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ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH
3 Months Ended
Mar. 31, 2023
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations and Restricted Cash ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH
Asset Retirement Obligations
The following table summarizes the Company’s asset retirement obligations:
 March 31, 2023December 31, 2022
Asset retirement obligations, beginning of period$9,595 $13,687 
  Revision of estimate— (238)
  Accretion of liabilities346 1,556 
  Held for sale(1)
(79)(5,410)
Asset retirement obligations, end of period$9,862 $9,595 
(1)Asset retirement obligations held for sale as of December 31, 2022 are related to Alta Mesa and are included as asset retirement obligation and other liabilities held for sale on the Condensed Consolidated Balance Sheets. Asset retirement obligations held for sale as of March 31, 2023 are related to the accretion expense on Alta Mesa through the closing date and is included within Gain on sale of assets on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). See Note 5 – Property, Plant and Equipment and Mineral Properties for more information.
The Company’s asset retirement obligations are subject to legal and regulatory requirements. Estimates of the costs of reclamation are reviewed periodically by the Company and the applicable regulatory authorities.
Restricted Cash
The Company has cash, cash equivalents and fixed income securities as collateral for various bonds posted in favor of the applicable state regulatory agencies in Arizona, Colorado, New Mexico, Texas, Utah and Wyoming, and the U.S. Bureau of Land Management and U.S. Forest Service for estimated reclamation costs associated with the White Mesa Mill, Nichols Ranch, Alta Mesa and other mining properties. The restricted cash will be released when the Company has reclaimed a mineral property, sold a mineral property to a party having assumed the applicable bond requirements, or restructured the surety and collateral arrangements. See Note 12 – Commitments and Contingencies for more information.
The following table summarizes the Company’s restricted cash:
 March 31, 2023December 31, 2022
Restricted cash, beginning of period$17,449 $20,305 
  Additional collateral posted59 734 
  Held for sale(1)
— (3,590)
Restricted cash, end of period$17,508 $17,449 
(1)Restricted cash held for sale is related to Alta Mesa and is included as Asset retirement obligation and other liabilities held for sale on the Condensed Consolidated Balance Sheets. As of March 31, 2023, $3.48 million has been released and reclassified from Asset retirement obligation and other liabilities held for sale to cash and cash equivalents on the Condensed Consolidated Balance Sheets. The remaining $0.11 million was reclassified Restricted cash on the Condensed Consolidated Balance Sheets. See Note 5 – Property, Plant and Equipment and Mineral Properties for more information.