XML 35 R10.htm IDEA: XBRL DOCUMENT
v3.19.3

Asset Retirement Obligations | 9 Months Ended
--- | ---
Sep. 30, 2019
Asset Retirement Obligation Disclosure [Abstract] |
Asset Retirement Obligations | Note 4—Asset Retirement Obligations The following table summarizes the changes in the Company’s asset retirement obligations (“ARO”) associated with our working interests in oil and gas properties for the nine months ended September 30, 2019:
(in thousands) |
Asset retirement obligations as of January 1, 2019 | $ | 13,895 |
Liabilities acquired | 101 |
Liabilities incurred | 1,075 |
Liabilities divested and settled | (1,112 | )
Accretion expense | 670 |
Asset retirement obligations as of September 30, 2019 | $ | 14,629 |
ARO reflect the present value of the estimated future costs associated with the plugging and abandonment of oil and natural gas wells, removal of equipment and facilities from leased acreage and land restoration in accordance with applicable local, state and federal laws. Inherent in the fair value calculation of ARO are numerous assumptions and judgments including the ultimate plug and abandonment settlement amounts, inflation factors, credit adjusted discount rates and timing of settlement. To the extent future revisions to these assumptions impact the value of the existing ARO liability, a corresponding offsetting adjustment is made to the oil and gas property balance. Changes in the liability due to the passage of time are recognized as an increase in the carrying amount of the liability and as accretion expense.

X
- References No definition available. + Details
Name: | us-gaap_AssetRetirementObligationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2175671 + Details
Name: | us-gaap_AssetRetirementObligationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration