Asset Retirement Obligations

3 Months Ended

Mar. 31, 2019

9. 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,
	2019		2018
Asset retirement obligations — beginning of period	$	8,087	$	15,506
Liabilities incurred		—		113
Revisions		—		—
Liabilities settled		—		(1)
Liabilities eliminated through asset sales		—		(62)
Current period accretion expense		157		297
Asset retirement obligations — end of period	$	8,244	$	15,853