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PROPERTY AND EQUIPMENT | 9 Months Ended
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Sep. 30, 2021
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | PROPERTY AND EQUIPMENT The major categories of property and equipment and related accumulated DD&A and impairment as of September 30, 2021 and December 31, 2020 are as follows:
| Successor |  |  | Predecessor
| September 30, 2021 |  |  | December 31, 2020
Proved oil and natural gas properties | $ | 1,831,762 |  |  |  | $ | 9,359,866 |
Unproved properties | 216,357 |  |  |  | 1,457,043 |
Other depreciable property and equipment | 4,891 |  |  |  | 85,530 |
Land | 386 |  |  |  | 3,008 |
Total property and equipment | 2,053,396 |  |  |  | 10,905,447 |
Accumulated DD&A and impairment | (212,403) |  |  |  | (8,819,178) |
Property and equipment, net | $ | 1,840,993 |  |  |  | $ | 2,086,269 |
Under the full cost method of accounting, the Company is required to perform a ceiling test each quarter. The test determines a limit, or ceiling, on the book value of the Company's oil and natural gas properties. At September 30, 2021, the net book value of the Company's oil and gas properties was below the calculated ceiling for the period leading up to September 30, 2021. As a result, the Company did not record an impairment of its oil and natural gas properties during the third quarter of 2021. The Company recorded impairment charges of $117.8 million for the Current Combined YTD Period. The Company recorded impairments of its oil and natural gas properties of $270.9 million and $1.4 billion for the Prior Predecessor Quarter and the Prior Predecessor YTD Period, respectively, as a result of the significant decrease in commodity prices. Certain general and administrative costs are capitalized to the full cost pool and represent management’s estimate of costs incurred directly related to exploration and development activities. All general and administrative costs not capitalized are charged to expense as they are incurred. Capitalized general and administrative costs were approximately $5.1 million for the Current Successor Quarter, $7.3 million for the Current Successor YTD Period, and $8.0 million for the Current Predecessor YTD Period. Capitalized general and administrative costs were approximately $6.2 million and $19.8 million for the Prior Predecessor Quarter and the Prior Predecessor YTD Period, respectively. The Company evaluates the costs excluded from its amortization calculation at least annually. Individually insignificant unevaluated properties are grouped for evaluation and periodically transferred to evaluated properties over a timeframe consistent with their expected development schedule. The following table summarizes the Company’s unevaluated properties excluded from amortization by area at September 30, 2021:
| Successor
| September 30, 2021
| (In thousands)
Utica | $ | 179,449 |
SCOOP | 36,905 |
Other | 3 |
Total unproved properties | $ | 216,357 |
Impairment of Other Property and Equipment During the Current Predecessor YTD Period, the Company recorded an impairment of $14.6 million related to its corporate headquarters as a result of changes in the expected future use. Asset Retirement Obligation The following table provides a reconciliation of the Company’s asset retirement obligation for the periods presented:
Asset retirement obligation at January 1, 2021 (Predecessor) |  | $ | 63,566 |
Liabilities incurred |  | 546 |
Accretion expense |  | 1,229 |
Ending balance as of May 17, 2021 (Predecessor) |  | $ | 65,341 |
Fresh start adjustments(1) |  | (46,257) |
Asset retirement obligation at May 18, 2021 (Successor) |  | $ | 19,084 |
Liabilities incurred |  | 37 |
Accretion expense |  | 226 |
Asset retirement obligation at June 30, 2021 |  | $ | 19,347 |
Liabilities incurred |  | 19 |
Accretion expense |  | 488 |
Asset retirement obligation at September 30, 2021 |  | $ | 19,854 |
(1) See Note 3 for additional discussion of fresh start adjustments.

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