XML 29 R18.htm IDEA: XBRL DOCUMENT v3.19.2
Asset Retirement Obligation
 6 Months Ended
Jun. 30, 2019
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation
Asset Retirement Obligation

The following table describes the changes to the Company’s asset retirement obligation liability (in thousands):
 
Successor
 
Predecessor
 
February 9, 2019 through June 30, 2019
 
January 1, 2019 through February 8, 2019
 
Six Months Ended June 30, 2018
Asset retirement obligation, beginning of period
$
2,486

 
$
2,480

 
$
31,310

Liabilities incurred
20

 
—

 
7

Liabilities settled
(292
)
 
(11
)
 
(98
)
Accretion expense
69

 
17

 
240

Revisions in estimates
1,839

 
—

 
(67
)
Divestiture of oil and gas properties
—

 
—

 
(28,214
)
Asset retirement obligation, end of period
4,122

 
2,486

 
3,178

Less: current portion of asset retirement obligation
(1,525
)
 
(183
)
 
(877
)
Long-term asset retirement obligation
$
2,597

 
$
2,303

 
$
2,301



Revisions in estimates for the period February 9, 2019 through June 30, 2019 are primarily due to the change in timing and scope of plugging and abandonment operations at one of the Company's Gulf Coast wells and one of the Company's Gulf of Mexico fields. The divestiture of oil and gas properties during 2018 totaling $28.2 million relates to the sale of the Company's Gulf of Mexico assets. The liabilities incurred, revisions in estimated cash flows and divestitures represent non-cash investing activities for purposes of the consolidated statement of cash flows.