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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2018
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment consists of the following (in thousands):
| December 31, |  |
| 2018 |  | 2017
Oil and natural gas properties |  |  |
Proved | $ | 1,269,091 |  | $ | 1,056,806
Unproved | 60,152 |  | 100,884
Total oil and natural gas properties | 1,329,243 |  | 1,157,690
Less accumulated depreciation, depletion and impairment | (580,132) |  | (460,431)
Net oil and natural gas properties capitalized costs | 749,111 |  | 697,259
Land | 4,400 |  | 4,500
Electrical infrastructure | 131,176 |  | 131,010
Non-oil and natural gas equipment | 13,458 |  | 26,809
Buildings and structures | 77,148 |  | 79,548
Total | 226,182 |  | 241,867
Less accumulated depreciation and amortization | (25,344) |  | (15,886)
Other property, plant and equipment, net | 200,838 |  | 225,981
Total property, plant and equipment, net | $ | 949,949 |  | $ | 923,240
The average rates used for depreciation and depletion of oil and natural gas properties were $10.32 per Boe in 2018, $7.92 per Boe in 2017, $8.31 per Boe in the Successor 2016 Period and $6.05 per Boe in the Predecessor 2016 Period. See Note 8 for discussion of impairment of other property, plant and equipment. The Company had approximately $10.6 million in assets classified as held for sale in the other current assets line of the accompanying consolidated balance sheet at December 31, 2017. Approximately $9.3 million of this total was related to one of the Company’s properties located in downtown Oklahoma City, OK, which was classified as held for sale in the fourth quarter of 2017 and sold during the second quarter of 2018 for a net amount of approximately $10.4 million, including transaction fees. The resulting gain of $1.1 million was recorded in other operating expense on the accompanying condensed consolidated statements of operations for the year ended December 31, 2018. Additionally, during the first quarter of 2018, the Company classified its remaining midstream generator assets as held for sale. These assets had a carrying value of $5.7 million which exceeded the estimated net realizable value of $1.6 million based on expected sales prices obtained from third parties. As a result, the Company recorded an impairment of $4.1 million for the year ended December 31, 2018. The midstream generator assets were sold during the second quarter of 2018 with no gain or loss recognized on the sale. No significant assets were classified as held for sale at December 31, 2018. Costs Excluded from Amortization The following table summarizes the costs, by year incurred, related to unproved properties, which were excluded from oil and natural gas properties subject to amortization at December 31, 2018 (in thousands):
|  |  | Year Cost Incurred |  |  |  |  |  |
| Total |  | 2018 |  | 2017 |  | 2016 |  | 2015 and Prior
Property acquisition | $ | 59,522 |  | $ | 3,859 |  | $ | 20,647 |  | $ | 13,735 |  | $ | 21,281
Exploration | 630 |  | 13 |  | 323 |  | 243 |  | 51
Total costs incurred | $ | 60,152 |  | $ | 3,872 |  | $ | 20,970 |  | $ | 13,978 |  | $ | 21,332
For leases that do not have existing production that would otherwise extend the lease term, the Company estimates that any associated unproved costs will be evaluated and transferred to the amortization base of the full cost pool within a three to five year period from the original lease date. For leases that are held by production, the Company estimates that any associated unproved costs will be evaluated and transferred to the amortization base of the full cost pool within a 10-year period from the original lease date. In addition, the Company’s internal engineers evaluate all properties on a quarterly basis.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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