Asset Retirement Obligations

9 Months Ended

Sep. 30, 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 nine months ended September 30, 2023 (in thousands):

Asset retirement obligations at beginning of period	$	116,438
Liabilities added from acquisition or drilling		5
Liabilities settled		(993)
Liabilities removed upon sale of wells		—
Accretion expense		5,922
Revision of estimates		190
Asset retirement obligation at end of period		121,562
Less: Current portion		1,706
Asset retirement obligations - long-term portion	$	119,856