Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Property, Plant and Equipment

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


	September 30, 2012			December 31, 2011
	(In thousands)
Proved oil and gas properties (1)	$	2,004,433		$	1,152,532
Less: Accumulated depreciation, depletion, amortization and impairment		(314,787	)		(174,948	)

Proved oil and gas properties, net		1,689,646			977,584
Unproved oil and gas properties		74,583			82,825

Oil and gas properties, net		1,764,229			1,060,409
Other property and equipment		45,261			20,859
Less: Accumulated depreciation		(5,691	)		(1,313	)

Other property and equipment, net		39,570			19,546

Total property, plant and equipment, net	$	1,803,799		$	1,079,955

(1)

Included in the Company’s proved oil and gas properties are estimates of future asset retirement costs of $18.5 million and $11.4 million at September 30, 2012 and December 31, 2011, respectively. In addition, the Company’s proved oil and gas properties include cumulative capitalized interest of $5.6 million and $3.1 million at September 30, 2012 and December 31, 2011, respectively.

- Definition

Tabular disclosure of the useful life and salvage value of 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.

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