Quarterly report pursuant to Section 13 or 15(d)

Asset Retirement Obligations

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Asset Retirement Obligations
6 Months Ended
Jun. 30, 2011
Asset Retirement Obligations  
Asset Retirement Obligations

4. Asset Retirement Obligations

Our asset retirement obligations primarily represent the estimated present value of the amount we will incur to plug, abandon and remediate our producing properties at the end of their productive lives in accordance with applicable laws. A summary of the changes to our asset retirement obligations is as follows (in thousands):

 

Balance, December 31, 2010

   $ 391,316   

Liabilities settled

     (29,703

Accretion of discount

     15,844   

Liabilities assumed through acquisition

     382   

Liabilities incurred

     330   

Revisions of estimated liabilities due to Hurricane Ike

     6,628   

Revisions of estimated liabilities – all other

     8,281   
  

 

 

 

Balance, June 30, 2011

     393,078   

Less current portion

     105,379   
  

 

 

 

Long-term

   $ 287,699