Ann: Xstate Resources Operations Update, page-340

From the 2020 Annual Report

The Californian energy system remains highly reliant on gas, supplying about one-third of California’s primary energy
demand. About 90% of California’s natural gas is sourced outside the state. Generation of a local supply of natural gas
would have obvious benefits. Californian natural gas prices remain higher than US benchmark Henry Hub prices, remaining
at a premium of about 40% to the US benchmark. Xstate and the joint venture partners will work to increase the natural
gas production from existing producing assets held by the joint venture. Increasing low-cost production from existing
producing assets would provide immediate benefits to Xstate and its joint venture partners. There is also the possibility of
bringing additional wells back into gas flowing conditions.

You never know, there could be a darkhorse announcement that no one expects?

DYOR