Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment (Tables)

v3.8.0.1
Property and Equipment (Tables)
 9 Months Ended
Sep. 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 September 30, 2017 and December 31, 2016 are as follows:
 
September 30, 2017
 
December 31, 2016
 
(In thousands)
Oil and natural gas properties
$
8,867,239

 
$
6,071,920

Office furniture and fixtures
34,875

 
21,204

Building
44,530

 
42,530

Land
4,820

 
5,252

Total property and equipment
8,951,464

 
6,140,906

Accumulated depletion, depreciation, amortization and impairment
(4,043,879
)
 
(3,789,780
)
Property and equipment, net
$
4,907,585

 
$
2,351,126

Summary of Non-producing Properties Excluded from Amortization by Area
The following table summarizes the Company’s non-producing properties excluded from amortization by area at September 30, 2017:
 
September 30, 2017
 
(In thousands)
Utica
$
1,517,555

MidContinent
1,435,992

Niobrara
2,182

Southern Louisiana
536

Bakken
99

Other
368

 
$
2,956,732

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

 
$
26,437

Liabilities incurred
11,557

 
6,726

Liabilities settled
(2,520
)
 
(955
)
Accretion expense
1,148

 
777

Asset retirement obligation as of end of period
44,461

 
32,985

Less current portion
195

 
75

Asset retirement obligation, long-term
$
44,266

 
$
32,910