Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT (Tables)

v3.21.1
PROPERTY AND EQUIPMENT (Tables)
 3 Months Ended
Mar. 31, 2021
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
The major categories of property and equipment and related accumulated DD&A and impairment as of March 31, 2021 and December 31, 2020 are as follows:
March 31, 2021 December 31, 2020
(In thousands)
Oil and natural gas properties $ 10,895,625  $ 10,816,909 
Other depreciable property and equipment 85,827  85,530 
Land 3,008  3,008 
Total property and equipment 10,984,460  10,905,447 
Accumulated DD&A and impairment (8,874,899) (8,819,178)
Property and equipment, net $ 2,109,561  $ 2,086,269 
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, 2021:
March 31, 2021
(In thousands)
Utica $ 761,397 
SCOOP 651,451 
Other 926 
$ 1,413,774 
Schedule of Asset Retirement Obligation
A reconciliation of the Company’s asset retirement obligation for the three months ended March 31, 2021 and 2020 is as follows:
March 31, 2021 March 31, 2020
(In thousands)
Asset retirement obligation, beginning of period $ 63,566  $ 60,355 
Liabilities incurred 483  381 
Liabilities removed due to divestitures —  (2,033)
Accretion expense 805  741 
Total asset retirement obligation as of end of period $ 64,854  $ 59,444 
Less: amounts reclassified to liabilities subject to compromise $ (64,854) $ — 
Total asset retirement obligation reflected as non-current liabilities $ —  $ 59,444