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Reconciliation of Asset Retirement Obligation Liability (Tables)
 12 Months Ended
Dec. 31, 2023
Asset Retirement Obligation [Abstract]  
Schedule of change in asset retirement obligation liability
The following is a reconciliation of the Company’s total asset retirement obligation liability as of December 31, 2023, and 2022:
As of December 31,
20232022
(in thousands)
Beginning asset retirement obligations$115,313 $101,424 
Liabilities incurred (1)
4,062 2,086 
Liabilities settled (2)
(4,489)(6,356)
Accretion expense
6,330 5,344 
Revision to estimated cash flows
1,938 12,815 
Ending asset retirement obligations (3)
$123,154 $115,313 
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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, 2023, and 2022, included $4.4 million and $7.1 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.