Asset Retirement Obligations (Tables)

12 Months Ended

Dec. 31, 2020

Asset Retirement Obligation Disclosure [Abstract]

Reconciliation of Beginning and Ending Aggregate Carrying Amounts of Asset Retirement Obligations

The following table presents the balance and activity of the Company’s asset retirement obligations (in thousands):

	Year Ended December 31,
	2020		2019
Beginning balance	$	75,016	$	60,064
Liability incurred upon acquiring and drilling wells	309		2,771
Revisions in estimated cash flows (1)	(17,192)		12,208
Liability settled or disposed in current period	(6,866)		(5,379)
Accretion	5,901		5,352
Ending balance	57,168		75,016
Less: current portion	16,467		22,119
Asset retirement obligations, net of current	$	40,701	$	52,897

____________________

(1)    Revisions for the years ended December 31, 2020 and 2019 relate primarily to changes in estimated well lives due to changes in oil and natural gas prices and changes in plugging cost estimates.