v3.25.4
Asset Retirement Obligations
12 Months Ended
Dec. 31, 2025
Asset Retirement Obligations  
Asset Retirement Obligations

(8) Asset Retirement Obligations

The following table presents a reconciliation of the Company’s asset retirement obligations (in thousands):

Year Ended December 31,

2024

2025

Beginning balance

  ​ ​

$

59,214

  ​ ​

62,001

Obligations incurred

 

991

697

Accretion expense

3,759

3,892

Settlement of obligations

(3,571)

(270)

Obligations on sold properties

(1,587)

Revisions to prior estimates

3,195

6,398

Liabilities classified as held for sale

(15,579)

Ending balance

$

62,001

57,139

Revisions to prior estimates during the year ended December 31, 2024 was primarily due to decreased estimated well lives. Revisions to prior estimates during the year ended December 31, 2025 was primarily related to increased future plugging and abandonment cost estimates, partially offset by increased estimated well lives. Asset retirement obligations are included in other liabilities on the Company’s consolidated balance sheets.