Asset Retirement Obligation

9 Months Ended

Sep. 30, 2016

Asset Retirement Obligation [Abstract]

Asset Retirement Obligation

(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 nine months ended September 30, 2016 (in thousands):

Balance December 31, 2015	$	2,222
Accretion expense		107
Liabilities incurred		—
Liabilities settled		(86)
Balance September 30, 2016	$	2,243