Asset Retirement Obligations

3 Months Ended

Mar. 31, 2023

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 three months ended March 31, 2023 (in thousands):

Asset retirement obligations at beginning of period	$	116,438
Liabilities added from acquisition or drilling		5
Liabilities settled		—
Liabilities removed upon sale of wells		—
Accretion expense		1,942
Revision of estimates		(32)
Asset retirement obligation at end of period		118,353
Less: Current portion		1,824
Asset retirement obligations - long-term portion	$	116,529