Asset Retirement Obligations

9 Months Ended

Sep. 30, 2022

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 costs for wells and related facilities. The following table presents the changes in the asset retirement obligations for the nine months ended September 30, 2022 (in thousands):

Asset retirement obligations at beginning of period	$	103,414
Liabilities added from acquisition or drilling		20
Liabilities settled		(552)
Liabilities removed upon sale of wells		—
Accretion expense		5,242
Revision of estimates		117
Asset retirement obligation at end of period		108,241
Less: Current portion		883
Asset retirement obligations - long-term portion	$	107,358