(8) Oil and Gas Properties

The following table sets forth information concerning the Company’s oil and gas properties (in thousands):



	March 31,		December 31,
	2017		2016
Oil and gas properties	$	5,373	$	5,315
Unevaluated properties		48		106
Accumulated depreciation, depletion, and amortization		(401)		(196)
Oil and gas properties	$	5,020	$	5,225

The Company recorded depletion expense of $204,000 and $302,000 for the three months ended March 31, 2017 and 2016, respectively. During the three months ended March 31, 2017, the Company also recorded in “Accumulated depreciation, depletion, and amortization” a $1,000 gain on asset retirement obligations. In addition, during the three months ended March 31, 2016, the Company recorded an impairment of oil and gas properties in the amount of $641,000, but recorded no impairment for the three months ended March 31, 2017. As a result of the ceiling test impairments during 2015 and the first three quarters of 2016, the accumulated depreciation, depletion, and amortization was been netted against the cost to reflect the post impairment value of the oil and gas properties. As no ceiling test impairment was recorded during the quarters ended December 31, 2016 and March 31, 2107, this amount was not netted against cost, but remained in accumulated depreciation, depletion, and amortization at December 31, 2016 and March 31, 2017.