Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment (Tables)

v3.10.0.1
Property and Equipment (Tables)
9 Months Ended
Sep. 30, 2018
Property and Equipment  
Schedule of property and equipment

 

 

 

 

 

 

 

 

 

    

September 30, 2018

    

December 31, 2017

Oil and gas properties, on the basis of full-cost accounting:

 

 

 

 

 

 

Proved properties

 

$

803,841

 

$

765,308

Unproved properties not being amortized

 

 

4,505

 

 

7,065

Other property and equipment

 

 

6,369

 

 

6,508

Less accumulated depreciation, depletion, amortization and impairment

 

 

(251,432)

 

 

(204,419)

Net property and equipment

 

$

563,283

 

$

574,462

 

Schedule of costs incurred in oil and natural gas property acquisition, exploration and development activities

The Company capitalizes internal costs directly related to exploration and development activities to oil and gas properties. During the three and nine months ended September 30, 2018 and 2017, the Company capitalized the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

    

2018

    

2017

    

2018

    

2017

Internal costs capitalized to oil and gas properties (1)

 

$

821

 

$

1,651

 

$

2,638

 

$

4,656


(1)

Inclusive of $0.3 million and $0.8 million of qualifying share-based compensation expense for the three months ended September 30, 2018 and 2017, respectively. For the nine months ended September 30, 2018 and 2017, inclusive of $0.8 million and $2.0 million, respectively, of qualifying share-based compensation expense.

 

Schedule of depletion expense related to oil and gas properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Three Months Ended

 

Nine Months Ended

 

Nine Months Ended

 

 

September, 30,

 

September, 30,

 

September 30,

 

September 30,

 

    

2018

    

2017

    

2018

    

2017

    

2018

    

2017

    

2018

    

2017

 

 

(in thousands)

 

(per Boe)

 

(in thousands)

 

(per Boe)

Depletion expense

 

$

14,913

 

$

14,575

 

$

9.01

 

$

7.42

 

$

45,433

 

$

44,695

 

$

8.81

 

$

7.29

Depreciation on other property and equipment

 

 

572

 

 

595

 

 

0.35

 

 

0.30

 

 

1,749

 

 

1,776

 

 

0.34

 

 

0.29

Depreciation, depletion, and amortization

 

$

15,485

 

$

15,170

 

$

9.36

 

$

7.72

 

$

47,182

 

$

46,471

 

$

9.15

 

$

7.58