Property and Equipment
|9 Months Ended|
Sep. 30, 2021
|Property, Plant and Equipment [Abstract]|
|Property, Plant and Equipment Disclosure||Property and Equipment
The following table summarizes our property and equipment as of the dates presented:
Unproved property costs of $59.6 million and $49.9 million have been excluded from amortization as of September 30, 2021 and December 31, 2020, respectively. An additional $1.2 million of costs, associated with wells in-progress for which we had not previously recognized any proved undeveloped reserves, were excluded from amortization as of December 31, 2020. We transferred $13.8 million and $4.5 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, 2021 and 2020, respectively. We capitalized internal costs of $2.8 million and $1.3 million and interest of $2.6 million and $2.1 million during the nine months ended September 30, 2021 and 2020, respectively, in accordance with our accounting policies. Average depreciation, depletion and amortization per barrel of oil equivalent of proved oil and gas properties was $12.96 and $16.63 for the nine months ended September 30, 2021 and 2020, respectively.
At the end of each quarterly reporting period, the unamortized cost of our oil and gas properties, net of deferred income taxes, is limited to the sum of the estimated after-tax discounted future net revenues from proved properties adjusted for costs excluded from amortization (the “Ceiling Test”). During the three and nine months ended September 30, 2021, the Company recorded zero and a $1.8 million impairment of its oil and gas properties, respectively. During the three and nine months ended September 30, 2020, the Company recorded impairments of its oil and gas properties of $236.0 million and $271.5 million, respectively.
The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef