Asset Retirement Obligations

9 Months Ended

Sep. 30, 2019

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 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 nine months ended September 30,(in thousands): 

	2019
Beginning asset retirement obligations	$	2,229
Liabilities incurred	43
Liabilities settled	(179		)
Accretion expense	160
Ending asset retirement obligations	$	2,253