Annual report [Section 13 and 15(d), not S-K Item 405]

Asset Retirement Obligations

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Asset Retirement Obligations
12 Months Ended
Dec. 31, 2024
Asset Retirement Obligations  
Asset Retirement Obligations

7.Asset Retirement Obligations

Our AROs 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 AROs is as follows:

(in thousands)

Year Ended December 31,

    

2024

2023

Asset Retirement Obligations, Beginning Balance

$

19,793

$

19,785

Liabilities Incurred

1,615

930

Accretion Expense

1,369

1,204

Reduction for Assets Sold

(554)

Liabilities Settled

(675)

(2,056)

Revision of Estimates

484

Asset Retirement Obligations, Ending Balance

$

22,102

$

19,793