Schedule of property and equipment |
As of September 30, 2021 and December 31, 2020, total property and equipment, net consisted of the following:
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September 30, 2021 |
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December 31, 2020 |
Oil and natural gas properties, full cost accounting method |
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(In thousands) |
Evaluated properties |
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$8,341,434 |
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$7,894,513 |
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Accumulated depreciation, depletion, amortization and impairments |
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(5,775,833) |
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(5,538,803) |
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Evaluated properties, net |
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2,565,601 |
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2,355,710 |
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Unevaluated properties |
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Unevaluated leasehold and seismic costs |
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1,453,255 |
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1,532,304 |
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Capitalized interest |
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259,173 |
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200,946 |
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Total unevaluated properties |
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1,712,428 |
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1,733,250 |
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Total oil and natural gas properties, net |
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$4,278,029 |
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$4,088,960 |
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Other property and equipment |
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$60,396 |
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$60,287 |
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Accumulated depreciation |
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(29,805) |
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(28,647) |
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Other property and equipment, net |
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$30,591 |
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$31,640 |
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Schedule of impairment of evaluated oil and gas properties |
Details of the 12-Month Average Realized Price of crude oil for the three and nine months ended September 30, 2021 and 2020 are summarized in the table below:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2021 |
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2020 |
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2021 |
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2020 |
Impairment of evaluated oil and gas properties (in thousands) |
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$— |
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$684,956 |
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$— |
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$1,961,474 |
Beginning of period 12-Month Average Realized Price ($/Bbl) |
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$48.06 |
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$45.87 |
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$37.44 |
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$53.90 |
End of period 12-Month Average Realized Price ($/Bbl) |
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$56.47 |
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$41.71 |
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$56.47 |
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$41.71 |
Percent increase (decrease) in 12-Month Average Realized Price |
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17 |
% |
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(9 |
%) |
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51 |
% |
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(23 |
%) |
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