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Asset Retirement Obligations
 12 Months Ended
Dec. 31, 2013
Asset Retirement Obligation [Abstract]  
Asset Retirement Obligations
NOTE I.    Asset Retirement Obligations
The Company's asset retirement obligations primarily relate to the future plugging and abandonment of wells and related facilities. Market risk premiums associated with asset retirement obligations are estimated to represent a component of the Company's credit-adjusted risk-free rate that is utilized in the calculations of asset retirement obligations. The following table summarizes the Company's asset retirement obligation activity during the years ended December 31, 2013, 2012 and 2011:
 
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in thousands)
Beginning asset retirement obligations
$
197,754

 
$
136,742

 
$
152,291

Obligations assumed in acquisitions
—

 
10,498

 
6

New wells placed on production
5,775

 
9,593

 
9,233

Changes in estimates (a)
7,939

 
51,536

 
7,490

Obligations reclassified to liabilities held for sale
(10,091
)
 
—

 
(29,892
)
Disposition of wells
(6,083
)
 
(2,536
)
 
(448
)
Obligations settled
(13,953
)
 
(18,066
)
 
(12,880
)
Accretion of discount on continuing operations
11,862

 
8,677

 
7,506

Accretion of discount from integrated services (b)
14

 
100

 
—

Accretion of discount on discontinued operations
831

 
1,210

 
3,436

Ending asset retirement obligations
$
194,048

 
$
197,754

 
$
136,742

 _____________________
(a)
The changes in the 2013, 2012 and 2011 estimates are primarily due to increases in abandonment cost estimates based on recent actual costs incurred to abandon wells and declines in credit-adjusted risk-free discount rates used to value increases in asset retirement obligations. The increases in 2013 and 2011 estimates were partially offset by higher commodity prices, which had the effect of lengthening the economic life of certain wells and decreasing the present value of future retirement obligations. The increase in the 2012 estimate was further impacted by declines in oil, NGL and gas prices used to calculate proved reserves, which had the effect of shortening the economic life of certain wells and increasing the present value of future retirement obligations.
(b)
Accretion of discount from integrated services includes Premier Silica accretion expense, which is recorded as a reduction in income from vertical integration services in interest and other income in the Company's accompanying consolidated statements of operations. See Note M for more information about interest and other income.
As of December 31, 2013 and 2012, the current portions of the Company's asset retirement obligations were $19.3 million and $13.3 million, respectively.