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PROPERTY AND EQUIPMENT (Tables) | 3 Months Ended
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Mar. 31, 2019
Property, Plant and Equipment [Abstract] |
Schedule of property and equipment | The major categories of property and equipment and related accumulated depletion, depreciation, amortization and impairment as of March 31, 2019 and December 31, 2018 are as follows:
| March 31, 2019 |  | December 31, 2018
| (In thousands)
Oil and natural gas properties | $ | 10,312,124 |  |  | $ | 10,026,836 |
Office furniture and fixtures | 46,118 |  |  | 42,581 |
Building | 44,565 |  |  | 44,565 |
Land | 5,521 |  |  | 5,521 |
Total property and equipment | 10,408,328 |  |  | 10,119,503 |
Accumulated depletion, depreciation, amortization and impairment | (4,757,814 | ) |  | (4,640,098 | )
Property and equipment, net | $ | 5,650,514 |  |  | $ | 5,479,405 |
Summary of non-producing properties excluded from amortization by area | The following table summarizes the Company’s non-producing properties excluded from amortization by area at March 31, 2019:
| March 31, 2019
| (In thousands)
Utica | $ | 1,493,746 |
MidContinent | 1,382,118 |
Niobrara | 451 |
Southern Louisiana | 586 |
Bakken | 100 |
| $ | 2,877,001 |
Schedule of asset retirement obligation | A reconciliation of the Company’s asset retirement obligation for the three months ended March 31, 2019 and 2018 is as follows:
| March 31, 2019 |  | March 31, 2018
| (In thousands)
Asset retirement obligation, beginning of period | $ | 79,952 |  |  | $ | 75,100 |
Liabilities incurred | 969 |  |  | 329 |
Liabilities settled | (71 | ) |  | (99 | )
Accretion expense | 1,067 |  |  | 1,004 |
Revisions in estimated cash flows | 983 |  |  | 53 |
Asset retirement obligation as of end of period | 82,900 |  |  | 76,387 |
Less current portion | — |  |  | 120 |
Asset retirement obligation, long-term | $ | 82,900 |  |  | $ | 76,267 |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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- Definition Tabular disclosure of the carrying amount of a liability for asset retirement obligations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 + Details
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- Definition Tabular disclosure of the capitalized costs of unproved properties and major development projects that are excluded from capitalized costs being amortized. This includes the total costs excluded and, at a minimum, these categories of costs: acquisition costs, exploration costs, development costs in the case of significant development projects, and capitalized interest. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-10(a)(32)) -URI http://asc.fasb.org/extlink&oid=82851474&loc=d3e511914-122862 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-10(c)(7)(ii)) -URI http://asc.fasb.org/extlink&oid=82851474&loc=d3e511914-122862 + Details
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