Property, Plant and Equipment
|12 Months Ended|
Dec. 31, 2017
|Property, Plant and Equipment [Abstract]|
|Property, Plant and Equipment||
NOTE 5 — PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment is comprised of fixed assets and oil and natural gas properties, as shown below (in thousands):
Depreciation and depletion expense for the years ended December 31, 2017, and 2016 was approximately $0.5 million and $0.1 million, respectively.
Oil and Natural Gas Properties
Tellurian has acquired producing and non-producing acreage in northern Louisiana. For more information about these properties, please see “Supplemental Disclosures about Natural Gas Producing Activities.”
In connection with the Merger, the Company acquired interests in certain unproved properties in the Weald Basin, United Kingdom and the Bonaparte Basin, Australia. In the United Kingdom, Tellurian holds non-operating interests in two licenses which expire in June and September 2021, respectively. In Australia, Tellurian holds an operating interest in an exploration permit which expires in May 2019.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://www.xbrl.org/2003/role/presentationRef