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Asset Retirement Obligation
3 Months Ended
Mar. 31, 2014
Asset Retirement Obligation  
Asset Retirement Obligation

7. Asset Retirement Obligation

 

Activity related to the Company’s asset retirement obligation is as follows:

 

(In thousands)

 

Three Months Ended
March 31, 2014

 

Balance at beginning of period

 

$

75,853

 

Liabilities incurred

 

1,647

 

Liabilities divested

 

(899

)

Accretion expense

 

1,003

 

Balance at end of period

 

$

77,604

 

 

As of March 31, 2014, approximately $2.0 million, which represents the current portion of the Company’s asset retirement obligation, is included in accrued liabilities in the Condensed Consolidated Balance Sheet.