Asset Retirement Obligations

3 Months Ended

Mar. 31, 2018

Asset Retirement Obligation Disclosure [Abstract]

5. Asset Retirement Obligations

Our ARO primarily represents 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.

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

Balance, December 31, 2017	$	300,446
Liabilities settled		(7,022	)
Accretion of discount		4,536
Disposition of properties		(297	)
Revisions of estimated liabilities ⁽¹⁾		8,820
Balance, March 31, 2018		306,483
Less current portion		25,748
Long-term	$	280,735

(1)

Revisions were primarily related to wells that experienced sustained casing pressure issues.