Asset Retirement Obligations

12 Months Ended

Dec. 31, 2021

Asset Retirement Obligations

Asset Retirement Obligations

Note 6. Asset Retirement Obligations

The Company’s asset retirement obligations primarily relate to the Company’s portion of future plugging and abandonment of wells and related facilities. The following table presents the changes in the asset retirement obligations for the years ended December 31, 2021 and 2020 (in thousands):

	For the Year Ended
	December 31,
	2021		2020
Asset retirement obligations at beginning of period	$	97,149	$	91,089
Liabilities added from acquisition or drilling		29		79
Liabilities settled		(296)		(327)
Liabilities removed upon sale of wells		(113)		—
Accretion expense		6,611		6,206
Revision of estimates		34		102
Asset retirement obligation at end of period		103,414		97,149
Less: Current portion		1,016		424
Asset retirement obligations - long-term portion	$	102,398	$	96,725