Annual report [Section 13 and 15(d), not S-K Item 405]

ASSET RETIREMENT OBLIGATIONS

v3.26.1
ASSET RETIREMENT OBLIGATIONS
12 Months Ended
Dec. 31, 2025
ASSET RETIREMENT OBLIGATIONS  
ASSET RETIREMENT OBLIGATIONS

NOTE 3 — ASSET RETIREMENT OBLIGATIONS

The changes in ARO were as follows (in thousands):

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​

​

​

​

​

​

​

​

Year Ended December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

Asset retirement obligations, beginning of period

​

$

548,832

​

$

498,815

Liabilities settled

​

 

(36,765)

​

 

(39,692)

Accretion expense

​

 

33,381

​

 

32,374

Liabilities acquired

​

 

—

​

 

17,647

Disposition of oil and natural gas properties

​

​

(1,469)

​

​

—

Liabilities incurred

​

​

1,175

​

​

—

Revisions of estimated liabilities (1)

​

 

16,697

​

 

39,688

Asset retirement obligations, end of period

​

​

561,851

​

​

548,832

Less: Current portion

​

 

(26,147)

​

 

(46,326)

Long-term

​

$

535,704

​

$

502,506

​

(1) The revisions of estimated liabilities are related to changes in the estimated timing, scopes of work and costs.