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Property, Plant and Equipment
 3 Months Ended
Mar. 31, 2014
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
Property, Plant and Equipment

Property, plant and equipment consists of the following (in thousands): 
 
March 31,
2014
 
December 31,
2013
Oil and natural gas properties
 
 
 
Proved(1)
$
10,443,534

 
$
10,972,816

Unproved
292,459

 
531,606

Total oil and natural gas properties
10,735,993

 
11,504,422

Less accumulated depreciation, depletion and impairment
(6,043,109
)
 
(5,762,969
)
Net oil and natural gas properties capitalized costs
4,692,884

 
5,741,453

Land
18,404

 
18,423

Non-oil and natural gas equipment(2)
602,706

 
600,603

Buildings and structures(3)
237,578

 
233,405

Total
858,688

 
852,431

Less accumulated depreciation and amortization
(299,346
)
 
(286,209
)
Other property, plant and equipment, net
559,342

 
566,222

Total property, plant and equipment, net
$
5,252,226

 
$
6,307,675

____________________
(1)
Includes cumulative capitalized interest of approximately $25.9 million and $23.4 million at March 31, 2014 and December 31, 2013, respectively.
(2)
Includes cumulative capitalized interest of approximately $4.3 million at both March 31, 2014 and December 31, 2013.
(3)
Includes cumulative capitalized interest of approximately $13.4 million and $12.0 million at March 31, 2014 and December 31, 2013, respectively.

Accumulated depreciation, depletion and impairment on oil and natural gas properties includes cumulative full cost ceiling limitation impairment of $3.7 billion and $3.5 billion at March 31, 2014 and December 31, 2013, respectively. During the three-month period ended March 31, 2014, the Company reduced the net carrying value of its oil and natural gas properties by $164.8 million as a result of its quarterly full cost ceiling analysis.

Century Plant Construction Costs

Included in proved oil and natural gas properties is approximately $180.0 million of costs in excess of contracted and reimbursed amounts incurred by the Company during construction of the Century Plant in Pecos County, Texas pursuant to an agreement with Occidental. Due to the high-CO2 content of the Company’s reserves in the Piñon Field and the absence of adequate processing capacity in the Piñon Field area, construction of a large-scale processing facility, such as the Century Plant, was necessary for the development of the Company’s natural gas reserves in that area. The Company entered into the construction agreement and a related treating agreement with Occidental solely to facilitate the development of its reserves in the Piñon Field and greater West Texas Overthrust area and, accordingly, has recorded these unreimbursed costs as development costs within its full cost pool. See Note 11 for discussion of the related treating agreement.

Drilling Carry Commitments

The Company has agreements with two partners, which contain drilling carry commitments to fund a portion of its future drilling and completion costs within areas of mutual interest. The Company recorded approximately $72.3 million for Repsol E&P USA, Inc.’s (“Repsol”) drilling carry during the three-month period ended March 31, 2014, and a combined $123.3 million for both Atinum MidCon I, LLC’s and Repsol’s drilling carries during the three-month periods ended March 31, 2013, which reduced the Company’s capital expenditures for the respective periods. Atinum MidCon I, LLC fully funded its drilling carry commitment in the third quarter of 2013. Under the agreement with Repsol, the remaining drilling carry commitment may be reduced if a certain number of wells are not drilled within the area of mutual interest during a 12-month period. However, the Company expects Repsol to fully fund its drilling carry commitment during 2014.