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Asset Retirement Obligations | 12 Months Ended
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Dec. 31, 2020
Asset Retirement Obligation Disclosure [Abstract] |
Asset Retirement Obligations | Asset Retirement Obligations The following table reflects the changes in the Company’s ARO (in thousands):
Asset retirement obligation as of December 31, 2018 (Predecessor) | $ | 52,449 |
Liabilities incurred during period | 1,519 |
Liabilities settled during period(1) | (770) |
Accretion expense during period | 2,939 |
Revisions to estimates | 647 |
Asset retirement obligation as of December 31, 2019 (Predecessor) | $ | 56,784 |
Liabilities incurred during period | 535 |
Liabilities settled during period(1) | (196) |
Accretion expense during period | 2,775 |
Fresh start adjustment(2) | (11,681) |
Asset retirement obligation as of November 19, 2020 (Predecessor) | $ | 48,217 |
Asset retirement obligation as of November 20, 2020 (Successor) | $ | 48,217 |
Liabilities incurred during period | 35 |
Accretion expense during period | 342 |
Asset retirement obligation as of December 31, 2020 (Successor) | $ | 48,594 |
__________________ (1)Liabilities settled during the period from January 1, 2020 through November 19, 2020 and the year ended December 31, 2019 included ARO related to sold properties (see Note 12—Acquisitions and Divestitures). (2)Upon emergence from bankruptcy and the adoption of fresh start accounting, ARO liabilities were adjusted to their estimated fair value. Refer to Note 3—Fresh Start Accounting for more information on Fresh Start Adjustments. Accretion expense is included in depreciation, depletion and amortization on the Company’s Consolidated Statements of Operations. At December 31, 2020 (Successor), November 19, 2020 (Predecessor) and December 31, 2019 (Predecessor), the current portion of the total ARO balance was approximately $2.2 million, $0.3 million and $0.5 million, respectively, and is included in accrued liabilities on the Company’s Consolidated Balance Sheets.

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- 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
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