Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT (Tables)

v3.20.2
PROPERTY AND EQUIPMENT (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2020 and December 31, 2019 are as follows:
June 30, 2020 December 31, 2019
(In thousands)
Oil and natural gas properties $ 10,730,992    $ 10,595,735   
Accumulated DD&A and impairment (8,415,756)   (7,191,957)  
Oil and natural gas properties, net 2,315,236    3,403,778   
Other depreciable property and equipment 91,317    91,198   
Land 5,521    5,521   
Accumulated DD&A (41,708)   (36,703)  
Other property and equipment, net 55,130    60,016   
Property and equipment, net $ 2,370,366    $ 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 June 30, 2020:
June 30, 2020
(In thousands)
Utica $ 874,886   
MidContinent 687,169   
Other 2,134   
$ 1,564,189   
Schedule of asset retirement obligation
A reconciliation of the Company’s asset retirement obligation for the six months ended June 30, 2020 and 2019 is as follows:
June 30, 2020 June 30, 2019
(In thousands)
Asset retirement obligation, beginning of period $ 60,355    $ 79,952   
Liabilities incurred 1,553    5,153   
Liabilities settled —    (117)  
Liabilities removed due to divestitures (2,033)   —   
Accretion expense 1,496    2,426   
Revisions in estimated cash flows —    1,077   
Asset retirement obligation as of end of period 61,371    88,491