Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2015

The following is a detailed breakout of our “Property and Equipment” balances:



(in thousands)	March 31, 2015			December 31, 2014
Property and Equipment
Proved oil and gas properties	$	5,850,175		$	5,826,995
Unproved oil and gas properties	64,577			64,903
Furniture, fixtures, and other equipment	44,088			42,257
Less – Accumulated depreciation, depletion, and amortization	(4,402,460		)	(3,839,118		)
Property and Equipment, Net	$	1,556,380		$	2,095,037

Accounts Payable and Accrued Liabilities

The “Accounts payable and accrued liabilities” balances on the accompanying condensed consolidated balance sheets are summarized below (in thousands):



	March 31, 2015		December 31, 2014
Trade accounts payable (1)	$	43,912	$	31,153
Accrued operating expenses	7,699		10,784
Accrued compensation costs	6,080		8,715
Asset retirement obligation – current portion	6,879		10,709
Accrued taxes	3,897		2,957
Other payables	5,082		3,926
Total accounts payable and accrued liabilities	$	73,549	$	68,244

(1) Included in “trade accounts payable” are liabilities of approximately $35.7 million and $13.7 million at March 31, 2015 and December 31, 2014, respectively, for outstanding checks.