Quarterly report pursuant to Section 13 or 15(d)

Asset Retirement Obligations (Tables)

v3.19.2
Asset Retirement Obligations (Tables)
6 Months Ended
Jun. 30, 2019
Asset Retirement Obligation [Abstract]  
Summary of Activity of Asset Retirement Obligations

The table below summarizes the activity for the Company’s ARO:
 
Six Months Ended
 
June 30, 2019
Asset retirement obligations at January 1, 2019
$
14,292

Accretion expense
457

Liabilities incurred
199

Liabilities settled
(630
)
Dispositions
(1,701
)
Revisions to estimate
(199
)
Asset retirement obligations at end of period
12,418

Less: Current asset retirement obligations
(3,103
)
Long-term asset retirement obligations at June 30, 2019
$
9,315



Liabilities incurred include additions from acquisitions, asset swaps, and new wells drilled during the year.
Liabilities settled include the retirement of 20 wells during the year.
Dispositions are primarily attributable to the Ranger Asset Divestiture in the second quarter of 2019. See Note 3 for details about the Ranger Asset Divestiture.
Revisions to estimates were due to changes in plugging cost estimates, timing of abandonment activities, and changes in working interest of producing wells.