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Property, Plant and Equipment
 12 Months Ended
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.