XML 39 R12.htm IDEA: XBRL DOCUMENT v3.22.4
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