Properties and Equipment

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Line Items]

Property, Plant and Equipment Disclosure

NOTE 6 - PROPERTIES AND EQUIPMENT, NET

The following table presents the components of properties and equipment, net of accumulated depreciation, depletion and amortization (“DD&A”) as of the dates indicated:

	June 30, 2022		December 31, 2021
	(in thousands)
Properties and equipment, net:
Crude oil and natural gas properties
Proved	$	10,729,089	$	8,310,018
Unproved	285,926		306,181
Total crude oil and natural gas properties	11,015,015		8,616,199
Equipment and other	76,505		63,099
Land and buildings	25,406		19,928
Construction in progress	567,100		371,968
Properties and equipment, at cost	11,684,026		9,071,194
Accumulated DD&A	(4,596,254)		(4,256,329)
Properties and equipment, net	$	7,087,772	$	4,814,865

Impairment of Oil and Gas Properties. There were no significant impairment charges recognized related to our proved and unproved properties during the six months ended June 30, 2022 and 2021.

Suspended Well Costs. The following table presents the capitalized exploratory well cost pending determination of proved reserves and included in properties and equipment for the periods presented:

	Six Months Ended June 30, 2022		Year Ended December 31, 2021
	(in thousands, except for number of wells)
Beginning balance	$	—	$	7,459
Additions to capitalized exploratory well costs pending the determination of proved reserves	9,613		5,902
Reclassifications to proved properties	—		(13,361)
Ending balance	$	9,613	$	—
Number of wells pending determination at period-end	1		—

As of June 30, 2022, there were no exploratory well costs that were capitalized for more than one year.