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Capitalization of Interest
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3 Months Ended |
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Mar. 31, 2014
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| Capitalization of Interest |
7. CAPITALIZATION OF INTEREST
The Company capitalizes interest costs to oil and natural gas properties on expenditures made in connection with exploration and development projects that are not subject to current depletion. Interest is capitalized only for the period that activities are in progress to bring these projects to their intended use. For the three months ended March 31, 2014, the Company incurred interest expense of $0.2 million in connection with our IFC loan. The entire expense was capitalized in the period. The Company did not have any capitalized interest in 2013. |