Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net (Tables)

v3.21.1
Property and Equipment, Net (Tables)
3 Months Ended
Mar. 31, 2021
Property, Plant and Equipment [Abstract]  
Schedule of property and equipment
As of March 31, 2021 and December 31, 2020, total property and equipment, net consisted of the following:
March 31, 2021 December 31, 2020
Oil and natural gas properties, full cost accounting method (In thousands)
Evaluated properties $8,001,847  $7,894,513 
Accumulated depreciation, depletion, amortization and impairments (5,607,508) (5,538,803)
Evaluated properties, net 2,394,339  2,355,710 
Unevaluated properties
Unevaluated leasehold and seismic costs 1,530,897  1,532,304 
Capitalized interest 223,871  200,946 
Total unevaluated properties 1,754,768  1,733,250 
Total oil and natural gas properties, net $4,149,107  $4,088,960 
Other property and equipment $60,388  $60,287 
Accumulated depreciation (28,953) (28,647)
Other property and equipment, net $31,435  $31,640 
Schedule of impairment of evaluated oil and gas properties The Company also did not recognize an impairment of evaluated oil and gas properties for the three months ended March 31, 2020.
Details of the average realized prices for sales of oil on the first calendar day of each month during the trailing 12-month period (“12-Month Average Realized Price”) of crude oil for the three months ended March 31, 2021 and 2020 are summarized in the table below:
Three Months Ended March 31,
2021 2020
Impairment of evaluated oil and gas properties (in thousands) $— $—
Beginning of period 12-Month Average Realized Price ($/Bbl) $37.44 $53.90
End of period 12-Month Average Realized Price ($/Bbl) $37.51 $54.63
Percent increase in 12-Month Average Realized Price —  % %