Properties and Equipment, Net

9 Months Ended

Sep. 30, 2018

Property, Plant and Equipment [Abstract]

Properties and equipment, net are comprised of the following:



(In thousands)	September 30, 2018			December 31, 2017
Proved oil and gas properties	$	5,489,836		$	4,932,512
Unproved oil and gas properties	199,219			190,474
Gathering and pipeline systems	1,569			1,569
Land, building and other equipment	86,953			82,670
	5,777,577			5,207,225
Accumulated depreciation, depletion and amortization	(2,411,340		)	(2,135,021		)
	$	3,366,237		$	3,072,204

At September 30, 2018, the Company did not have any projects that had exploratory well costs capitalized for a period of greater than one year after drilling.

Divestitures

In July 2018, the Company sold its operated and non-operated oil and gas properties in the Haynesville Shale for $30.0 million. The sales price included a $5.0 million deposit that was received in the fourth quarter of 2017. During the fourth quarter of 2017, the Company classified these assets as held for sale. The Company recognized a gain on sale of oil and gas properties of $29.5 million.

In February 2018, the Company sold its operated and non-operated Eagle Ford Shale assets for $765.0 million. During the fourth quarter of 2017, the Company classified these assets as held for sale and recorded an impairment charge of $414.3 million associated with the proposed sale of these properties. The Company recognized a loss on sale of oil and gas properties of $45.2 million.