Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net (Tables)

v3.20.2
Property and Equipment, Net (Tables)
 6 Months Ended
Jun. 30, 2020
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
As of June 30, 2020 and December 31, 2019, total property and equipment, net consisted of the following:
June 30, 2020 December 31, 2019
Oil and natural gas properties, full cost accounting method (In thousands)
Evaluated properties $7,840,616    $7,203,482   
Accumulated depreciation, depletion, amortization and impairments (4,062,660)   (2,520,488)  
Net evaluated oil and natural gas properties 3,777,956    4,682,994   
Unevaluated properties
Unevaluated leasehold and seismic costs 1,596,662    1,843,725   
Capitalized interest 166,198    142,399   
Total unevaluated properties 1,762,860    1,986,124   
Total oil and natural gas properties, net $5,540,816    $6,669,118   
Other property and equipment $67,883    $67,202   
Accumulated depreciation (35,439)   (31,949)  
Other property and equipment, net $32,444    $35,253   
Schedule of Impairment of Evaluated Oil and Gas Properties
Three Months Ended June 30,
2020 2019
Impairment of evaluated oil and gas properties (in thousands) $1,276,518    $—   
Beginning of period 12-Month Average Realized Price ($/Bbl) $54.63    $54.58   
End of period 12-Month Average Realized Price ($/Bbl) $45.87    $53.00   
Percent decrease in 12-Month Average Realized Price (16  %) (3  %)