Quarterly report pursuant to Section 13 or 15(d)

Oil and natural gas properties, net of accumulated impairment (under successful efforts accounting)

v3.7.0.1
Oil and natural gas properties, net of accumulated impairment (under successful efforts accounting)
6 Months Ended
Jun. 30, 2017
Extractive Industries [Abstract]  
Oil and natural gas properties, net of accumulated impairment (under successful efforts accounting)
Oil and natural gas properties, net of accumulated impairment (under successful efforts accounting)

Oil and natural gas properties are comprised of the following: 
 
June 30,
2017
 
December 31, 2016
Proved property
$
9,702,938

 
$
9,695,367

Unproved property
$
1,375,940

 
$
1,375,940

Total oil and natural gas properties, at cost
$
11,078,878

 
$
11,071,307

Less: accumulated impairment
$
(8,283,321
)
 
$
(8,283,321
)
Oil and natural gas properties, net of impairment
$
2,795,557

 
$
2,787,986

Less: accumulated depletion
(2,214,709
)
 
(2,166,643
)
Oil and natural gas properties, net
$
580,848

 
$
621,343


 
Depletion and accretion expense for the three months ended June 30, 2017 and 2016 was $26,295 and $26,651, respectively, and $49,720 and $73,054 for the six months ended June 30, 2017 and 2016, respectively. During the three and six months ended June 30, 2017 and 2016, the Company recorded no impairment losses.