Year Ended December 31, 2016 vs. 2015 Years Ended December 31, Increase 2016 2015 (Decrease) (In thousands) Revenues and other income: Oil and gas revenue . . . . . . . . . . . . . . . . . . . . $ 310,377 $ 446,696 $(136,319) Gain on sale of assets . . . . . . . . . . . . . . . . . . — 24,651 (24,651) Other income . . . . . . . . . . . . . . . . . . . . . . . . 74,978 209 74,769 Total revenues and other income . . . . . . . . . 385,355 471,556 (86,201) Costs and expenses: Oil and gas production . . . . . . . . . . . . . . . . . 119,367 105,336 14,031 Facilities insurance modifications . . . . . . . . . . 14,961 — 14,961 Exploration expenses . . . . . . . . . . . . . . . . . . . 202,280 156,203 46,077 General and administrative . . . . . . . . . . . . . . 87,623 136,809 (49,186) Depletion and depreciation . . . . . . . . . . . . . . 140,404 155,966 (15,562) Interest and other financing costs, net . . . . . . 44,147 37,209 6,938 Derivatives, net . . . . . . . . . . . . . . . . . . . . . . . 48,021 (210,649) 258,670 Other expenses, net . . . . . . . . . . . . . . . . . . . . 23,116 5,246 17,870 Total costs and expenses . . . . . . . . . . . . . . . 679,919 386,120 293,799 Income (loss) before income taxes . . . . . . . . . . . (294,564) 85,436 (380,000) Income tax expense (benefit) . . . . . . . . . . . . . (10,784) 155,272 (166,056) Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(283,780) $ (69,836) $(213,944) Oil and gas revenue. Oil and gas revenue decreased by $136.3 million as a result of seven cargos sold during the year ended December 31, 2016 as compared to nine cargos during the year ended December 31, 2015, and as a result of a lower realized price per barrel. We lifted and sold 6,756 MBbl at an average realized price per barrel of $45.94 in 2016 and 8,538 MBbl at an average realized price per barrel of $52.32 in 2015. Gain on sale of assets. During the year ended December 31, 2015, we closed a farm-out agreement with Chevron. As part of the transaction, we received proceeds in excess of our book basis, resulting in a gain of $24.7 million. Other income. During the year ended December 31, 2016, we recognized $74.8 million of LOPI proceeds related to the turret bearing issue on the Jubilee FPSO. Oil and gas production. Oil and gas production costs increased by $14.0 million during the year ended December 31, 2016 as compared to the year ended December 31, 2015. The 2016 costs were impacted by increased costs associated with the new operating procedures related to the turret bearing issue while the 2015 costs were impacted by higher workover costs in the Jubilee Field. Facilities insurance modifications. During the year ended December 31, 2016, we incurred $15.0 million of facilities modification costs associated with the long-term solution to convert the FPSO to a permanently spread moored facility which we expect to substantially recover from our insurance policy. Exploration expenses. Exploration expenses increased by $46.1 million during the year ended December 31, 2016, as compared to the year ended December 31, 2015. The increase is primarily a result of $107.7 million of stacked rig costs in 2016 and an increase of $31.5 million in seismic and geological and geophysical costs partially mitigated by $94.0 million of unsuccessful well costs in 2015 primarily for the Western Sahara CB-1 exploration well. 88