XML 71 R45.htm IDEA: XBRL DOCUMENT v2.4.1.9
Supplemental Oil and Gas Disclosures (Tables)
 12 Months Ended
Dec. 31, 2014
Oil and Gas Exploration and Production Industries Disclosures [Abstract]  
Capitalized Costs Related to Oil and Natural Gas Producing Activities
The following table sets forth the capitalized costs related to the Company’s oil and natural gas producing activities at December 31, 2014 and 2013:
 
 
December 31,
 
2014
 
2013(1)
 
(In thousands)
Proved oil and gas properties(2)
$
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

Total oil and gas properties, net
$
4,923,019

 
$
3,916,578


__________________ 
(1)
At December 31, 2013, oil and gas properties exclude capitalized costs related to certain assets in and around the Company’s Sanish project area, which were held for sale.
(2)
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.
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, 2014, 2013 and 2012:
 
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
(In thousands)
Acquisition costs:
 
 
 
 
 
Proved oil and gas properties
$
37,048

 
$
752,454

 
$
3,159

Unproved oil and gas properties
30,891

 
837,419

 
34,098

Exploration costs
3,064

 
2,260

 
3,250

Development costs
1,437,923

 
890,267

 
1,074,441

Asset retirement costs
6,278

 
11,856

 
9,359

Total costs incurred
$
1,515,204

 
$
2,494,256

 
$
1,124,307
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,
 
2014
 
2013
 
2012
 
(In thousands)
Revenues
$
1,304,004

 
$
1,084,412

 
$
670,491

Production costs
326,381

 
221,095

 
127,146

Depreciation, depletion and amortization
400,118

 
298,999

 
202,398

Exploration costs
3,064

 
2,260

 
3,250

Impairment of oil and gas properties
47,238

 
1,168

 
3,581

Income tax expense
197,701

 
196,312

 
116,941

Results of operations for oil and natural gas producing activities
$
329,502

 
$
364,578

 
$
217,175