Property, Plant and Equipment

6 Months Ended

Jun. 30, 2022

Note 2 — Property, Plant and Equipment

Proved Properties

During the three and six months ended June 30, 2022 and 2021, the Company’s ceiling test computations did not result in a write-down of its U.S. oil and natural gas properties. At June 30, 2022, the Company’s ceiling test computation was based on SEC pricing of $86.69 per Bbl of oil, $5.30 per Mcf of natural gas and $36.04 per Bbl of NGLs.

Asset Retirement Obligations

The asset retirement obligations included in the Condensed Consolidated Balance Sheets in current and non-current liabilities, and the changes in that liability were as follows (in thousands):


Asset retirement obligations at December 31, 2021	$	434,006
Obligations incurred		54
Obligations settled		(39,768	)
Obligations divested		(1,572	)
Accretion expense		29,221
Changes in estimate		30,490
Asset retirement obligations at June 30, 2022	$	452,431
Less: Current portion at June 30, 2022		55,542
Long-term portion at June 30, 2022	$	396,889