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Oil and Gas Properties | 6 Months Ended
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Jun. 30, 2015
Extractive Industries [Abstract] |
Oil and Gas Properties | Oil and Gas Properties and Equipment, net Net capitalized costs, utilizing the successful efforts method of accounting, related to our oil and gas producing activities follows:
| Second Quarter-End |  | Year-End
| 2015 |  | 2014
| (In thousands)
Unproved oil and gas properties | $ | 64,653 |  |  | $ | 90,446 |
Proved oil and gas properties | 222,713 |  |  | 221,299 |
Total costs | 287,366 |  |  | 311,745 |
Less: accumulated depreciation, depletion and amortization | (62,901 | ) |  | (48,252 | )
| $ | 224,465 |  |  | $ | 263,493 |
We review unproved oil and gas properties for impairment based on our current exploration plans and proved oil and gas properties by comparing the expected undiscounted future cash flows at a producing field level to the unamortized capitalized cost of the asset. In second quarter 2015, we recognized non-cash impairment charges of $20,903,000 on our unproved leasehold interests and $25,035,000 on our proved properties principally due to a significant decline in oil prices, drilling results, a change in our plans to develop acreage and increased likelihood that these non-core oil and gas assets in Oklahoma, Nebraska and Kansas will be sold. Impairment charges are included in cost of oil and gas producing activities on our income statement. Dry hole costs in first six months 2015 were $9,752,000, which includes a $9,674,000 charge in second quarter 2015 primarily associated with an exploratory well in Oklahoma. In addition, in second quarter 2015 we expensed $917,000 of capitalized costs related to pre-drilling activities associated with non-core oil and gas properties in Oklahoma. In first six months 2015, we recorded a net gain of $854,000 on the sale of 17,168 net mineral acres leased from others in Nebraska and North Dakota and the disposition of 2 gross (1 net) producing oil and gas wells in Nebraska and Oklahoma for total proceeds of $2,524,000.

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- Definition The entire disclosure for properties used in normal conduct of oil and gas exploration and producing operations. This disclosure may include property accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives. + References No definition available. + Details
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