Asset Retirement Obligations

3 Months Ended

Mar. 31, 2025

Asset Retirement Obligation Disclosure [Abstract]

The following table reflects the changes in the Company’s ARO during the three months ended March 31, 2025 (in thousands):




Balance at December 31, 2024	$	308,434

Liabilities incurred during period	540

Liabilities settled during period	(8,521)

Accretion expense during period	4,956


Balance at March 31, 2025	$	305,409

The Company’s ARO includes plugging and abandonment liabilities for its oil and gas properties in the United States and Canada. Accretion expense is included in depreciation, depletion and amortization on the Company’s Condensed Consolidated Statements of Operations. At March 31, 2025, the current portion of the total ARO balance was $13.0 million and is included in accrued liabilities on the Company’s Condensed Consolidated Balance Sheet.