Quarterly report pursuant to Section 13 or 15(d)

Asset Retirement Obligations

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Asset Retirement Obligations
 3 Months Ended
Mar. 31, 2018
Asset Retirement Obligation [Abstract]  
Asset Retirement Obligations
Asset Retirement Obligations

The table below summarizes the activity for the Company’s asset retirement obligations:

Three Months Ended

March 31, 2018
Asset retirement obligations at January 1, 2018
$
6,020

Accretion expense
218

Liabilities incurred
44

Liabilities settled
(95
)
Revisions to estimate (a)
4,314

Asset retirement obligations at end of period
10,501

Less: Current asset retirement obligations
(2,784
)
Long-term asset retirement obligations at March 31, 2018
$
7,717


(a)
Revisions to estimated ARO obligations can result from changes in retirement cost estimates, revisions to estimated inflation rates and changes in the estimated timing of abandonment.

Certain of the Company’s operating agreements require that assets be restricted for abandonment obligations. Amounts recorded in the consolidated balance sheet at March 31, 2018 as long-term restricted investments were $3,382. 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.