Asset Retirement Obligations

9 Months Ended

Sep. 30, 2017

9. Asset Retirement Obligations

A summary of the Company’s Asset Retirement Obligations (“ARO”) for the nine months ended September 30, 2017 is as follows:


(in thousands of dollars)
Balance at December 31, 2016	$	20,058
Liabilities incurred		698
Accretion of ARO liability		720
Liabilities settled due to sale of related properties		(1,202)
Liabilities settled due to plugging and abandonment		(174)
Change in estimate		(261)
Total ARO balance at September 30, 2017		19,839
Less: Current portion of ARO		(600)
Total long-term ARO at September 30, 2017	$	19,239