Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net

v3.19.3.a.u2
Property and Equipment, Net
12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
As of December 31, 2019 and 2018, total property and equipment, net consisted of the following:
 
 
As of December 31,
 
 
2019
 
2018
Oil and natural gas properties, full cost accounting method
 
(In thousands)
Evaluated properties
 

$7,203,482

 

$4,585,020

Accumulated depreciation, depletion, amortization and impairments
 
(2,520,488
)
 
(2,270,675
)
Net evaluated oil and natural gas properties
 
4,682,994

 
2,314,345

Unevaluated properties
 
 
 
 
Unevaluated leasehold and seismic costs
 
1,843,725

 
1,316,190

Capitalized interest
 
142,399

 
88,323

Total unevaluated properties
 
1,986,124

 
1,404,513

Total oil and natural gas properties, net
 

$6,669,118

 

$3,718,858

 
 
 
 
 
Other property and equipment
 

$67,202

 

$38,463

Accumulated depreciation
 
(31,949
)
 
(16,562
)
Other property and equipment, net
 

$35,253

 

$21,901


The Company capitalized internal costs of employee compensation and benefits, including stock-based compensation, directly associated with acquisition, exploration and development activities totaling $36.2 million, $28.0 million and $20.3 million for the years ended December 31, 2019, 2018 and 2017, respectively. The Company capitalized interest costs to unproved properties totaling $78.5 million, $56.2 million and $33.8 million for the years ended December 31, 2019, 2018 and 2017, respectively.
Unevaluated property costs not subject to amortization as of December 31, 2019 consisted of the following:
 
 
2019
 
2018
 
2017
 
2016
 
Total
 
 
(In thousands)
Acquisition costs
 

$682,413

 

$383,238

 

$577,959

 

$115,833

 

$1,759,443

Exploration costs
 
43,174

 
22,384

 
18,724

 

 
84,282

Capitalized interest
 
78,492

 
56,151

 
7,756

 

 
142,399

Total unevaluated properties
 

$804,079

 

$461,773

 

$604,439

 

$115,833

 

$1,986,124