Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
The major categories of property and equipment and related accumulated DD&A are as follows (in thousands):
June 30, 2023 December 31, 2022
Proved oil and natural gas properties $ 2,695,104  $ 2,418,666 
Unproved properties 188,461  178,472 
Other depreciable property and equipment 7,033  5,977 
Land 386  386 
Total property and equipment 2,890,984  2,603,501 
Accumulated DD&A (705,153) (545,771)
Property and equipment, net $ 2,185,831  $ 2,057,730 
Under the full cost method of accounting, the Company is required to perform a ceiling test each quarter. The test determines a limit, or ceiling, on the book value of the Company's oil and natural gas properties. The Company did not record an impairment of its oil and natural gas properties for the three or six months ended June 30, 2023 or 2022.
Certain general and administrative costs are capitalized to the full cost pool and represent management’s estimate of costs incurred directly related to exploration and development activities. All general and administrative costs not capitalized are charged to expense as they are incurred. Capitalized general and administrative costs were approximately $5.4 million and $10.5 million, for the three and six months ended June 30, 2023, respectively, and $5.0 million and $9.7 million for the three and six months ended June 30, 2022, respectively.
The Company evaluates the costs excluded from its amortization calculation at least annually. Individually insignificant unevaluated properties are grouped for evaluation and periodically transferred to evaluated properties over a timeframe consistent with their expected development schedule.
The following table summarizes the Company’s non-producing properties excluded from amortization by area (in thousands):
June 30, 2023 December 31, 2022
Utica $ 159,412  $ 147,370 
SCOOP 29,049  31,102 
Total unproved properties $ 188,461  $ 178,472 
Asset Retirement Obligation
The following table provides a reconciliation of the Company’s asset retirement obligation for the six months ended June 30, 2023 and 2022 (in thousands):
Six Months Ended June 30, 2023 Six Months Ended June 30, 2022
Asset retirement obligation, beginning of period $ 33,171  $ 28,264 
Liabilities incurred 73  22 
Liabilities settled (165) — 
Liabilities removed due to divestitures (919) (7)
Accretion expense 1,478  1,384 
Total asset retirement obligation, end of period $ 33,638  $ 29,663