Annual report pursuant to Section 13 and 15(d)

Asset Retirement Obligations

v3.22.4
Asset Retirement Obligations
12 Months Ended
Dec. 31, 2022
Asset Retirement Obligations  
Asset Retirement Obligations

7.Asset Retirement Obligations

Our ARO are related primarily to the dismantlement, removal, site reclamation and similar activities of our pipelines, water handling facilities and associated operations. A reconciliation of the changes in ARO is as follows:

(in thousands)

Year Ended December 31,

    

2022

2021

Asset Retirement Obligations, Beginning Balance

$

6,158

$

5,291

Liabilities Incurred

1,085

585

Liabilities Incurred on Acquisition

459

Accretion Expense

535

282

Reduction for Assets Sold

(272)

Liabilities Settled

(368)

Revision of Estimates

12,188

Asset Retirement Obligations, Ending Balance

$

19,785

$

6,158

Revision of estimates for the year ended December 31, 2022 related to increases in expected future scope of work and higher costs.