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Properties and Equipment, Net
 9 Months Ended
Sep. 30, 2014
Property, Plant and Equipment [Abstract]  
Properties and Equipment, Net
Properties and Equipment, Net
Properties and equipment, net are comprised of the following:
(In thousands)
 
September 30,
2014
 
December 31,
2013
Proved oil and gas properties
 
$
7,405,851

 
$
6,362,570

Unproved oil and gas properties
 
354,882

 
375,428

Gathering and pipeline systems
 
240,705

 
239,958

Land, buildings and other equipment
 
105,143

 
94,243

 
 
8,106,581

 
7,072,199

Accumulated depreciation, depletion and amortization
 
(2,976,368
)
 
(2,525,972
)
 
 
$
5,130,213

 
$
4,546,227


At September 30, 2014, the Company did not have any projects that had exploratory well costs that were capitalized for a period of greater than one year after drilling.
Subsequent Events
Acquisitions
In October 2014, the Company completed the acquisition of certain proved and unproved oil and gas properties in the Eagle Ford Shale in south Texas for approximately $210.0 million. Total cash consideration paid by the Company as of the closing date was approximately $186.2 million, subject to customary post-closing adjustments, which reflects the impact of customary purchase price adjustments and an adjustment for consents that the seller was unable to obtain for certain leaseholds prior to closing.
Divestitures
In October 2014, the Company completed the divestiture of certain proved and unproved oil and gas properties in east Texas to a third party for approximately $44.3 million. Total cash consideration received by the Company as of the closing date was approximately $39.9 million, subject to customary post-closing adjustments, which reflects the impact of customary purchase price adjustments. The net book value associated with the oil and gas properties held for sale as of September 30, 2014 was approximately $21.5 million and is included in properties and equipment, net in the Condensed Consolidated Balance Sheet.