Asset Retirement Obligations

12 Months Ended

Dec. 31, 2016

Asset Retirement Obligations Disclosure [Abstract]

ASSET RETIREMENT OBLIGATIONS

2. ASSET RETIREMENT OBLIGATIONS:

The Company is required to record the fair value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development and/or normal use of the assets. The following table summarizes the activities for the Company’s asset retirement obligations for the years ended:

	December 31,
	2016			2015
Asset retirement obligations at beginning of period	$	146,210		$	127,240
Accretion expense		10,252			9,122
Liabilities incurred		1,317			7,352
Liabilities settled		(170	)		(1,861	)
Revisions of estimated liabilities		(436	)		4,357
Asset retirement obligations at end of period		157,173			146,210
Less: current asset retirement obligations		(239	)		(305	)
Long-term asset retirement obligations	$	156,934		$	145,905