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Asset Retirement Obligations | 12 Months Ended
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Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract] |
Asset Retirement Obligations | Asset Retirement Obligations Our ARO liabilities are based on our net ownership in wells and facilities and management’s estimate of the costs to abandon and remediate those wells and facilities together with management’s estimate of the future timing of the costs to be incurred. The following table summarizes activity related to our ARO liabilities for the years ended December 31, 2024 and 2023:
| Year Ended December 31,
| 2024 |  | 2023
| (in thousands)
Balance at beginning of period | $ | 445,060 |  |  | $ | 365,614 |
Additions(1) | 43,784 |  |  | 34,460 |
Retirements | (13,399) |  |  | (10,046) |
Accretion expense | 31,527 |  |  | 27,782 |
Revisions | 35,230 |  |  | 29,002 |
Sale | (56,034) |  |  | (1,752) |
Balance at end of period | 486,168 |  |  | 445,060 |
Less: current portion | (37,223) |  |  | (26,741) |
Balance at end of period, noncurrent portion | $ | 448,945 |  |  | $ | 418,319 |
(1)During the year ended December 31, 2024, our ARO additions primarily related to oil and natural gas properties acquired in the SilverBow Merger and the Central Eagle Ford Acquisition. During the year ended December 31, 2023, our ARO additions primarily related to properties acquired in the Western Eagle Ford Acquisitions. See NOTE 3 – Acquisitions and Divestitures for additional information.

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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/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481850/410-20-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/410-20/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 20 -Topic 410 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481850/410-20-50-2 + Details
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