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Supplemental Oil and Gas Disclosures

12 Months Ended

Dec. 31, 2015

Oil and Gas Exploration and Production Industries Disclosures [Abstract]

Supplemental Oil and Gas Disclosures

Supplemental Oil and Gas Disclosures

The supplemental data presented below reflects information for all of the Company’s oil and natural gas producing activities.

Capitalized Costs

The following table sets forth the capitalized costs related to the Company’s oil and natural gas producing activities at December 31, 2015 and 2014:

	December 31,
	2015(1)				2014
	(In thousands)
Proved oil and gas properties(2)	$	5,655,759			$	5,156,875
Less: Accumulated depreciation, depletion, amortization and impairment	(1,428,427		)		(1,043,121		)
Proved oil and gas properties, net	4,227,332				4,113,754
Unproved oil and gas properties	628,642				809,265
Total oil and gas properties, net	$	4,855,974			$	4,923,019

__________________ 

(1) At December 31, 2015, oil and gas properties exclude capitalized costs related to certain non-core assets that were held for sale (see Note 7 — Assets Held for Sale).

(2) Included in the Company’s proved oil and gas properties are estimates of future asset retirement costs of $30.7 million and $36.9 million at December 31, 2015 and 2014, 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, 2015, 2014 and 2013:

	Year Ended December 31,
	2015				2014				2013
	(In thousands)
Acquisition costs:
Proved oil and gas properties	$	28,737			$	37,048			$	752,454
Unproved oil and gas properties	3,226				30,891				837,419
Exploration costs	2,369				3,064				2,260
Development costs	433,735				1,437,923				890,267
Asset retirement costs	1,474				6,278				11,856
Total costs incurred	$	469,541			$	1,515,204			$	2,494,256

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,
	2015				2014				2013
	(In thousands)
Revenues	$	721,672			$	1,304,004			$	1,084,412
Production costs	245,675				326,381				221,095
Depreciation, depletion and amortization	472,800				400,118				298,999
Exploration costs	2,369				3,064				2,260
Rig termination	3,895				—				—
Impairment of oil and gas properties	46,109				47,238				1,168
Income tax expense (benefit)	(18,382		)		197,701				196,312
Results of operations for oil and natural gas producing activities	$	(30,794	)		$	329,502			$	364,578

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- Definition

The entire disclosure for properties used in normal conduct of oil and gas exploration and producing operations. This disclosure may include property 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.

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