Asset Retirement Obligations

6 Months Ended

Jun. 30, 2022

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

Asset Retirement ObligationsThe 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 six months ended June 30, 2022 (in thousands): 

	2022
Beginning asset retirement obligations	$	15,866
Liabilities incurred	215
Liabilities settled	(475)
Acquisitions	19,165
Accretion expense	1,105
Revision of estimates	69
Ending asset retirement obligations	$	35,945