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Asset Retirement Obligation
6 Months Ended
Jun. 30, 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)

 

Six Months Ended
June 30, 2014

 

Balance at beginning of period

 

$

75,853

 

Liabilities incurred

 

2,517

 

Liabilities settled

 

(36

)

Liabilities divested

 

(899

)

Accretion expense

 

2,024

 

Balance at end of period

 

$

79,459

 

 

As of both June 30, 2014 and December 31, 2013, approximately $2.0 million is included in accrued liabilities in the Condensed Consolidated Balance Sheet, which represents the current portion of the Company’s asset retirement obligation.