Asset Retirement Obligations

3 Months Ended

Mar. 31, 2017

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

Note 10. 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, (in thousands):  

	2017		2016
Beginning asset retirement obligations	$	6,013	$	5,075
Liabilities incurred		1		4
Accretion expense		152		128
Revision of estimates		20		(12	)
Ending asset retirement obligations	$	6,186	$	5,195