Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment (Tables)

v3.10.0.1
Property and Equipment (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2018 and December 31, 2017 are as follows:
 
June 30, 2018
 
December 31, 2017
 
(In thousands)
Oil and natural gas properties
$
9,749,156

 
$
9,169,156

Office furniture and fixtures
41,822

 
37,369

Building
44,565

 
44,565

Land
4,820

 
4,820

Total property and equipment
9,840,363

 
9,255,910

Accumulated depletion, depreciation, amortization and impairment
(4,386,370
)
 
(4,153,733
)
Property and equipment, net
$
5,453,993

 
$
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 June 30, 2018:
 
June 30, 2018
 
(In thousands)
Utica
$
1,538,885

MidContinent
1,417,309

Niobrara
451

Southern Louisiana
571

Bakken
99

Other
46

 
$
2,957,361

Schedule of Asset Retirement Obligation
A reconciliation of the Company’s asset retirement obligation for the six months ended June 30, 2018 and 2017 is as follows:
 
June 30, 2018
 
June 30, 2017
 
(In thousands)
Asset retirement obligation, beginning of period
$
75,100

 
$
34,276

Liabilities incurred
909

 
9,505

Liabilities settled
(719
)
 
(344
)
Accretion expense
2,019

 
692

Revisions in estimated cash flows
(374
)
 
—

Asset retirement obligation as of end of period
76,935

 
44,129

Less current portion
120

 
195

Asset retirement obligation, long-term
$
76,815

 
$
43,934