ASSET IMPAIRMENT

Impairments recognized by Energen are presented below:



	Three months ended March 31,
(in thousands)	2016		2015
Permian Basin oil properties
Central Basin Platform	$	187,043	$	—
Delaware Basin	21,288		4,330
San Juan Basin properties	7,519		—
Permian Basin unproved leasehold properties	4,135		2,005
San Juan Basin unproved leasehold properties	40		248
Total asset impairments	$	220,025	$	6,583

Non-cash impairment writedowns are reflected in asset impairment on the consolidated income statement.

Permian Basin: During the first quarter of 2016, Energen recognized non-cash impairment writedowns in the Permian Basin of $208.3 million to adjust the carrying amount of these properties to their fair value. We estimate future discounted cash flows in determining fair value using commodity assumptions, which are based on the commodity price curve for five years and then escalated at 3 percent through our assumed price cap. Our commodity price assumptions declined over the first quarter by approximately 5 percent for oil and 4 percent for natural gas in comparable periods. During the first quarter of 2015, Energen recognized a non-cash impairment writedown of $4.3 million.

In the first quarter of 2016, Energen recognized unproved leasehold writedowns of $4.1 million primarily on Permian Basin oil properties in the Delaware Basin and the Central Basin Platform. Energen recognized unproved leasehold writedowns primarily on Permian Basin oil properties in the Central Basin Platform of $2.0 million during the first quarter of 2015.

San Juan Basin: During the first quarter of 2016, Energen recognized non-cash impairment writedowns on held for sale properties in the San Juan Basin of $7.5 million to adjust the carrying amount of these properties to their fair value.

During the first quarter of 2016, Energen recognized an insignificant amount of unproved leasehold writedowns on San Juan Basin properties. Energen recognized unproved leasehold writedowns on San Juan Basin properties of $0.2 million during the first quarter of 2015.