Properties and Equipment, Net

6 Months Ended

Jun. 30, 2016

Property, Plant and Equipment [Abstract]

Properties and equipment, net are comprised of the following:



(In thousands)	June 30, 2016			December 31, 2015
Proved oil and gas properties	$	7,543,345		$	8,821,146
Unproved oil and gas properties	325,857			390,434
Gathering and pipeline systems	191,848			243,672
Land, building and other equipment	80,397			117,848
	8,141,447			9,573,100
Accumulated depreciation, depletion and amortization	(3,378,767		)	(4,596,221		)
	$	4,762,680		$	4,976,879

At June 30, 2016, the Company did not have any projects that had exploratory well costs capitalized for a period of greater than one year after drilling.

In February 2016, the Company completed the divestiture of certain proved and unproved oil and gas properties in east Texas for approximately $56.4 million and recognized a $0.5 million gain on sale of assets. The purchase price included a $6.3 million deposit that was received in the fourth quarter of 2015.