Property and Equipment

3 Months Ended

Mar. 31, 2016

Property and Equipment

Property and Equipment

5. Property and Equipment

Property and equipment is stated at cost and consisted of the following:

	March 31,		December 31,
	2016		2015
	(In thousands)
Oil and gas properties:
Proved properties	$	1,364,169	$	1,337,215
Unproved properties		731,777		593,510
Support equipment and facilities		1,320,200		1,241,943
Total oil and gas properties		3,416,146		3,172,668
Accumulated depletion		(887,619)		(858,442)
Oil and gas properties, net		2,528,527		2,314,226
Other property		34,800		34,807
Accumulated depreciation		(27,075)		(26,194)
Other property, net		7,725		8,613
Property and equipment, net	$	2,536,252	$	2,322,839

We recorded depletion expense of $29.2 million and $34.7 million for the three months ended March 31, 2016 and 2015, respectively.