Oil and Gas Properties and Equipment

3 Months Ended

Mar. 31, 2014

Oil And Gas Properties And Equipment [Abstract]

Oil and Gas Exploration and Production Industries Disclosures [Text Block]

2. OIL AND GAS PROPERTIES AND EQUIPMENT:
		March 31,		December 31,
		2014		2013
Proven Properties:
Acquisition, equipment, exploration, drilling and environmental costs	$	7,946,938	$	7,817,374
Less: Accumulated depletion, depreciation and amortization(1)		(5,868,583)		(5,808,836)
Net capitalized costs - oil and gas properties		2,078,355		2,008,538
Unproven Properties:
Acquisition and exploration costs not being amortized(1)		410,264		413,073
	$	2,488,619	$	2,421,611
Property, Plant and Equipment:
Gathering Systems(1)	$	295,481	$	294,356
Less: Accumulated depreciation		(105,696)		(105,246)
		189,785		189,110
Other Property and Equipment		15,776		15,198
Less: Accumulated depreciation		(10,058)		(9,758)
		5,718		5,440
Land		22,359		22,359
Net capitalized costs - property, plant and equipment	$	217,862	$	216,909

⁽¹⁾For the three months ended March 31,2014 and 2013, total interest on outstanding debt was $32.7 million and $26.0 million, respectively, of which, $5.6 million and $0.2 million, respectively, was capitalized on the cost of unevaluated oil and natural gas properties and on work in process relating to gathering systems.