Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment (Tables)

v3.7.0.1
Property and Equipment (Tables)
 3 Months Ended
Mar. 31, 2017
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 March 31, 2017 and December 31, 2016 are as follows:
 
March 31, 2017
 
December 31, 2016
 
(In thousands)
Oil and natural gas properties
$
8,146,321

 
$
6,071,920

Office furniture and fixtures
24,649

 
21,204

Building
45,204

 
42,530

Land
5,254

 
5,252

Total property and equipment
8,221,428

 
6,140,906

Accumulated depletion, depreciation, amortization and impairment
(3,855,629
)
 
(3,789,780
)
Property and equipment, net
$
4,365,799

 
$
2,351,126

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 March 31, 2017:
 
March 31, 2017
 
(In thousands)
Utica
$
1,592,683

MidCon
1,477,643

Niobrara
2,172

Southern Louisiana
484

Bakken
98

Other
368

 
$
3,073,448

Schedule of Asset Retirement Obligation
A reconciliation of the Company’s asset retirement obligation for the three months ended March 31, 2017 and 2016 is as follows:
 
March 31, 2017
 
March 31, 2016
 
(In thousands)
Asset retirement obligation, beginning of period
$
34,276

 
$
26,437

Liabilities incurred
6,779

 
1,914

Liabilities settled
—

 
(52
)
Accretion expense
282

 
247

Asset retirement obligation as of end of period
41,337

 
28,546

Less current portion
195

 
75

Asset retirement obligation, long-term
$
41,142

 
$
28,471