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Asset Acquisition and Assets Held for Sale
12 Months Ended
Dec. 31, 2017
Business Combinations [Abstract]  
Asset Acquisition and Assets Held for Sale
Note 2. Asset Acquisition and Assets Held for Sale

Asset Acquisition

On June 30, 2017, we acquired a 23% non-operated working interest in Salt Creek Field in Wyoming for cash consideration of approximately $71.5 million, before customary closing adjustments. The transaction was accounted for as an asset acquisition in accordance with ASU 2017-01. Therefore, the acquired interests were recorded based upon the cash consideration paid, with all value assigned to proved oil and natural gas properties.

Assets Held for Sale

We began actively marketing for sale certain non-productive surface acreage in the Houston area during July 2017, which we currently anticipate selling during 2018. As of December 31, 2017, the carrying value of the land held for sale was $33.1 million, which is included in “Other property and equipment” on our Consolidated Balance Sheets.