Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Asset Retirement Obligations

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Note 5 - Asset Retirement Obligations
3 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Asset Retirement Obligation Disclosure [Text Block]

5.

Asset Retirement Obligations 

 

Our ARO represent the estimated present value of the amount incurred to plug, abandon and remediate our properties at the end of their productive lives.

 

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

 

Balances, December 31, 2020

  $ 392,704  

Liabilities settled

    (962 )

Accretion of discount

    5,868  

Revisions of estimated liabilities

    1,287  

Balances, March 31, 2021

    398,897  

Less current portion

    26,402  

Long-term

  $ 372,495