Asset Retirement Obligations (Tables)

3 Months Ended

Mar. 31, 2022

Asset Retirement Obligation Disclosure [Abstract]

Schedule of Change in Asset Retirement Obligation

NOTE 10 - ASSET RETIREMENT OBLIGATIONS

The following table presents the changes in carrying amounts of the asset retirement obligations associated with our working interests in crude oil and natural gas properties for the three months ended March 31, 2022:

	(in thousands)
Asset retirement obligations at beginning of period	$	159,672
Obligations incurred with development activities and other	1,655
Accretion expense	2,987
Revisions in estimated cash flows	(284)
Obligations discharged with asset retirements and divestitures	(8,260)
Asset retirement obligations at end of period	155,770
Current portion (1)	(31,914)
Long-term portion	$	123,856

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(1) The current portion of the asset retirement obligation is included in other accrued expenses on our condensed consolidated balance sheets.