PROPERTIES AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2013

2. PROPERTIES AND EQUIPMENT, NET

Properties and equipment, net are comprised of the following:

	March 31,			December 31,
(In thousands)	2013			2012

Proved oil and gas properties	$	5,969,544		$	5,724,940
Unproved oil and gas properties	463,455			467,483
Gathering and pipeline systems	239,791			239,656
Land, building and other equipment	88,484			86,137
	6,761,274			6,518,216
Accumulated depreciation, depletion and amortization	(2,348,502		)	(2,207,239		)
	$	4,412,772		$	4,310,977

At March 31, 2013, the Company did not have any projects that had exploratory well costs that were capitalized for a period of greater than one year after drilling.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details