Asset Retirement Obligations

9 Months Ended

Sep. 30, 2014

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation Disclosure

ASSET RETIREMENT OBLIGATIONS

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

	Amount
	(in thousands)
Balance at beginning of period, January 1, 2014	$	41,030
Obligations incurred with development activities	501
Accretion expense	2,582
Revisions in estimated cash flows	(134		)
Obligations discharged with divestitures of properties and asset retirements	(2,984		)
Balance end of period, September 30, 2014	40,995
Less: Liabilities held for sale (1)	(273		)
Less: Current portion	(1,158		)
Long-term portion	$	39,564

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(1) Represents asset retirement obligations related to our assets held for sale. See Note 12, Assets Held for Sale, Divestitures and Discontinued Operations, and Note 15, Subsequent Event, for additional information regarding the sale of our interest in PDCM.