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Property, Plant and Equipment | 6 Months Ended
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Jun. 30, 2017
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:
| June 30, 2017 |  | December 31, 2016
| (In thousands)
Proved oil and gas properties(1) | $ | 6,671,833 |  |  | $ | 6,476,833 |
Less: accumulated depreciation, depletion, amortization and impairment | (2,130,330 | ) |  | (1,886,732 | )
Proved oil and gas properties, net | 4,541,503 |  |  | 4,590,101 |
Unproved oil and gas properties | 816,242 |  |  | 819,735 |
Other property and equipment | 695,592 |  |  | 618,790 |
Less: accumulated depreciation | (122,323 | ) |  | (109,059 | )
Other property and equipment, net | 573,269 |  |  | 509,731 |
Total property, plant and equipment, net | $ | 5,931,014 |  |  | $ | 5,919,567 |
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(1) | Included in the Company’s proved oil and gas properties are estimates of future asset retirement costs of $43.3 million and $42.9 million at June 30, 2017 and December 31, 2016, respectively.
Midstream assets acquisition. On April 25, 2017, the Company completed purchase and sale agreements with two undisclosed private sellers to acquire certain midstream assets in McKenzie County, North Dakota for total consideration of $12.7 million, which includes $4.9 million of installment notes payable. Based on the FASB’s authoritative guidance, the acquisition qualified as a business combination, and as such, the Company estimated the fair value of the assets acquired as of the acquisition date. The Company recorded the assets acquired at their estimated fair value of $12.7 million, which the Company considers to be representative of the price paid by a typical market participant. This measurement resulted in no goodwill or bargain purchase being recognized. The results of operations for the acquisition have been included in the Company’s condensed consolidated financial statements since the closing date. Pro forma information is not presented as the pro forma results would not be materially different from the information presented in the Company’s Condensed Consolidated Statement of Operations.

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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 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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