Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.22.1
Property and Equipment, Net
3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
As of March 31, 2022 and December 31, 2021, total property and equipment, net consisted of the following:
March 31, 2022 December 31, 2021
Oil and natural gas properties, full cost accounting method (In thousands)
Evaluated properties $9,412,921  $9,238,823 
Accumulated depreciation, depletion, amortization and impairments (5,986,765) (5,886,002)
Evaluated properties, net 3,426,156  3,352,821 
Unevaluated properties
Unevaluated leasehold and seismic costs 1,567,076  1,557,453 
Capitalized interest 280,714  255,374 
Total unevaluated properties 1,847,790  1,812,827 
Total oil and natural gas properties, net $5,273,946  $5,165,648 
Other property and equipment $59,428  $58,367 
Accumulated depreciation (30,443) (30,239)
Other property and equipment, net $28,985  $28,128 
The Company capitalized internal costs of employee compensation and benefits, including share-based compensation, directly associated with acquisition, exploration and development activities totaling $11.6 million and $11.2 million for the three months ended March 31, 2022 and 2021, respectively.
The Company capitalized interest costs to unproved properties totaling $25.5 million and $24.0 million for the three months ended March 31, 2022 and 2021, respectively.