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Property, Plant and Equipment | 9 Months Ended
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Sep. 30, 2013
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment consists of the following (in thousands):
| September 30, 2013 |  | December 31, 2012
Oil and natural gas properties |  |  |
Proved(1) | $ | 10,663,810 |  |  | $ | 12,262,921 |
Unproved | 529,032 |  |  | 865,863 |
Total oil and natural gas properties | 11,192,842 |  |  | 13,128,784 |
Less accumulated depreciation, depletion and impairment | (5,643,158 | ) |  | (5,231,182 | )
Net oil and natural gas properties capitalized costs | 5,549,684 |  |  | 7,897,602 |
Land | 18,423 |  |  | 17,927 |
Non-oil and natural gas equipment(2) | 610,740 |  |  | 643,370 |
Buildings and structures(3) | 230,508 |  |  | 205,349 |
Total | 859,671 |  |  | 866,646 |
Less accumulated depreciation and amortization | (283,281 | ) |  | (284,271 | )
Other property, plant and equipment, net | 576,390 |  |  | 582,375 |
Total property, plant and equipment, net | $ | 6,126,074 |  |  | $ | 8,479,977 |
____________________
(1) | Includes cumulative capitalized interest of approximately $20.7 million and $11.7 million at September 30, 2013 and December 31, 2012, respectively.
(2) | Includes cumulative capitalized interest of approximately $4.3 million at both September 30, 2013 and December 31, 2012.
(3) | Includes cumulative capitalized interest of approximately $10.7 million and $7.1 million at September 30, 2013 and December 31, 2012, respectively.
During the second and third quarters of 2013, the Company committed to plans to sell various drilling and corporate assets. These assets are included in other current assets in the accompanying unaudited condensed consolidated balance sheet at September 30, 2013 as the Company intends to sell the assets within a year. The net book value of the drilling assets was adjusted to fair value, resulting in impairments of $0.5 million and $11.1 million during the three and nine-month periods ended September 30, 2013, respectively, and a combined remaining net book value of $6.2 million at September 30, 2013. Fair value for the drilling assets was estimated based on the most recent offers received from third parties with consideration of current market conditions. Based on the limited market activity for a majority of these assets, the valuation is considered Level 3 under the fair value hierarchy, as described in Note 4. The net book value of the corporate asset was adjusted to fair value, resulting in an impairment of $2.9 million during the nine-month period ended September 30, 2013 and remaining net book value of $17.0 million. The fair value of the corporate asset was based on a current offer from a third-party purchaser, which is considered a Level 3 input. In the second and third quarters of 2013, the Company evaluated certain midstream pipe inventory, natural gas compressors and a compressor station for impairment after determining that their future use was limited. As a result of these evaluations, the Company recorded impairments of $0.2 million and $2.3 million during the three and nine-month periods ended September 30, 2013, respectively, on these assets to reduce their carrying value to market value.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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