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Asset Retirement Obligations | 12 Months Ended
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Dec. 31, 2022
Asset Retirement Obligation Disclosure [Abstract] |
Asset Retirement Obligations | Note 15 — Asset Retirement Obligations Our AROs relate to mature offshore oil and gas properties that we acquired with the intention to perform decommissioning work at the end of their life cycles. In August 2022, we made an asset acquisition from MP Gulf of Mexico, LLC (“MP GOM”), a joint venture controlled by Murphy Exploration & Production Company – USA, for all of MP GOM’s 62.5% interest in the Thunder Hawk Field, in exchange for the assumption of MP GOM’s abandonment obligations (initially estimated at $23.6 million). Our AROs also include P&A costs associated with our Droshky oil and gas properties (Note 4). The following table describes the changes in our AROs (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
AROs at January 1, | ​ | $ | 29,658 | ​ | $ | 30,913 | ​ | $ | 28,258
Liability incurred during the period | ​ | ​ | 23,601 | ​ | ​ | — | ​ | ​ | —
Revisions in estimates | ​ |  | (3,285) | ​ |  | (2,631) | ​ |  | —
Accretion expense | ​ |  | 1,982 | ​ |  | 1,376 | ​ |  | 2,655
AROs at December 31, | ​ | $ | 51,956 | ​ | $ | 29,658 | ​ | $ | 30,913
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=6392692&loc=d3e7569-110849 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2175671 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 + Details
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