Asset Retirement Obligations |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset Retirement Obligations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset Retirement Obligations |
Note 9 — Asset Retirement Obligations
The following table summarizes the Company’s asset retirement obligations year-to-date
activity:
Liabilities settled relate to properties sold during the period for which the related asset
retirement obligations were assumed by the purchaser, and also includes individual properties,
primarily located in the Gulf of Mexico, 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 long-term
restricted investments were $3,750 at September 30, 2011. 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 gas properties.
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