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Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Oil And Gas Property [Abstract]

Summary of Oil and Natural Gas Property Costs Not Being Amortized

The following table sets forth a summary of the Company’s oil and natural gas property costs not being amortized at December 31, 2020, by the year in which such costs were incurred (in thousands): 

						Year Ended December 31,
		Total				2020				2019				2018				2017 and Prior
Acquisition United States		$	80,799			$	61,315			$	3,268			$	16,216			$	—
Exploration United States			52,470				12,714				32,698				5,761				1,297
Exploration Mexico			121,725				14,811				61,809				14,362				30,743
Total unproved properties, not subject to amortization		$	254,994			$	88,840			$	97,775			$	36,339			$	32,040

Schedule of Asset Retirement Obligations

Asset Retirement Obligations

The discounted asset retirement obligations included in the Consolidated Balance Sheets in current and non-current liabilities, and the changes in that liability during each of the years ended December 31, 2020 and 2019 were as follows (in thousands):

		Year Ended December 31,
		2020				2019
Asset retirement obligations at January 1		$	369,478			$	382,817
Fair value of asset retirement obligations acquired(1)			44,311				5,047
Obligations settled			(43,933	)			(75,331	)
Fair value of asset retirement obligations divested			(185	)			(5,450	)
Accretion expense			49,741				34,389
Obligations incurred			4,511				4,111
Changes in estimate			18,346				23,895
Asset retirement obligations at December 31		$	442,269			$	369,478
Less: Current portion			(49,921	)			(61,051	)
Long-term portion		$	392,348			$	308,427

⁽¹⁾ Year ended December 31, 2020 includes $35.3 million, $3.3 million and $4.2 million of asset retirement obligations assumed in the ILX and Castex Acquisition, Castex Energy 2005 Acquisition and LLOG Acquisition, respectively.

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- References

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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

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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://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 932
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-10(c)(7)(ii))
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