Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT (Tables)

v3.10.0.1
PROPERTY AND EQUIPMENT (Tables)
 9 Months Ended
Sep. 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 September 30, 2018 and December 31, 2017 are as follows:
 
September 30, 2018
 
December 31, 2017
 
(In thousands)
Oil and natural gas properties
$
9,936,714

 
$
9,169,156

Office furniture and fixtures
42,302

 
37,369

Building
44,565

 
44,565

Land
5,521

 
4,820

Total property and equipment
10,029,102

 
9,255,910

Accumulated depletion, depreciation, amortization and impairment
(4,506,306
)
 
(4,153,733
)
Property and equipment, net
$
5,522,796

 
$
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 September 30, 2018:
 
September 30, 2018
 
(In thousands)
Utica
$
1,522,633

MidContinent
1,401,392

Niobrara
449

Southern Louisiana
571

Bakken
100

 
$
2,925,145

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

 
$
34,276

Liabilities incurred
1,468

 
11,557

Liabilities settled
(719
)
 
(2,520
)
Accretion expense
3,056

 
1,148

Revisions in estimated cash flows
(374
)
 
—

Asset retirement obligation as of end of period
78,531

 
44,461

Less current portion
120

 
195

Asset retirement obligation, long-term
$
78,411

 
$
44,266