Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net (Tables)

v3.20.2
Property and Equipment, Net (Tables)
 9 Months Ended
Sep. 30, 2020
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
As of September 30, 2020 and December 31, 2019, total property and equipment, net consisted of the following:
September 30, 2020 December 31, 2019
Oil and natural gas properties, full cost accounting method (In thousands)
Evaluated properties $7,775,858  $7,203,482 
Accumulated depreciation, depletion, amortization and impairments (4,859,316) (2,520,488)
Net evaluated oil and natural gas properties 2,916,542  4,682,994 
Unevaluated properties
Unevaluated leasehold and seismic costs 1,574,451  1,843,725 
Capitalized interest 183,681  142,399 
Total unevaluated properties 1,758,132  1,986,124 
Total oil and natural gas properties, net $4,674,674  $6,669,118 
Other property and equipment $66,365  $67,202 
Accumulated depreciation (33,445) (31,949)
Other property and equipment, net $32,920  $35,253 
Schedule of Impairment of Evaluated Oil and Gas Properties
Three Months Ended September 30, Nine Months Ended September 30,
2020 2019 2020 2019
Impairment of evaluated oil and gas properties (in thousands) $684,956 $— $1,961,474 $—
Beginning of period 12-Month Average Realized Price ($/Bbl) $45.87 $53.00 $53.90 $58.40
End of period 12-Month Average Realized Price ($/Bbl) $41.71 $52.44 $41.71 $52.44
Percent decrease in 12-Month Average Realized Price (9  %) (1  %) (23  %) (10  %)