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ASSET RETIREMENT OBLIGATIONS
 12 Months Ended
Dec. 31, 2013
Asset Retirement Obligation Disclosure [Abstract]  
ASSET RETIREMENT OBLIGATIONS

NOTE 9 — ASSET RETIREMENT OBLIGATIONS:

The change in our asset retirement obligations during the years ended December 31, 2013, 2012 and 2011 is set forth below:

 

     Year Ended December 31,  
     2013     2012     2011  

Asset retirement obligations as of the beginning of the year, including current portion

    $ 488,302      $ 425,779      $ 373,920   

Liabilities incurred

      19,043        3,869        7,993   

Liabilities settled

      (79,695 )      (67,641 )      (63,226 ) 

Liabilities assumed

      —          15,263        59,441   

Divestment of properties

      (9,245 )      (7,563 )      (10,900 ) 

Accretion expense

      33,575        33,331        30,764   

Revision of estimates

      50,533        85,264        27,787   
  

 

 

    

 

 

    

 

 

  

Asset retirement obligations as of the end of the year, including current portion

    $ 502,513      $ 488,302      $ 425,779