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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2023
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,
 20232022
 (In thousands)
Proved oil and gas properties$6,220,766 $5,089,185 
Less: Accumulated depletion(1,035,393)(461,175)
Proved oil and gas properties, net5,185,373 4,628,010 
Unproved oil and gas properties99,477 30,936 
Other property and equipment49,051 72,973 
Less: Accumulated depreciation and impairment(19,223)(20,576)
Other property and equipment, net29,828 52,397 
Total property, plant and equipment, net$5,314,678 $4,711,343 
Impairment
The Company reviews its property, plant and equipment for impairment by asset group whenever events and circumstances indicate that a decline in the recoverability of their carrying value may have occurred. If events occur that indicate an asset group may not be recoverable, the asset group is tested for recoverability.
Proved oil and gas properties. The Company estimates the expected undiscounted future cash flows of its proved oil and gas properties by field and then compares such amount to the carrying amount of the proved oil and gas properties in the applicable field to determine if the carrying amount is recoverable. If the carrying amount exceeds the estimated undiscounted future cash flows, the Company adjusts the carrying amount of the proved oil and gas properties to fair value. The factors used to determine fair value are subject to management’s judgment and expertise and include, but are not limited to, recent sales prices of comparable properties, the present value of future cash flows net of estimated operating and development costs using estimates of proved reserves, future commodity pricing, future production volume estimates, the timing and pace of development, anticipated capital expenditures and various discount rates commensurate with the risk and current market conditions associated with realizing the expected cash flows. These assumptions represent Level 3 inputs, as further discussed under Note 6—Fair Value Measurements. During the year ended December 31, 2023, the Company recorded impairment charges of $5.6 million, primarily related to the Non-core Asset Sales (defined in Note 10—Divestitures). For the years ended 2022 and 2021, the Company did not record impairment of proved oil and gas properties.
Unproved oil and gas properties. For the years ended December 31, 2023, 2022 and 2021, the Company did not record impairment of unproved oil and gas properties.
Other property and equipment. The Company reviews its other property and equipment for impairment whenever events and circumstances indicate that a decline in the recoverability of their carrying value may have occurred. For the years ended December 31, 2023, 2022 and 2021, the Company did not record impairment of other property and equipment.