Property and Equipment, Net
|3 Months Ended|
Mar. 31, 2020
|Property, Plant and Equipment [Abstract]|
|Property and Equipment, Net||Property and Equipment, Net
As of March 31, 2020 and December 31, 2019, total property and equipment, net consisted of the following:
The Company capitalized internal costs of employee compensation and benefits, including stock-based compensation, directly associated with acquisition, exploration and development activities totaling $7.5 million and $10.7 million for the three months endedMarch 31, 2020 and 2019, respectively. The Company capitalized interest costs to unproved properties totaling $24.0 million and $19.8 million for the three months ended March 31, 2020 and 2019, respectively. As a result of the recent downturn in the oil and gas industry as well as in the broader macroeconomic environment, the Company analyzed its unevaluated leasehold giving consideration to its updated exploration program as well as to the remaining lease term of certain unevaluated leaseholds. The Company transferred $180.5 million from unevaluated leasehold to evaluated properties during the three months ended March 31, 2020 primarily as a result of the analysis described above.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef