Asset Retirement Obligations

12 Months Ended

Dec. 31, 2011

(10) ASSET RETIREMENT OBLIGATIONS

The following table summarizes the Company's 2011 and 2010 activity related to asset retirement obligations:

	2011	2010
	(in thousands)

Asset retirement obligation at January 1	$ 27,786	$ 22,972
Accretion of discount	1,361	1,095
Obligations incurred	4,304	6,926
Obligations settled/removed	(883)	(477)
Revisions of estimates	5,125	(2,730)
Asset retirement obligation at December 31	$ 37,693	$ 27,786

Current liability	1,539	1,829
Long-term liability	36,154	25,957
Asset retirement obligation at December 31	$ 37,693	$ 27,786

- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

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