Asset Retirement Obligations

12 Months Ended

Dec. 31, 2016

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

Note 11—Asset Retirement Obligations

The following table summarizes the changes in the Company’s asset retirement obligations for the periods presented:

	Successor			Predecessor
	October 11, 2016 through December 31, 2016			January 1, 2016 through October 10, 2016			Year Ended December 31, 2015
(in thousands)
Asset retirement obligations, beginning of period	$	4,989		$	2,288		$	1,824
Liabilities incurred	187			174			133
Liabilities acquired	2,002			66			178
Liabilities settled	(1		)	(42		)	—
Accretion expense	49			134			139
Revision of estimated liabilities	—			32			14
Asset retirement obligations, end of period	$	7,226		$	2,652		$	2,288

AROs reflects the estimated present value of the amount of dismantlement, removal, site reclamation and similar activities associated with the Company's oil and natural gas properties. Inherent in the fair value calculation of the ARO are numerous assumptions and judgments including the ultimate settlement amounts, inflation factors, credit adjusted discount rates, timing of settlement and changes in the legal, regulatory, environmental and political environments. To the extent future revisions to these assumptions impact the fair value of the existing ARO liability, a corresponding adjustment is made to the oil and natural gas property balance.