Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment (Tables)

v3.5.0.2
Property and Equipment (Tables)
 9 Months Ended
Sep. 30, 2016
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
The major categories of property and equipment and related accumulated depletion, depreciation, amortization and impairment as of September 30, 2016 and December 31, 2015 are as follows:
 
September 30, 2016
 
December 31, 2015
 
(In thousands)
Oil and natural gas properties
$
5,816,458

 
$
5,424,342

Office furniture and fixtures
13,862

 
12,589

Building
36,931

 
16,915

Land
3,667

 
3,667

Total property and equipment
5,870,918

 
5,457,513

Accumulated depletion, depreciation, amortization and impairment
(3,613,662
)
 
(2,829,110
)
Property and equipment, net
$
2,257,256

 
$
2,628,403

Summary of Oil and Gas Properties Not Subject to Amortization
The following table summarizes the Company’s non-producing properties excluded from amortization by area at September 30, 2016:
 
September 30, 2016
 
(In thousands)
Utica
$
1,718,379

Niobrara
4,857

Southern Louisiana
443

Bakken
97

Other
45

 
$
1,723,821

Schedule of Asset Retirement Obligation
A reconciliation of the Company's asset retirement obligation for the nine months ended September 30, 2016 and 2015 is as follows:
 
September 30, 2016
 
September 30, 2015
 
(In thousands)
Asset retirement obligation, beginning of period
$
26,437

 
$
17,938

Liabilities incurred
6,726

 
5,736

Liabilities settled
(955
)
 
(1,120
)
Accretion expense
777

 
594

Asset retirement obligation as of end of period
32,985

 
23,148

Less current portion
75

 
75

Asset retirement obligation, long-term
$
32,910

 
$
23,073