Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Asset Retirement Obligations

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Note 5 - Asset Retirement Obligations
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
Asset Retirement Obligation Disclosure [Text Block]
5.
Asset Retirement Obligations
 
Our asset retirement obligations (“ARO”) represent the estimated present value of the amount incurred to plug, abandon and remediate our properties at the end of their productive lives.
 
A summary of the changes to our ARO is as follows (in thousands):
 
Balances, December 31, 2018
  $
310,137
 
Liabilities settled
   
(2,641
)
Accretion of discount
   
9,302
 
Liabilities incurred
   
323
 
Revisions of estimated liabilities
   
6,210
 
Balances, June 30, 2019
   
323,331
 
Less current portion
   
26,335
 
Long-term
  $
296,996