Asset Retirement Obligations

3 Months Ended

Mar. 31, 2022

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 three months ended March 31, 2022 (in thousands): 

	2022
Beginning asset retirement obligations	$	15,866
Liabilities incurred	54
Liabilities settled	(201)
Acquisitions	5,971
Accretion expense	397
Revision of estimates	31
Ending asset retirement obligations	$	22,118