Annual report pursuant to Section 13 and 15(d)

Property And Equipment (Tables)

v2.4.1.9
Property And Equipment (Tables)
 12 Months Ended
Dec. 31, 2014
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 December 31, 2014 and 2013 are as follows:
 
 
December 31,
 
2014
 
2013
 
(In thousands)
Oil and natural gas properties
$
3,923,154

 
$
2,477,178

Office furniture and fixtures
10,752

 
6,093

Building
5,398

 
4,626

Land
2,194

 
412

Total property and equipment
3,941,498

 
2,488,309

Accumulated depletion, depreciation, amortization and impairment
(1,050,879
)
 
(784,717
)
Property and equipment, net
$
2,890,619

 
$
1,703,592

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 December 31, 2014:
 
December 31, 2014
 
(In thousands)
Colorado
$
5,127

Bakken
96

Southern Louisiana
145

Ohio
1,460,125

Other
45

 
$
1,465,538

The following is a summary of Gulfport’s oil and gas properties not subject to amortization as of December 31, 2014:
 
 
Costs Incurred in
 
2014
 
2013
 
2012
 
Prior to 2012
 
Total
 
(in thousands)
Acquisition costs
$
405,226

 
$
323,515

 
$
459,151

 
$
93,864

 
$
1,281,756

Exploration costs
—

 
—

 
—

 
—

 
—

Development costs
173,693

 
1,801

 
506

 
—

 
176,000

Capitalized interest
5,204

 
2,578

 
—

 
—

 
7,782

Total oil and gas properties not subject to amortization
$
584,123

 
$
327,894

 
$
459,657

 
$
93,864

 
$
1,465,538

Schedule Of Asset Retirement Obligation
A reconciliation of the Company's asset retirement obligation for the years ended December 31, 2014 and 2013 is as follows:
 
 
December 31,
 
2014
 
2013
 
(In thousands)
Asset retirement obligation, beginning of period
$
15,083

 
$
13,275

Liabilities incurred
9,295

 
3,556

Liabilities settled
(7,201
)
 
(2,465
)
Accretion expense
761

 
717

Asset retirement obligation as of end of period
17,938

 
15,083

Less current portion
75

 
795

Asset retirement obligation, long-term
$
17,863

 
$
14,288