Asset Retirement Obligations

3 Months Ended

Mar. 31, 2017

Disclosure Text Block

Asset Retirement Obligations

8.        Asset Retirement Obligations

A summary of the Company’s Asset Retirement Obligations (“ARO”) for the three months ended March 31, 2017 is as follows:

(in thousands of dollars)
Balance at December 31, 2016	$	20,058
Liabilities incurred		413
Accretion of ARO liability		201
Liabilities settled due to plugging and abandonment		(37)
Total ARO balance at March 31, 2017		20,635
Less: Current portion of ARO		(600)
Total long-term ARO at March 31, 2017	$	20,035