Property, Plant and Equipment

3 Months Ended

Mar. 31, 2013

Property Plant And Equipment [Abstract]

4. Property, Plant and Equipment

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


	March 31, 2013			December 31, 2012
	(In thousands)
Proved oil and gas properties (1)	$	2,418,598		$	2,271,711
Less: Accumulated depreciation, depletion, amortization and impairment		(433,371	)		(383,564	)

Proved oil and gas properties, net		1,985,227			1,888,147
Unproved oil and gas properties		68,600			76,417

Total oil and gas properties, net		2,053,827			1,964,564
Other property and equipment		136,676			49,732
Less: Accumulated depreciation		(13,295	)		(7,696	)

Other property and equipment, net		123,381			42,036

Total property, plant and equipment, net	$	2,177,208		$	2,006,600

(1)	Included in the Company’s proved oil and gas properties are estimates of future asset retirement costs of $22.5 million and $20.7 million at March 31, 2013 and December 31, 2012, respectively.

As a result of expiring leases and periodic assessments of unproved properties, the Company recorded non-cash impairment charges on its unproved oil and gas properties of $0.5 million and $0.4 million for the three months ended March 31, 2013 and 2012, respectively. No impairment charges on proved oil and natural gas properties were recorded for the three months ended March 31, 2013 or 2012.

- 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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