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Asset Retirement Obligations

9 Months Ended

Sep. 30, 2022

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

Asset Retirement Obligations

The following table reflects the changes in the Company’s ARO during the nine months ended September 30, 2022:

			(In thousands)
Balance at December 31, 2021			$	62,416
Liabilities assumed in Merger			87,265
Liabilities incurred during period			412
Liabilities settled during period			(1,816)
Accretion expense during period			4,987
Liabilities settled through divestitures(1)			(8,535)
Balance at September 30, 2022			$	144,729

__________________ 

(1)    Includes $8.5 million of liabilities that were settled through the Rio Blanco County Divestiture. See Note 10—Divestitures for additional information.

Accretion expense is included in depreciation, depletion and amortization on the Company’s Condensed Consolidated Statements of Operations. At September 30, 2022, the current portion of the total ARO balance was $25.0 million and is included in accrued liabilities on the Company’s Condensed Consolidated Balance Sheet.

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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://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 20
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=6392692&loc=d3e7569-110849

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 20
-URI https://asc.fasb.org/subtopic&trid=2175671

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849

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