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Asset Retirement Obligations | 12 Months Ended
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Dec. 31, 2016
Asset Retirement Obligation Disclosure [Abstract] |
Asset Retirement Obligations | Note 9 – Asset Retirement Obligations Please refer to Asset Retirement Obligations in Note 1 – Summary of Significant Accounting Policies for a discussion of the initial and subsequent measurements of asset retirement obligation liabilities and the significant assumptions used in the estimates. A reconciliation of the Company’s total asset retirement obligation liability is as follows:
| As of December 31,
| 2016 |  | 2015
| (in thousands)
Beginning asset retirement obligation | $ | 140,874 |  |  | $ | 122,124 |
Liabilities incurred (1) | 21,293 |  |  | 14,471 |
Liabilities settled (2) | (57,100 | ) |  | (24,781 | )
Accretion expense | 7,795 |  |  | 5,091 |
Revision to estimated cash flows | 10,445 |  |  | 23,969 |
Ending asset retirement obligation (3)(4) | $ | 123,307 |  |  | $ | 140,874 |
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(1) | Reflects liabilities incurred through drilling activities and acquisitions of drilled wells.
(2) | Reflects liabilities settled through plugging and abandonment activities and divestitures of properties.
(3) | Balance as of December 31, 2016, included $26.2 million of asset retirement obligations associated with oil and gas properties held for sale, specifically the Company’s outside-operated Eagle Ford shale assets. There were no material asset retirement obligations related to assets held for sale as of December 31, 2015.
(4) | Balances as of December 31, 2016, and 2015, included $932,000 and $3.3 million, respectively, related to the Company’s current asset retirement obligation liability, which is recorded in accounts payable and accrued expenses on the accompanying 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7569-110849 + Details
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