Asset Retirement Obligations

9 Months Ended

Sep. 30, 2013

Asset Retirement Obligation Disclosure [Abstract]

The following table summarizes the changes in the Company’s asset retirement obligations for the nine months ended September 30, 2013 (in thousands).




Beginning asset retirement obligations	$	5,769
Liabilities incurred during period	417
Liabilities settled during period	(57		)
Revisions in estimated cash flows	533
Accretion expense	248
Ending asset retirement obligations	6,910
Less: current asset retirement obligations⁽¹⁾	(763		)
Long-term asset retirement obligations	$	6,147

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⁽¹⁾	Included in accrued liabilities in the Company’s unaudited condensed consolidated balance sheet at September 30, 2013.

- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

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