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Asset Retirement Obligation (Tables)
12 Months Ended
Dec. 31, 2012
Changes to Company's Asset Retirement Obligations

The following table describes the changes to the Company’s asset retirement obligations during 2012 and 2011 (in thousands):

 

     2012     2011  

Balance at beginning of year

   $ 3,455      $ 3,063   

Liabilities incurred

     418        361   

Liabilities settled

     (150     (110

Accretion expense

     163        143   

Revision in estimated costs of plugging oil and natural gas wells

     536        (2
  

 

 

   

 

 

 

Asset retirement obligation at end of year

   $ 4,422      $ 3,455