Asset Retirement Obligations

12 Months Ended

Dec. 31, 2012

8. Asset Retirement Obligations

The following table reflects the changes in the Company’s ARO during the years ended December 31, 2012 and 2011:


	December 31,
	2012			2011
	(In thousands)
Asset retirement obligation — beginning of period	$	13,075		$	7,640
Liabilities incurred during period		7,585			4,100
Liabilities settled during period		(71	)		(369	)
Accretion expense during period		872			590
Revisions to estimates		1,773			1,114

Asset retirement obligation — end of period	$	23,234		$	13,075

- 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.

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