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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2014
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment The following table sets forth the Company’s property, plant and equipment:
| December 31,
| 2014 |  | 2013
| (In thousands)
Proved oil and gas properties(1) | $ | 5,156,875 |  |  | $ | 3,713,525 |
Less: Accumulated depreciation, depletion, amortization and impairment | (1,043,121 | ) |  | (612,380 | )
Proved oil and gas properties, net | 4,113,754 |  |  | 3,101,145 |
Unproved oil and gas properties | 809,265 |  |  | 815,433 |
Other property and equipment | 313,439 |  |  | 188,468 |
Less: Accumulated depreciation | (49,672 | ) |  | (25,296 | )
Other property and equipment, net | 263,767 |  |  | 163,172 |
Total property, plant and equipment, net | $ | 5,186,786 |  |  | $ | 4,079,750 |
__________________
(1) | Included in the Company’s proved oil and gas properties are estimates of future asset retirement costs of $36.9 million and $32.6 million at December 31, 2014 and 2013, respectively.
Asset impairments. As discussed in Note 2, as a result of lower expected future oil prices, the Company reviewed its proved oil and natural gas properties as of December 31, 2014 and determined that the carrying value exceeded expected undiscounted cash flows for certain legacy wells that have been producing from conventional reservoirs such as the Madison, Red River and other formations in the Williston Basin other than the Bakken or Three Forks formations. The Company recorded an impairment loss of $40.0 million in its exploration and production segment to adjust the carrying amount of these assets to fair value. The fair value of these assets was measured using valuation techniques that convert future cash flows to a single discounted amount. Significant inputs used to determine the fair value included estimates of: (i) reserves, (ii) future operating and development costs, (iii) future commodity prices, and (iv) a weighted average cost of capital rate based on the assumptions of a market participant. The market-based weighted average cost of capital rate is subjected to additional project-specific risking factors. The underlying commodity prices embedded in the Company’s estimated cash flows were determined using the five-year NYMEX forward price curve as of December 31, 2014. No impairment of proved oil and natural gas properties was recorded for the years ended December 31, 2013 and 2012. In addition, 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 $7.3 million, $1.2 million, and $3.6 million for the years ended December 31, 2014, 2013 and 2012, respectively.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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