Asset Retirement Obligations

12 Months Ended

Dec. 31, 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 of wells and related facilities. The following table presents the changes in the asset retirement obligations for the years ended December 31, 2022 and 2021 (in thousands):

	For the Year Ended
	December 31,
	2022		2021
Asset retirement obligations at beginning of period	$	103,414	$	97,149
Liabilities added from acquisition or drilling		20		29
Liabilities settled		(923)		(296)
Liabilities removed upon sale of wells		—		(113)
Accretion expense		7,081		6,611
Revision of estimates		6,846		34
Asset retirement obligation at end of period		116,438		103,414
Less: Current portion		1,824		1,016
Asset retirement obligations - long-term portion	$	114,614	$	102,398