Property, Plant and Equipment

9 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

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



	September 30, 2014			December 31, 2013
	(In thousands)
Proved oil and gas properties⁽¹⁾	$	4,717,065		$	3,713,525
Less: Accumulated depreciation, depletion, amortization and impairment	(890,785		)	(612,380		)
Proved oil and gas properties, net	3,826,280			3,101,145
Unproved oil and gas properties	829,359			815,433
Total oil and gas properties, net	4,655,639			3,916,578
Other property and equipment	261,665			188,468
Less: Accumulated depreciation	(42,452		)	(25,296		)
Other property and equipment, net	219,213			163,172
Total property, plant and equipment, net	$	4,874,852		$	4,079,750

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(1)	Included in the Company’s proved oil and gas properties are estimates of future asset retirement costs of $36.4 million and $32.6 million at September 30, 2014 and December 31, 2013, 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 natural gas properties of $1.4 million and $2.2 million for the three and nine months ended September 30, 2014, respectively, and $0.1 million and $0.8 million for the three and nine months ended September 30, 2013, respectively. No impairment charges on proved oil and natural gas properties were recorded for the three and nine months ended September 30, 2014 or 2013.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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