Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.8.0.1
Property and Equipment
9 Months Ended
Sep. 30, 2017
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and Equipment
The following table summarizes our property and equipment as of the dates presented: 
 
September 30,
 
December 31,
 
2017
 
2016
Oil and gas properties:
 

 
 

Proved
$
369,384

 
$
251,083

Unproved
147,594

 
4,719

Total oil and gas properties
516,978

 
255,802

Other property and equipment
12,484

 
3,575

Total properties and equipment
529,462

 
259,377

Accumulated depreciation, depletion and amortization
(43,402
)
 
(11,904
)
 
$
486,060

 
$
247,473


Unproved property costs of $147.6 million and $4.7 million have been excluded from amortization as of September 30, 2017 and December 31, 2016, respectively. We transferred $1.9 million of undeveloped leasehold costs associated with acreage unlikely to be drilled or associated with proved undeveloped reserves, including capitalized interest, from unproved properties to the full cost pool during the nine months ended September 30, 2017. We capitalized internal costs of $1.6 million and interest of $0.1 million during the nine months ended September 30, 2017 in accordance with our accounting policies. Average depreciation, depletion and amortization (“DD&A”) per barrel of oil equivalent of proved oil and gas properties was $11.93 for the nine months ended September 30, 2017, $10.04 for the Predecessor period from January 1, 2016 through September 12, 2016 and $11.09 for the Successor period from September 13, 2016 through September 30, 2016. The DD&A rate for the Predecessor period was determined under the successful efforts method while the Successor periods subsequent to September 12, 2016 were determined under the full cost method (see Note 2).