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Acquisition and Disposition of Properties
9 Months Ended
Sep. 30, 2014
Business Acquisitions and Dispositions [Abstract]  
Acquisition and Disposition of Properties
ACQUISITION AND DISPOSITION OF PROPERTIES

During the third quarter of 2014, Energen recognized a non-cash impairment writedown on certain properties in the Permian Basin of $31.2 million pre-tax to adjust the carrying amount of these properties to their fair value based on expected future discounted cash flows in anticipation of being designated as held for sale. This non-cash impairment writedown is reflected in asset impairment on the consolidated income statement.

During the third quarter of 2014, a non-cash impairment writedown of $147.9 million pre-tax was recognized by Energen on certain gas properties in the San Juan Basin to adjust the carrying amount of these properties to their fair value based on expected future discounted cash flows in anticipation of being designated as held for sale. This non-cash impairment writedown is reflected in asset impairment on the consolidated income statement. At December 31, 2013, proved reserves associated with Energen’s San Juan Basin properties totaled 73,070 MBOE.
 
In October 2014, Energen purchased approximately 15,000 net acres of unproved leasehold in the Mancos formation oil play in the San Juan Basin for $22.8 million.