Asset Retirement Obligation

3 Months Ended

Mar. 31, 2012

Asset Retirement Obligation [Abstract]

(7) Asset Retirement Obligation

Our asset retirement obligations represent the estimated present value of the amount we will incur to plug, abandon and remediate our producing properties at the end of their productive lives in accordance with applicable laws. The following table summarizes the Company's Asset Retirement Obligation transactions for the three months ended March 31, 2012 (in thousands):


Balance December 31, 2011	$	1,927

Accretion expense		33
Liabilities incurred		33
Liabilities settled		(23	)
Balance March 31, 2012	$	1,970

- 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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