Asset Retirement Obligations

3 Months Ended

Mar. 31, 2018

8. Asset Retirement Obligations

Asset Retirement Obligations (“AROs”) represent the estimated future abandonment costs of tangible assets, such as wells, service assets and other facilities. The estimated fair value of the AROs at inception are capitalized as part of the carrying amount of the related long-lived assets.The following table reflects the changes in the Company’s AROs for the periods presented (in thousands):

	Three Months Ended March 31,
	2018			2017
Asset retirement obligations — beginning of period	$	15,506		$	14,200
Liabilities incurred	113			90
Revisions	—			—
Liabilities settled	(1		)	(30		)
Liabilities eliminated through asset sales	(62		)	—
Current period accretion expense	297			276

Asset retirement obligations — end of period	$	15,853		$	14,536