Asset Retirement Obligations

9 Months Ended

Sep. 30, 2011

Asset Retirement Obligations [Abstract]

Note 4 – Asset Retirement Obligations

Our asset retirement obligations relate to obligations for the future plugging and abandonment of oil and gas properties. The following table provides a rollforward of our asset retirement obligations for the nine months ended September 30, 2011 and 2010:

		Nine Months Ended
		September 30,
		2011		2010
Carrying amount of asset retirement obligations as of beginning of period	$	42,997	$	47,362
Accretion expense (included in DD&A expense)		3,472		3,444
Impact of foreign currency exchange rate changes		833		(1,379)
Payment of asset retirement obligations		(12,616)		(3,012)
Reduction in asset retirement obligations		-		(1,812)
Carrying amount of asset retirement obligations as of end of period		34,686		44,603
Less: Current portion		(6,480)		(2,588)
Long-term asset retirement obligations	$	28,206	$	42,015