ASSET RETIREMENT OBLIGATIONS

12 Months Ended

Dec. 31, 2011

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation Disclosure [Text Block]

ASSET RETIREMENT OBLIGATIONS

The following table presents the changes in carrying amounts of the asset retirement obligations associated with our working interest in natural gas and crude oil properties.

	2011			2010
	(in thousands)
Balance beginning of year, January 1	$	28,047		$	29,564
Deconsolidation of PDCM and change in ownership interest	(916		)	(6,564		)
Obligations incurred with development activities and assumed with acquisitions	9,625			4,549
Accretion expense	1,897			1,423
Obligations discharged with disposal of properties and asset retirements	(990		)	(925		)
Revisions in estimated cash flows	8,903			—
Balance end of year, December 31 (1)	46,566			28,047
Less current portion	(250		)	(250		)
Long-term portion	$	46,316		$	27,797

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(1) Includes $2 million and $2.6 million as of December 31, 2011 and 2010, respectively, related to assets held for sale.

In 2011, we revised our assumptions related to the cash outlay expected to be incurred to plug uneconomic wells.  The revision in the asset retirement obligation did not have an immediate effect in the current year statement of operations, as the increase in the revised obligation will be accreted and the offsetting capitalized amount will be depreciated over the useful lives of respective wells.