Asset Retirement Obligations

9 Months Ended

Sep. 30, 2011

Asset Retirement Obligations [Abstract]

Asset Retirement Obligations

(4) Asset Retirement Obligations

We have asset retirement obligations associated with the future abandonment of our pipelines and related facilities and our offshore oil and gas properties. The following table summarizes our asset retirement obligation transactions during the three months ended September 30, 2011:

Asset retirement obligations as of December 31, 2010	$	2,727,856
Liabilities incurred		—
Liabilities settled		(336,227	)
Accretion expense		98,884
Asset retirement obligations as of September 30, 2011		2,490,513
Less: current portion of asset retirement obligations		138,538
Asset retirement obligations long-term balance as of September 30, 2011	$	2,351,975