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Reconciliation of Asset Retirement Obligation Liability (Tables) | 12 Months Ended
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Dec. 31, 2024
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,
| 2024 |  | 2023
| (in thousands)
Beginning asset retirement obligations | $ | 123,154 |  |  | $ | 115,313 |
Liabilities incurred (1) | 21,442 |  |  | 4,062 |
Liabilities settled (2) | (27,130) |  |  | (4,489) |
Accretion expense | 5,403 |  |  | 6,330 |
Revision to estimated cash flows | 26,444 |  |  | 1,938 |
Ending asset retirement obligations (3) | $ | 149,313 |  |  | $ | 123,154 |
____________________________________________ (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, 2024, and 2023, included $4.0 million and $4.4 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.

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- Definition Tabular disclosure of the changes in carrying amount of a liability for asset retirement obligations, for changes such as new obligations, changes in estimates of existing obligations, spending on existing obligations, property dispositions, and foreign currency translation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481850/410-20-50-1 + Details
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