Property, Plant And Equipment

12 Months Ended

Dec. 31, 2011

Property, Plant And Equipment [Abstract]

5. Property, Plant and Equipment

The following table sets forth the Company's property, plant and equipment:

		September 30,			September 30,
	December 31,
	2011			2010
	(In thousands)
Proved oil and gas properties	$	1,152,532		$	479,657
Less: Accumulated depreciation, depletion, amortization and impairment		(174,948	)		(98,821	)

Proved oil and gas properties, net		977,584			380,836
Unproved oil and gas properties		82,825			101,311
Other property and equipment		20,859			1,970
Less: Accumulated depreciation		(1,313	)		(434	)

Other property and equipment, net		19,546			1,536

Total property, plant and equipment, net	$	1,079,955		$	483,683

Included in the Company's oil and gas properties are asset retirement costs of $11.4 million and $6.3 million at December 31, 2011 and 2010, respectively.

Asset Impairments — As discussed in Note 2, as a result of expiring unproved property leases, the Company recorded non-cash impairment charges on its unproved oil and gas properties of $3.6 million, $12.0 million and $5.4 million for the years ended December 31, 2011, 2010 and 2009, respectively. For the year ended December 31, 2009, the Company also recorded a non-cash impairment charge of $0.8 million on its proved oil and gas properties. No impairment on proved oil and natural gas properties was recorded for the years ended December 31, 2011 and 2010.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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