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v3.25.2

ASSET RETIREMENT OBLIGATIONS | 6 Months Ended
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Jun. 30, 2025
Notes to Financial Statements |
ASSET RETIREMENT OBLIGATIONS | NOTE 3 — ASSET RETIREMENT OBLIGATIONS Asset retirement obligations (“AROs”) represent the estimated present value of the amount incurred to plug, abandon and remediate the Company’s properties at the end of their productive lives. A summary of the changes to ARO is as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30,
​ |  | 2025 |  | 2024
Asset retirement obligations, beginning of period | ​ | $ | 548,832 | ​ | $ | 498,815
Liabilities settled | ​ |  | (15,978) | ​ |  | (11,997)
Accretion expense | ​ |  | 17,073 | ​ |  | 16,369
Liabilities acquired | ​ |  | — | ​ |  | 17,647
Disposition of oil and natural gas properties | ​ | ​ | (1,469) | ​ | ​ | —
Liabilities incurred | ​ | ​ | 1,029 | ​ | ​ | —
Revisions of estimated liabilities | ​ |  | 7,306 | ​ |  | 13,641
Asset retirement obligations, end of period | ​ | ​ | 556,793 | ​ | ​ | 534,475
Less: Current portion | ​ |  | (31,813) | ​ |  | (35,627)
Long-term | ​ | $ | 524,980 | ​ | $ | 498,848
​

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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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