Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment (Tables)

v3.8.0.1
Property and Equipment (Tables)
 3 Months Ended
Mar. 31, 2018
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, 2018 and December 31, 2017 are as follows:
 
March 31, 2018
 
December 31, 2017
 
(In thousands)
Oil and natural gas properties
$
9,470,697

 
$
9,169,156

Office furniture and fixtures
40,236

 
37,369

Building
44,592

 
44,565

Land
4,820

 
4,820

Total property and equipment
9,560,345

 
9,255,910

Accumulated depletion, depreciation, amortization and impairment
(4,264,647
)
 
(4,153,733
)
Property and equipment, net
$
5,295,698

 
$
5,102,177

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 March 31, 2018:
 
March 31, 2018
 
(In thousands)
Utica
$
1,548,121

MidContinent
1,421,853

Niobrara
449

Southern Louisiana
552

Bakken
99

Other
45

 
$
2,971,119

Schedule of Asset Retirement Obligation
A reconciliation of the Company’s asset retirement obligation for the three months ended March 31, 2018 and 2017 is as follows:
 
March 31, 2018
 
March 31, 2017
 
(In thousands)
Asset retirement obligation, beginning of period
$
75,100

 
$
34,276

Liabilities incurred
329

 
6,779

Liabilities settled
(99
)
 
—

Accretion expense
1,004

 
282

Revisions in estimated cash flows
53

 
—

Asset retirement obligation as of end of period
76,387

 
41,337

Less current portion
120

 
195

Asset retirement obligation, long-term
$
76,267

 
$
41,142