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Reconciliation of Asset Retirement Obligation Liability (Tables)
 12 Months Ended
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,
20242023
(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 
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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, 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.