Annual report pursuant to Section 13 and 15(d)

Asset Retirement Obligations

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Asset Retirement Obligations
12 Months Ended
Dec. 31, 2011
Asset Retirement Obligation [Abstract]  
Asset Retirement Obligations
Asset Retirement Obligations
 
The following table summarizes the activity for the Company’s asset retirement obligations:

 
For the year ended December 31,
 
2011
 
2010
Asset retirement obligations at beginning of the period
$
15,925

 
$
14,650

Accretion expense
2,338

 
2,446

Liabilities incurred
36

 
608

Liabilities settled
(3,797
)
 
(3,035
)
Revisions to estimate
(564
)
 
1,256

Asset retirement obligations at end of period
13,938

 
15,925

Less: current asset retirement obligations
(1,260
)
 
(2,822
)
Long-term asset retirement obligations at the end of the period
$
12,678

 
$
13,103


Certain of the Company's operating agreements require that assets be restricted for future abandonment obligations. Amounts recorded on the Consolidated Balance Sheets at December 31, 2011 as long-term restricted investments were $3,790.  These assets, which primarily include short-term U.S. Government securities, are held in abandonment trusts dedicated to pay future abandonment costs for several of the Company’s oil and natural gas properties.