Quarterly report [Sections 13 or 15(d)]

ASSET RETIREMENT OBLIGATIONS

v3.25.1
ASSET RETIREMENT OBLIGATIONS
3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
ASSET RETIREMENT OBLIGATIONS

NOTE 3 ASSET RETIREMENT OBLIGATIONS

Asset retirement obligations (“AROs”) represent the estimated present value of the amount incurred to plug, abandon and remediate the Company’s properties at the end of their productive lives. A summary of the changes to ARO is as follows (in thousands):

Three Months Ended March 31, 

    

2025

    

2024

Asset retirement obligations, beginning of period

$

548,832

$

498,815

Liabilities settled

 

(3,771)

 

(3,788)

Accretion expense

 

8,392

 

7,969

Liabilities acquired

 

 

18,161

Liabilities incurred

1,029

Revisions of estimated liabilities

 

7,369

 

8,654

Asset retirement obligations, end of period

561,851

529,811

Less: Current portion

 

(29,098)

 

(37,745)

Long-term

$

532,753

$

492,066