ASSET IMPAIRMENT

Impairments recognized by Energen are presented below:



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2017		2016		2017		2016
Permian Basin oil properties
Central Basin Platform	$	—	$	—	$	1,096	$	187,043
Delaware Basin	—		—		—		21,288
San Juan Basin properties	—		—		—		7,519
Permian Basin unproved leasehold properties	29		—		393		4,135
San Juan Basin unproved leasehold properties	—		—		—		40
Total asset impairments	$	29	$	—	$	1,489	$	220,025

Non-cash impairment writedowns are reflected in asset impairment on the consolidated statements of operations.

Permian Basin: During the first quarter of 2017, Energen recognized non-cash impairment writedowns in the Permian Basin of $1.1 million to adjust the carrying amount of these properties to their fair value. 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.

In the year-to-date 2017, Energen recognized unproved leasehold writedowns primarily on Permian Basin oil properties of $0.4 million. Energen recognized unproved leasehold writedowns primarily on Permian Basin oil properties in the Delaware Basin and the Central Basin Platform of $4.1 million in the first quarter of 2016.

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.