Quarterly report pursuant to Section 13 or 15(d)

Asset Retirement Obligations

Asset Retirement Obligations
6 Months Ended
Jun. 30, 2014
Asset Retirement Obligation [Abstract]  
Asset Retirement Obligations

Note 8 - Asset Retirement Obligations 


The table below summarizes the Company’s asset retirement obligations activity for the six months ended June 30, 2014: 





Asset retirement obligations at January 1, 2014




Accretion expense




Liabilities incurred




Liabilities settled




Revisions to estimate




Asset retirement obligations at end of period




Less: Current asset retirement obligations




Long-term asset retirement obligations at June 30, 2014





Certain of the Company’s operating agreements require that assets be restricted for abandonment obligations. Amounts recorded in the consolidated balance sheets as restricted investments were $3,806 at June 30, 2014. 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.