Asset Retirement Obligation

3 Months Ended

Mar. 31, 2012

Asset Retirement Obligation [Abstract]

Note 9 — Asset Retirement Obligation

Following are reconciliations of the beginning and ending asset retirement obligation for the following periods (in thousands):


	Three Months Ended March 31,
	2012			2011
Asset retirement obligation, beginning of period	$	168,517		$	166,858
Liabilities incurred		–			1,268
Liabilities settled		(278	)		(3,461	)
Accretion of asset retirement obligation		3,804			3,664
Changes in estimates		63			627

Total asset retirement obligation		172,106			168,956
Less current portion		(53,047	)		(41,955	)

Total long-term asset retirement obligation, end of period	$	119,059		$	127,001

- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

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