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Property and Equipment
 3 Months Ended
Mar. 31, 2017
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,

 

 

 

2017

 

2016

 

 

 

(In thousands)

 

Oil and gas properties:

 

 

 

 

 

 

 

Proved properties

 

$

1,375,364

 

$

1,385,331

 

Unproved properties

 

 

592,275

 

 

919,056

 

Support equipment and facilities

 

 

1,392,365

 

 

1,386,448

 

Total oil and gas properties

 

 

3,360,004

 

 

3,690,835

 

Accumulated depletion

 

 

(1,022,432)

 

 

(989,946)

 

Oil and gas properties, net

 

 

2,337,572

 

 

2,700,889

 

 

 

 

 

 

 

 

 

Other property

 

 

37,287

 

 

37,186

 

Accumulated depreciation

 

 

(30,026)

 

 

(29,183)

 

Other property, net

 

 

7,261

 

 

8,003

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

$

2,344,833

 

$

2,708,892

 

 

We recorded depletion expense of $32.5 million and $29.2 million for the three months ended March 31, 2017 and 2016, respectively.