Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT (Tables)

v3.20.1
PROPERTY AND EQUIPMENT (Tables)
 3 Months Ended
Mar. 31, 2020
Property, Plant and Equipment [Abstract]  
Schedule of property and equipment
The major categories of property and equipment and related accumulated depletion, depreciation, amortization ("DD&A") and impairment as of March 31, 2020 and December 31, 2019 are as follows:
 
March 31, 2020
 
December 31, 2019
 
(In thousands)
Oil and natural gas properties
$
10,667,532

 
$
10,595,735

Accumulated DD&A and impairment
(7,820,662
)
 
(7,191,957
)
Oil and natural gas properties, net
2,846,870

 
3,403,778

Other depreciable property and equipment
91,361

 
91,198

Land
5,521

 
5,521

Accumulated DD&A
(39,211
)
 
(36,703
)
Other property and equipment, net
57,671

 
60,016

Property and equipment, net
$
2,904,541

 
$
3,463,794


Schedule of non-producing properties excluded from amortization by area
The following table summarizes the Company’s unevaluated properties excluded from amortization by area at March 31, 2020:
 
March 31, 2020
 
(In thousands)
Utica
$
908,481

MidContinent
697,909

Other
2,250

 
$
1,608,640


Schedule of asset retirement obligation
A reconciliation of the Company’s asset retirement obligation for the three months ended March 31, 2020 and 2019 is as follows:
 
March 31, 2020
 
March 31, 2019
 
(In thousands)
Asset retirement obligation, beginning of period
$
60,355

 
$
79,952

Liabilities incurred
381

 
969

Liabilities settled
—

 
(71
)
Liabilities removed due to divestitures
(2,033
)
 
—

Accretion expense
741

 
1,067

Revisions in estimated cash flows
—

 
983

Asset retirement obligation as of end of period
59,444

 
82,900