Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment (Tables)

v3.7.0.1
Property and Equipment (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2017 and December 31, 2016 are as follows:
 
June 30, 2017
 
December 31, 2016
 
(In thousands)
Oil and natural gas properties
$
8,500,790

 
$
6,071,920

Office furniture and fixtures
30,227

 
21,204

Building
44,474

 
42,530

Land
4,820

 
5,252

Total property and equipment
8,580,311

 
6,140,906

Accumulated depletion, depreciation, amortization and impairment
(3,937,656
)
 
(3,789,780
)
Property and equipment, net
$
4,642,655

 
$
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 June 30, 2017:
 
June 30, 2017
 
(In thousands)
Utica
$
1,614,824

MidCon
1,491,144

Niobrara
2,173

Southern Louisiana
536

Bakken
98

Other
368

 
$
3,109,143

Schedule of Asset Retirement Obligation
A reconciliation of the Company’s asset retirement obligation for the six months ended June 30, 2017 and 2016 is as follows:
 
June 30, 2017
 
June 30, 2016
 
(In thousands)
Asset retirement obligation, beginning of period
$
34,276

 
$
26,437

Liabilities incurred
9,505

 
3,195

Liabilities settled
(344
)
 
(72
)
Accretion expense
692

 
508

Asset retirement obligation as of end of period
44,129

 
30,068

Less current portion
195

 
75

Asset retirement obligation, long-term
$
43,934

 
$
29,993