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Asset Retirement Obligation
9 Months Ended
Sep. 30, 2012
Asset Retirement Obligation [Abstract]  
Asset Retirement Obligation

(7) Asset Retirement Obligation

     Our asset retirement obligations represent the estimated present value of the amount we will incur to plug, abandon and remediate our producing properties at the end of their productive lives in accordance with applicable laws. The following table summarizes the Company's Asset Retirement Obligation transactions for the nine months ended September 30, 2012 (in thousands):

Balance December 31, 2011 $ 1,927  
 
Accretion expense   99  
Liabilities incurred   92  
Liabilities settled   (52 )
Balance September 30, 2012 $ 2,066