Quarterly report pursuant to Section 13 or 15(d)

Asset Retirement Obligations

Asset Retirement Obligations
6 Months Ended
Jun. 30, 2013
Asset Retirement Obligations

4.  Asset Retirement Obligations

Our ARO primarily represents the estimated present value of the amount we will incur to plug, abandon and remediate our producing properties at the end of their productive lives in accordance with applicable laws. 

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


Balance, December 31, 2012




Liabilities settled




Accretion of discount




Liabilities incurred




Revisions of estimated liabilities due to Hurricane Ike




Revisions of estimated liabilities – all other (1)




Balance, June 30, 2013




Less current portion










(1) Revisions are primarily due to increases in the scope of work at several offshore locations required by the Bureau of Safety and Environmental Enforcement.