| Oil and Gas Producing Activities |
| 9. |
Oil and Gas Producing
Activities |
Set forth below is certain information regarding the costs incurred
for oil and gas property acquisition, development and exploration
activities (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the Years Ended
December 31, |
|
| |
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
Property acquisition costs:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unproved properties
|
|
$ |
653 |
|
|
$ |
4,578 |
|
|
$ |
5,857 |
|
|
Proved properties
|
|
|
— |
|
|
|
— |
|
|
|
1,000 |
|
|
Exploration costs
|
|
|
4,439 |
|
|
|
3,831 |
|
|
|
2,238 |
|
|
Development costs (1)
|
|
|
146,237 |
|
|
|
382,995 |
|
|
|
287,898 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total costs incurred
|
|
$ |
151,329 |
|
|
$ |
391,404 |
|
|
$ |
296,993 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
For the years ended December 31,
2015, 2014 and 2013, development costs include $151,000, $898,000
and $584,000, respectively, in non-cash asset retirement
obligations. |
Set forth below is certain information regarding the results of
operations for oil and gas producing activities (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the Years Ended
December 31, |
|
| |
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
Revenues
|
|
$ |
131,336 |
|
|
$ |
258,529 |
|
|
$ |
181,302 |
|
|
Production costs
|
|
|
(40,057 |
) |
|
|
(48,635 |
) |
|
|
(31,992 |
) |
|
Exploration expense
|
|
|
(4,439 |
) |
|
|
(3,831 |
) |
|
|
(2,238 |
) |
|
Depletion
|
|
|
(109,319 |
) |
|
|
(106,802 |
) |
|
|
(76,956 |
) |
|
Impairment of oil and gas properties
|
|
|
(220,197 |
) |
|
|
— |
|
|
|
— |
|
|
Income tax benefit (expense)
|
|
|
86,120 |
|
|
|
(35,387 |
) |
|
|
(24,996 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Results of operations
|
|
$ |
(156,556 |
) |
|
$ |
63,874 |
|
|
$ |
45,120 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|