Quarterly report pursuant to Section 13 or 15(d)

Asset Retirement Obligations (Tables)

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Asset Retirement Obligations (Tables)
 6 Months Ended
Jun. 30, 2012
Reconciliation of Asset Retirement Obligations Liability

productive lives in accordance with applicable laws. A summary of the changes to our ARO is as follows (in thousands):

 

Balance, December 31, 2011

    $     393,880   

Liabilities settled

      (29,228 ) 

Accretion of discount

      10,347   

Disposition of properties

      (3,993 ) 

Liabilities incurred

      362   

Revisions of estimated liabilities due to Hurricane Ike (1)

      (30,360 ) 

Revisions of estimated liabilities – all other

      7,993   
  

 

 

  

Balance, June 30, 2012

      349,001   

Less current portion

      99,211   
  

 

 

  

Long-term

    $ 249,790   
  

 

 

  

 

  (1) During the six months ended June 30, 2012, our recommended remediation plan for one of the hurricane damaged platforms and its associated wells was approved by all required parties. The approved plan, which included remediating the damaged platform as a reef in place, was responsible for most of the reduction of the estimated costs.