ASSET IMPAIRMENT

Impairments recognized by Energen are presented below:



	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2016		2015		2016		2015
Permian Basin oil properties
Central Basin Platform	$	—	$	371,593	$	187,043	$	423,067
Delaware Basin	—		18,653		21,288		22,983
San Juan Basin properties	—		—		7,519		—
Permian Basin unproved leasehold properties	587		9,148		4,722		20,092
San Juan Basin unproved leasehold properties	—		—		40		248
Total asset impairments	$	587	$	399,394	$	220,612	$	466,390

Non-cash impairment writedowns are reflected in asset impairment on the consolidated income statement.

Permian Basin: During the first quarter of 2016, Energen recognized non-cash impairment writedowns in the Permian Basin of $208.3 million to adjust the carrying amount of these properties to their fair value. We estimate future discounted cash flows in determining fair value using commodity assumptions, which are based on the commodity price curve for five years and then escalated at 3 percent through our assumed price cap. Our commodity price assumptions declined in the first quarter of 2016 by approximately 5 percent for oil and 4 percent for natural gas in comparable periods. During the third quarter of 2015, Energen recognized non-cash impairment writedowns of $390.2 million due to commodity price declines. Our commodity price assumptions declined over the third quarter of 2015 by approximately 19 percent for oil and 12 percent for natural gas in comparable periods. During the second quarter of 2015, Energen recognized non-cash impairment writedowns on certain properties in the Central Basin Platform of $51.5 million. Estimated future cash flows were revised due to the receipt of an unsolicited offer for these properties. During the first quarter of 2015, Energen recognized a non-cash impairment writedown of $4.3 million in the Delaware Basin.

In the year-to-date 2016, Energen recognized unproved leasehold writedowns primarily on Permian Basin oil properties in the Delaware Basin and the Central Basin Platform of $4.7 million. Energen recognized unproved leasehold writedowns primarily on Permian Basin oil properties in the Delaware Basin of $20.1 million during the year-to-date 2015.

San Juan Basin: During the first quarter of 2016, Energen recognized non-cash impairment writedowns on held for sale properties in the San Juan Basin of $7.5 million to adjust the carrying amount of these properties to their fair value.