Property, Plant and Equipment

9 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Property, plant and equipment consists of the following (in thousands):


	September 30, 2019		December 31, 2018
Oil and natural gas properties
Proved	$	1,455,609	$	1,269,091
Unproved	26,107		60,152
Total oil and natural gas properties	1,481,716		1,329,243
Less accumulated depreciation, depletion and impairment	(855,765)		(580,132)
Net oil and natural gas properties	625,951		749,111

Land	4,400		4,400
Electrical infrastructure	126,482		131,176
Other non-oil and natural gas equipment	13,083		13,458
Buildings and structures	77,148		77,148
Financing leases	2,305		—
Total	223,418		226,182
Less accumulated depreciation and amortization	(32,138)		(25,344)
Other property, plant and equipment, net	191,280		200,838
Total property, plant and equipment, net	$	817,231	$	949,949

Impairments. The Company recorded impairment to its oil and natural gas properties of $165.5 million during the three and nine-month periods ended September 30, 2019 as a result of its quarterly full cost ceiling test.

Nonmonetary transaction. The Company utilized the income approach to estimate discounted cash flows as the basis for determining the fair value of proved properties divested in nonmonetary transactions. See Note 2.

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 nine-month period ended September 30, 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 September 30, 2019 or December 31, 2018.