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Oil and Gas Properties (Tables)
12 Months Ended
Dec. 31, 2016
Oil And Gas Properties And Equipment Tables [Abstract]  
Capitalized Costs Relating to Oil and Gas Producing Activities

 

 

 

December 31,

2016

 

 

December 31,

2015

 

Proven Properties:

 

 

 

 

 

 

 

 

Acquisition, equipment, exploration, drilling and

   environmental costs

 

$

10,752,642

 

 

$

10,480,165

 

Less: Accumulated depletion, depreciation and

   amortization(1)

 

 

(9,742,176

)

 

 

(9,629,020

)

 

 

 

1,010,466

 

 

 

851,145

 

(1)

During 2015, the Company recorded a $3.1 billion non-cash write-down of the carrying value of the Company’s proved oil and gas properties as a result of ceiling test limitations, which is reflected within ceiling test and other impairments in the accompanying Consolidated Statements of Operations. The ceiling test was calculated based upon the average of quoted market prices in effect on the first day of the month for the preceding twelve month period at December 31, 2015 for Henry Hub natural gas and West Texas Intermediate oil, adjusted for market differentials.