of approximately 180 MBop/d and a biologic/physical water treating plant with a capacity of more than 67 MBwp/d[45]. - The crude storage capacity at the facility is 540 MBbls, supporting operational efficiency and market supply[45]. - The company has a fully integrated oil and gas processing facility with additional capacity for development, indicating potential for future expansion[45]. Market Value - The aggregate market value of the registrant's common stock held by non-affiliates was approximately $67.66 million as of June 30, 2023[62]. Regulatory Compliance - The company is in substantial compliance with environmental laws and holds all necessary permits, which may mitigate potential liabilities[51]. - The company entered into a pre-negotiated settlement agreement with the U.S. Department of Justice regarding the Line 901 incident, indicating ongoing regulatory engagement[46]. Financial Challenges and Strategy - The company anticipates challenges related to commodity price volatility and increased operating costs, which may impact future financial performance[57]. - The company is focused on maintaining relationships with customers and managing growth profitably to realize expected value creation from acquisitions[57]. - The company may face uncertainties related to new technologies and regulatory changes that could affect operational efficiency and market positioning[57].
Flame Acquisition (FLME) - 2023 Q4 - Annual Report