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Asset Retirement Obligations

6 Months Ended

Jun. 30, 2021

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

Asset Retirement Obligations

The following table reflects the changes in the Company’s ARO during the six months ended June 30, 2021:

			(In thousands)
Balance at December 31, 2020 (Successor)			$	48,594
Liabilities incurred during period			401
Liabilities settled during period			(322)
Accretion expense during period			2,043
Revisions to estimates			193
Liabilities settled through divestitures			(4,845)
Balance at June 30, 2021 (Successor)			$	46,064

Accretion expense is included in depreciation, depletion and amortization on the Company’s Condensed Consolidated Statements of Operations. At June 30, 2021 (Successor) and December 31, 2020 (Successor), the current portion of the total ARO balance was $1.1 million and $2.2 million, respectively, and is included in accrued liabilities on the Company’s Condensed Consolidated Balance Sheets.

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- References

No definition available.

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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

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