Asset Retirement Obligations
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2012
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Asset Retirement Obligation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligations |
Asset Retirement Obligations
The following table summarizes the Company’s asset retirement obligations activity for the nine months ended September 30, 2012:
Liabilities settled primarily relate to properties located in the Gulf of Mexico that were plugged and abandoned during the period.
Certain of the Company’s operating agreements require that assets be restricted for future abandonment obligations. Amounts recorded on the Consolidated Balance Sheets as restricted investments were $3,796 at September 30, 2012. These investments include primarily U.S. Government securities, and are held in abandonment trusts dedicated to pay future abandonment costs for several of the Company’s oil and natural gas properties.
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