Asset Retirement Obligations

6 Months Ended

Jun. 30, 2017

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

ASSET RETIREMENT OBLIGATIONS

The asset retirement obligation (“ARO”) liability reflects the present value of estimated costs of dismantlement, removal, site reclamation, and similar activities associated with the Partnership’s working-interest oil and natural gas properties. The Partnership utilizes current retirement costs to estimate the expected cash outflows for retirement obligations. The Partnership estimates the ultimate productive life of its properties, a credit-adjusted risk-free rate, and an inflation factor in order to determine the current present value of this obligation. To the extent future revisions to these assumptions impact the present value of the existing ARO liability, a corresponding adjustment is made to the oil and natural gas property balance. The following table describes changes to the Partnership’s ARO liability during the period:

	For the six months ended
	June 30, 2017
	(In thousands)
Beginning asset retirement obligations	$	13,350
Liabilities incurred	74
Liabilities settled	(89		)
Accretion expense	500
Dispositions	(5		)
Revisions	—
Ending asset retirement obligations	$	13,830
Current asset retirement obligation	$	203
Non-current asset retirement obligation	$	13,627