Quarterly report pursuant to Section 13 or 15(d)

Asset Retirement Obligations

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Asset Retirement Obligations
 9 Months Ended
Sep. 30, 2016
Asset Retirement Obligations [Abstract]  
Asset Retirement Obligations

Note 9 - Asset Retirement Obligations



The table below summarizes the Company’s asset retirement obligations activity for the nine months ended September 30, 2016: 



 

 

 

Asset retirement obligations at January 1, 2016

 

$

 5,107 

Accretion expense

 

 

 762 

Liabilities incurred

 

 

 12 

Liabilities settled

 

 

 (807)

Revisions to estimate

 

 

 389 

Asset retirement obligations at end of period

 

 

 5,463 

Less: Current asset retirement obligations

 

 

 (3,529)

   Long-term asset retirement obligations at September 30, 2016

 

$

 1,934 



Certain of the Company’s operating agreements require that assets be restricted for abandonment obligations. Amounts recorded in the consolidated balance sheet at September 30, 2016 as long-term restricted investments were $3,329. These assets, which primarily include short-term U.S. Government securities, are held in abandonment trusts dedicated to pay future abandonment costs.