Property and Equipment

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

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

	June 30, 2024		December 31, 2023
	(In thousands)
Oil and gas properties:
Proved properties	$	8,113,221	$	7,600,252
Unproved properties	482,460		423,050
Total oil and gas properties	8,595,681		8,023,302
Accumulated depletion	(4,042,252)		(3,868,946)
Oil and gas properties, net	4,553,429		4,154,356
Other property	65,488		65,095
Accumulated depreciation	(60,604)		(59,222)
Other property, net	4,884		5,873
Property and equipment, net	$	4,558,313	$	4,160,229

We recorded depletion expense of $81.1 million and $82.0 million for the three months ended June 30, 2024 and 2023, respectively, and $173.3 million and $183.6 million for the six months ended June 30, 2024 and 2023, respectively. During the six months ended June 30, 2024, additions to our proved properties primarily related to continued infill development in the Jubilee Field in Ghana, development costs associated with the Greater Tortue Ahmeyim project in Mauritania/Senegal, and the Winterfell development project and Odd Job Field subsea pump installation in the U.S. Gulf of Mexico.