| 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, |
|
|
|
|
2017 |
|
|
2016 |
|
|
2015 |
|
|
Property acquisition costs: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Unproved properties |
|
$ |
231 |
|
|
$ |
17 |
|
|
$ |
653 |
|
|
Proved properties(1) |
|
|
17,331 |
|
|
|
— |
|
|
|
— |
|
|
Exploration costs |
|
|
3,657 |
|
|
|
3,923 |
|
|
|
4,439 |
|
|
Development costs(2) |
|
|
43,202 |
|
|
|
15,884 |
|
|
|
146,237 |
|
|
Total costs incurred |
|
$ |
64,421 |
|
|
$ |
19,824 |
|
|
$ |
151,329 |
|
|
|
(1) |
For the year ended December 31, 2017, acquisition costs of proved properties included the fair value of assets acquired in the Bolt-On Acquisition. See Note 2 for additional disclosures related to the Bolt-On Acquisition. |
|
|
(2) |
For the years ended December 31, 2017, 2016 and 2015, development costs included $39,000, $36,000 and $151,000, 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, |
|
|
|
|
2017 |
|
|
2016 |
|
|
2015 |
|
|
Revenues |
|
$ |
105,349 |
|
|
$ |
90,302 |
|
|
$ |
131,336 |
|
|
Production costs |
|
|
(26,546 |
) |
|
|
(27,467 |
) |
|
|
(40,057 |
) |
|
Exploration expense |
|
|
(3,657 |
) |
|
|
(3,923 |
) |
|
|
(4,439 |
) |
|
Depletion |
|
|
(70,521 |
) |
|
|
(79,044 |
) |
|
|
(109,319 |
) |
|
Impairment of oil and gas properties |
|
|
— |
|
|
|
— |
|
|
|
(220,197 |
) |
|
Income tax benefit (expense) |
|
|
(1,641 |
) |
|
|
7,144 |
|
|
|
86,120 |
|
|
Results of operations |
|
$ |
2,984 |
|
|
$ |
(12,988 |
) |
|
$ |
(156,556 |
) |
|