Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT (Tables)

v3.19.3.a.u2
PROPERTY AND EQUIPMENT (Tables)
 9 Months Ended
Sep. 30, 2019
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, 2019 and December 31, 2018 are as follows:
 
September 30, 2019
 
December 31, 2018
 
(In thousands)
 
As Restated
 
 
Oil and natural gas properties
$
10,551,713

 
$
10,026,836

Other depreciable property and equipment
90,712

 
87,146

Land
5,521

 
5,521

Total property and equipment
10,647,946

 
10,119,503

Accumulated depletion, depreciation, amortization and impairment
(5,616,988
)
 
(4,640,098
)
Property and equipment, net
$
5,030,958

 
$
5,479,405


Schedule of non-producing properties excluded from amortization by area
The following table summarizes the Company’s unproved properties excluded from amortization by area at September 30, 2019:
 
September 30, 2019
 
(In thousands)
 
As Restated
Utica
$
1,112,148

MidContinent
1,148,271

Other
340

 
$
2,260,759


Schedule of asset retirement obligation
A reconciliation of the Company’s asset retirement obligation for the nine months ended September 30, 2019 and 2018 is as follows:
 
September 30, 2019
 
September 30, 2018
 
(In thousands)
Asset retirement obligation, beginning of period
$
79,952

 
$
75,100

Liabilities incurred
5,769

 
1,468

Liabilities settled
(117
)
 
(719
)
Liabilities removed due to divestitures
(30,035
)
 
—

Accretion expense
3,173

 
3,056

Revisions in estimated cash flows
1,077

 
(374
)
Asset retirement obligation as of end of period
59,819

 
78,531

Less current portion
—

 
120

Asset retirement obligation, long-term
$
59,819

 
$
78,411