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