Quarterly report [Sections 13 or 15(d)]

ASSET RETIREMENT OBLIGATIONS

v3.26.3
ASSET RETIREMENT OBLIGATIONS
9 Months Ended
Sep. 30, 2026
ASSET RETIREMENT OBLIGATIONS  
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):

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Nine Months Ended September 30, 

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  ​ ​ ​

2026

  ​ ​ ​

2025

Asset retirement obligations, beginning of period

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$

561,851

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$

548,832

Liabilities settled

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(26,512)

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(24,873)

Accretion expense

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25,899

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25,075

Disposition of oil and natural gas properties

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—

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(1,469)

Liabilities incurred

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—

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1,029

Revisions of estimated liabilities

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19,574

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17,427

Asset retirement obligations, end of period

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580,812

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566,021

Less: Current portion

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(22,010)

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(34,528)

Long-term

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$

558,802

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$

531,493

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