Property And Equipment, Net

6 Months Ended

Jun. 30, 2015

Property, Plant and Equipment [Abstract]

4. Property and Equipment, Net

As of June 30, 2015 and December 31, 2014, total property and equipment, net consisted of the following:



	June 30, 2015			December 31, 2014
	(In thousands)
Proved properties		$3,550,822			$3,174,268
Accumulated depreciation, depletion and amortization	(1,238,775		)	(1,087,541		)
Proved properties, net	2,312,047			2,086,727
Unproved properties, not being amortized
Unevaluated leasehold and seismic costs	382,953			401,954
Exploratory wells in progress	59,485			71,402
Capitalized interest	62,208			61,841
Total unproved properties, not being amortized	504,646			535,197
Other property and equipment	17,190			16,017
Accumulated depreciation	(9,438		)	(8,688		)
Other property and equipment, net	7,752			7,329
Total property and equipment, net		$2,824,445			$2,629,253

Capitalized oil and gas property costs within a cost center are amortized on an equivalent unit-of-production method, converting natural gas to barrels of oil equivalent at the ratio of six thousand cubic feet of gas to one barrel of oil, which represents their approximate relative energy content. Average depreciation, depletion and amortization (“DD&A”) per Boe of proved properties was $23.81 and $26.34 for the three months ended June 30, 2015 and 2014, respectively, and $23.63 and $26.49 for the six months ended June 30, 2015 and 2014, respectively.

The Company capitalized internal costs of employee compensation and benefits, including stock-based compensation, directly associated with acquisition, exploration and development activities totaling $5.1 million and $5.3 million for the three months ended June 30, 2015 and 2014, respectively, and $10.9 million and $10.7 million for the six months ended June 30, 2015 and 2014, respectively.

Unproved properties, not being amortized, include unevaluated leasehold and seismic costs associated with specific unevaluated properties, the cost of exploratory wells in progress and related capitalized interest. The Company capitalized interest costs associated with its unproved properties totaling $9.0 million and $8.6 million for the three months ended June 30, 2015 and 2014, respectively, and $18.7 million and $16.3 million for the six months ended June 30, 2015 and 2014, respectively.