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ASSET RETIREMENT OBLIGATIONS
 6 Months Ended
Sep. 30, 2020
Restatement of previously issued financial statements  
ASSET RETIREMENT OBLIGATIONS

 

NOTE 8 – ASSET RETIREMENT OBLIGATIONS

 

The following table presents the reconciliation of the beginning and ending aggregate carrying amounts of long-term legal obligations associated with the future retirement of oil and natural gas properties for the six-month periods ended September 30, 2020, and 2019, respectively.

 

 

 

2020

 

 

2019

 

Carrying amount at beginning of period

 

 $ 71,750

 

 

 $ 303,809

 

Panhandle Settlement

 

 

 (30,227 )

 

 

 —

 

Payments

 

 

 —

 

 

 

 —

 

Accretion

 

 

 —

 

 

 

 2

 

Revisions of previous estimates

 

 

 4,260

 

 

 

 8,258

 

Carrying amount at end of period

 

 $ 45,783

 

 

 $ 312,069

 

 

Camber has short-term obligations of $25,766 and $30,277 related to the plugging liabilities at September 30, 2020, and March 31, 2020, respectively.