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Supplemental Oil and Gas Disclosures

12 Months Ended

Dec. 31, 2012

Supplemental Oil and Gas Disclosures

17. Supplemental Oil and Gas Disclosures

The supplemental data presented below reflects information for all of the Company’s oil and natural gas producing activities.

Capitalized Costs

The following table sets forth the capitalized costs related to the Company’s oil and natural gas producing activities at December 31, 2012 and 2011:

		December 31,
		2012				2011
		(In thousands)
Proved oil and gas properties		$	2,271,711			$	1,152,532
Less: Accumulated depreciation, depletion, amortization and impairment			(383,564	)			(174,948	)
Proved oil and gas properties, net			1,888,147				977,584
Unproved oil and gas properties			76,417				82,825
Total oil and gas properties, net		$	1,964,564			$	1,060,409

Pursuant to the FASB’s authoritative guidance on ARO, net capitalized costs include asset retirement costs of $20.7 million and $11.4 million at December 31, 2012 and 2011, respectively.

Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development Activities

The following table sets forth costs incurred related to the Company’s oil and natural gas activities for the years ended December 31, 2012, 2011 and 2010:

		Year Ended December 31,
		2012				2011				2010
		(In thousands)
Acquisition costs:
Proved oil and gas properties		$	3,159			$	3,356			$	20,259
Unproved oil and gas properties			34,098				15,197				81,624
Exploration costs			3,250				1,685				297
Development costs			1,074,441				618,737				243,758
Asset retirement costs			9,359				5,055				968
Total costs incurred		$	1,124,307			$	644,030			$	346,906

Results of Operations for Oil and Natural Gas Producing Activities

Results of operations for oil and natural gas producing activities, which excludes straight-line depreciation, general and administrative expenses and interest expense, are presented below.

		Year Ended December 31,
		2012				2011				2010
		(In thousands)
Revenues		$	670,491			$	330,422			$	128,927
Production costs			127,146				67,937				28,350
Depreciation, depletion and amortization			202,398				74,101				37,583
Exploration costs			3,250				1,685				297
Impairment of oil and gas properties			3,581				3,610				11,967
Loss on sale of properties			—				207				—
Income tax expenses			116,941				64,009				17,756
Results of operations for oil and gas producing activities		$	217,175			$	118,873			$	32,974

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- Definition

The entire disclosure for properties used in normal conduct of oil and gas exploration and producing operations. This disclosure may include property 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.

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