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Reconciliation of Asset Retirement Obligation Liability (Tables)

12 Months Ended

Dec. 31, 2020

Asset Retirement Obligation [Abstract]

Schedule of change in asset retirement obligation liability [Table Text Block]

The following is a reconciliation of the Company’s total asset retirement obligation liability as of December 31, 2020, and 2019:


	As of December 31,
	2020		2019
	(in thousands)
Beginning asset retirement obligations	$	86,846	$	94,194
Liabilities incurred (1)	1,018		3,927
Liabilities settled (2)	(1,404)		(4,105)
Accretion expense	4,034		4,016
Revision to estimated cash flows	(5,169)		(11,186)
Ending asset retirement obligations (3)	$	85,325	$	86,846

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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)Balances as of December 31, 2020, and 2019, included $2.0 million and $2.7 million, respectively, related to the Company’s current asset retirement obligation liability, which is recorded in the accounts payable and accrued expenses line item on the accompanying balance sheets.