Property and Equipment

9 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment is stated at cost and consisted of the following:

	September 30, 2019			December 31, 2018
	(In thousands)
Oil and gas properties:
Proved properties	$	4,827,304		$	4,236,489
Unproved properties	898,855			759,472
Total oil and gas properties	5,726,159			4,995,961
Accumulated depletion	(1,945,170		)	(1,551,097		)
Oil and gas properties, net	3,780,989			3,444,864
Other property	59,515			51,987
Accumulated depreciation	(41,468		)	(37,150		)
Other property, net	18,047			14,837
Property and equipment, net	$	3,799,036		$	3,459,701

We recorded depletion expense of $139.1 million and $76.8 million for the three months ended September 30, 2019 and 2018, respectively, and $394.1 million and $199.7 million for the nine months ended September 30, 2019 and 2018, respectively. The increase to oil and gas properties from 2018 to 2019 primarily relates to proportionate consolidation resulting from the unwind of our equity method investment in KTIPI. See Note 7 — Equity Method Investments for additional information.