ASSET RETIREMENT OBLIGATIONS

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Asset Retirement Obligation Disclosure [Text Block]

NOTE 7 — ASSET RETIREMENT OBLIGATIONS

AROs represent the estimated present value of the amount incurred to plug, abandon and remediate our properties at the end of their productive lives.

A summary of the changes to ARO is as follows (in thousands):

	Six Months Ended June 30,
	2022
Asset retirement obligations, beginning of period	$	424,495
Liabilities settled		(39,775)
Accretion expense		12,917
Liabilities acquired		33,202
Liabilities incurred		138
Revisions of estimated liabilities		29,792
Asset retirement obligations, end of period		460,769
Less: Current portion		(51,504)
Long-term	$	409,265