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PROPERTY AND EQUIPMENT | 9 Months Ended
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Sep. 30, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | PROPERTY AND EQUIPMENT The major categories of property and equipment and related accumulated DD&A are as follows (in thousands):
| September 30, 2023 |  | December 31, 2022
Proved oil and natural gas properties | $ | 2,802,653 |  |  | $ | 2,418,666 |
Unproved properties | 196,947 |  |  | 178,472 |
Other depreciable property and equipment | 7,734 |  |  | 5,977 |
Land | 386 |  |  | 386 |
Total property and equipment | 3,007,720 |  |  | 2,603,501 |
Accumulated DD&A | (784,635) |  |  | (545,771) |
Property and equipment, net | $ | 2,223,085 |  |  | $ | 2,057,730 |
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. The Company did not record an impairment of its oil and natural gas properties for the three or nine months ended September 30, 2023 or 2022. 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 $5.7 million and $16.2 million, for the three and nine months ended September 30, 2023, respectively, and $4.9 million and $14.6 million for the three and nine months ended September 30, 2022, 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 non-producing properties excluded from amortization by area (in thousands):
| September 30, 2023 |  | December 31, 2022
Utica | $ | 169,314 |  |  | $ | 147,370 |
SCOOP | 27,633 |  |  | 31,102 |
Total unproved properties | $ | 196,947 |  |  | $ | 178,472 |
Asset Retirement Obligation The following table provides a reconciliation of the Company’s asset retirement obligation for the nine months ended September 30, 2023 and 2022 (in thousands):
| Nine Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2022
Asset retirement obligation, beginning of period | $ | 33,171 |  |  | $ | 28,264 |
Liabilities incurred | 505 |  |  | 53 |
Liabilities settled | (604) |  |  | — |
Liabilities removed due to divestitures | (919) |  |  | (7) |
Accretion expense | 2,117 |  |  | 2,057 |
Total asset retirement obligation, end of period | $ | 34,270 |  |  | $ | 30,367 |

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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