Quarterly report pursuant to Section 13 or 15(d)

Asset Retirement Obligations

Asset Retirement Obligations
3 Months Ended
Mar. 31, 2016
Asset Retirement Obligations [Abstract]  
Asset Retirement Obligations

Note 10 - Asset Retirement Obligations

The table below summarizes the Company’s asset retirement obligations activity for the three months ended March 31, 2016: 




Asset retirement obligations at January 1, 2016




Accretion expense




Liabilities incurred



Revisions to estimate




Asset retirement obligations at end of period




Less: Current asset retirement obligations




   Long-term asset retirement obligations at March 31, 2016




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, 2016 as long-term restricted investments were $3,315. 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.