Oil and Gas Properties and Equipment

6 Months Ended

Jun. 30, 2015

Oil And Gas Properties And Equipment [Abstract]

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

2. OIL AND GAS PROPERTIES AND EQUIPMENT:
		June 30,		December 31,
		2015		2014
Proven Properties:
Acquisition, equipment, exploration, drilling and environmental costs	$	10,006,940	$	9,731,407
Less: Accumulated depletion, depreciation and amortization(1)		(6,275,565)		(6,094,764)
		3,731,375		3,636,643
Unproven Properties:
Acquisition and exploration costs not being amortized(1)		240,598		242,294
Net capitalized costs - oil and gas properties	$	3,971,973	$	3,878,937

⁽¹⁾For the six months ended June 30,2015 and 2014, total interest on outstanding debt was $91.7 million and $65.3 million, respectively, of which, $6.4 million and $10.9 million, respectively, was capitalized on the cost of unproven oil and natural gas properties and on work in process relating to gathering systems.