Quarterly report pursuant to Section 13 or 15(d)

Asset Retirement Obligations

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Asset Retirement Obligations
 6 Months Ended
Jun. 30, 2018
Asset Retirement Obligation [Abstract]  
Asset Retirement Obligations
Asset Retirement Obligations

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

Six Months Ended

June 30, 2018
Asset retirement obligations at January 1, 2018
$
6,020

Accretion expense
424

Liabilities incurred
99

Liabilities settled
(207
)
Sales
(611
)
Revisions to estimate (a)
4,341

Asset retirement obligations at end of period
10,066

Less: Current asset retirement obligations
(2,284
)
Long-term asset retirement obligations at June 30, 2018
$
7,782


(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 June 30, 2018 as long-term restricted investments were $3,393. 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.