|
Property And Equipment (Tables)
|
3 Months Ended |
12 Months Ended |
|
Mar. 31, 2013
|
Dec. 31, 2012
|
| 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 March 31, 2013 and December 31, 2012 are as follows:
|
|
|
|
|
|
|
|
|
|
March 31, 2013 |
|
December 31, 2012 |
|
(In thousands) |
Oil and natural gas properties |
$ |
1,932,419 |
|
|
$ |
1,611,090 |
|
Office furniture and fixtures |
4,738 |
|
|
4,476 |
|
Building |
3,926 |
|
|
3,926 |
|
Land |
260 |
|
|
260 |
|
Total property and equipment |
1,941,343 |
|
|
1,619,752 |
|
Accumulated depletion, depreciation, amortization and impairment |
(688,467 |
) |
|
(665,884 |
) |
Property and equipment, net |
$ |
1,252,876 |
|
|
$ |
953,868 |
|
|
The major categories of property and equipment and related accumulated depletion, depreciation, amortization and impairment as of December 31, 2012 and 2011 are as follows:
|
|
|
|
|
|
|
|
|
|
December 31, |
|
2012 |
|
2011 |
Oil and natural gas properties |
$ |
1,611,090,000 |
|
|
$ |
1,035,754,000 |
|
Office furniture and fixtures |
4,476,000 |
|
|
3,692,000 |
|
Building |
3,926,000 |
|
|
4,049,000 |
|
Land |
260,000 |
|
|
283,000 |
|
Total property and equipment |
1,619,752,000 |
|
|
1,043,778,000 |
|
Accumulated depletion, depreciation, amortization and impairment |
(665,884,000 |
) |
|
(575,142,000 |
) |
Property and equipment, net |
$ |
953,868,000 |
|
|
$ |
468,636,000 |
|
|
| Summary Of Oil And Gas Properties Not Subject To Amortization |
The following table summarizes the Company’s non-producing properties excluded from amortization by area at March 31, 2013:
|
|
|
|
|
|
March 31, 2013 |
|
(In thousands) |
Colorado |
$ |
6,088 |
|
Bakken |
301 |
|
Southern Louisiana |
789 |
|
Ohio |
862,655 |
|
Other |
46 |
|
|
$ |
869,879 |
|
|
The following is a summary of Gulfport’s oil and gas properties not subject to amortization as of December 31, 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Costs Incurred in |
|
2012 |
|
2011 |
|
2010 |
|
Prior to 2010 |
|
Total |
Acquisition costs |
$ |
512,636,000 |
|
|
$ |
112,591,000 |
|
|
$ |
661,000 |
|
|
$ |
407,000 |
|
|
$ |
626,295,000 |
|
Exploration costs |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Development costs |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total oil and gas properties not subject to amortization |
$ |
512,636,000 |
|
|
$ |
112,591,000 |
|
|
$ |
661,000 |
|
|
$ |
407,000 |
|
|
$ |
626,295,000 |
|
|
| Schedule Of Asset Retirement Obligation |
A reconciliation of the Company's asset retirement obligation for the three months ended March 31, 2013 and 2012 is as follows:
|
|
|
|
|
|
|
|
|
|
March 31, 2013 |
|
March 31, 2012 |
|
(In thousands) |
Asset retirement obligation, beginning of period |
$ |
13,275 |
|
|
$ |
12,653 |
|
Liabilities incurred |
670 |
|
|
598 |
|
Liabilities settled |
(780 |
) |
|
(531 |
) |
Accretion expense |
175 |
|
|
176 |
|
Asset retirement obligation as of end of period |
13,340 |
|
|
12,896 |
|
Less current portion |
780 |
|
|
620 |
|
Asset retirement obligation, long-term |
$ |
12,560 |
|
|
$ |
12,276 |
|
|
A reconciliation of the asset retirement obligation for the years ended December 31, 2012 and 2011 is as follows:
|
|
|
|
|
|
|
|
|
|
December 31, |
|
2012 |
|
2011 |
Asset retirement obligation, beginning of period |
$ |
12,653,000 |
|
|
$ |
10,845,000 |
|
Liabilities incurred |
2,195,000 |
|
|
1,390,000 |
|
Liabilities settled |
(2,271,000 |
) |
|
(248,000 |
) |
Accretion expense |
698,000 |
|
|
666,000 |
|
Asset retirement obligation as of end of period |
13,275,000 |
|
|
12,653,000 |
|
Less current portion |
60,000 |
|
|
620,000 |
|
Asset retirement obligation, long-term |
$ |
13,215,000 |
|
|
$ |
12,033,000 |
|
|