OIL AND GAS INFORMATION (Tables)

12 Months Ended

Dec. 31, 2012

OIL AND GAS INFORMATION

Schedule of costs related to the oil and gas activities incurred

Costs related to the oil and gas activities of the Company were incurred as follows for the years ended December 31:

	2012		2011		2010
	(in thousands)
Property acquisition—unproved	$	—	$	—	$	—
Property acquisition—proved		5,413		509		1,685
Exploration costs		52		8,147		204
Development costs		65,676		63,675		26,220
	$	71,141	$	72,331	$	28,109

Schedule of aggregate capitalized costs relating to the Company's oil and gas activities

The Company had the following aggregate capitalized costs relating to the Company's oil and gas activities at December 31:

	2012		2011
	(in thousands)
Unproved oil and gas properties	$	20,507	$	22,963
Proved oil and gas properties		730,353		657,445
		750,860		680,408
Less accumulated depreciation, depletion, amortization and impairment expense		449,261		404,965
	$	301,599	$	275,443

Schedule of the Company's results of operations from oil and natural gas producing activities

The following table sets forth the Company's results of operations from oil and natural gas producing activities for the years ended December 31:

	2012			2011			2010
	(in thousands)
Revenues	$	121,797		$	103,371		$	88,275
Production costs		(33,072	)		(30,637	)		(28,845	)
Accretion of asset retirement obligation		(1,525	)		(995	)		(820	)
Depreciation, depletion, amortization		(43,460	)		(27,914	)		(20,265	)
Income from oil and gas producing activities	$	43,740		$	43,825		$	38,345

Summary of Warren's oil and gas properties not subject to amortization

The following is a summary of Warren's oil and gas properties not subject to amortization as of December 31, 2012:

	Costs incurred in
	Fiscal year 2012		Fiscal year 2011		Fiscal year 2010		Prior to 2010		Total
	(in thousands)
Acquisition costs	$	—	$	—	$	—	$	834	$	834
Exploration costs		—		60		—		—		60
Development costs(1)		311		161		266		18,875		19,613
Total oil and gas properties not subject to amortization	$	311	$	221	$	266	$	19,709	$	20,507

(1)

The Company's development costs primarily reflect investment in well cellars and facilities in its Wilmington oil field to facilitate the development of future oil wells. These costs will be allocated to future wells drilled, the majority of these wells are expected to be drilling during the next five to eight years.