XML 40 R22.htm IDEA: XBRL DOCUMENT v3.19.1
Asset Retirement Obligations
 12 Months Ended
Dec. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations
Asset Retirement Obligations
The Company has asset retirement obligations associated with the future plugging and abandonment of oil and natural gas properties and related facilities. Revisions to the liability typically occur due to changes in the estimated abandonment costs, well economic lives, and the discount rate.
The following table summarizes the Company’s asset retirement obligation transactions recorded during the years ended December 31, 2018 and 2017 (in thousands):
 
 
2018
 
2017
Beginning asset retirement obligations
$
2,354

 
$
6,013

Liabilities acquired (1)
298

 
359

Liabilities incurred
102

 
77

Property dispositions (1)
(766
)
 
(4,401
)
Liabilities settled
(79
)
 
(9
)
Accretion expense
169

 
434

Revision of estimates
151

 
(119
)
Ending asset retirement obligations
$
2,229

 
$
2,354

(1)
See Note 3. Acquisitions and Divestitures for additional information on the Company's acquisition and property disposition activities.