v3.26.1
Asset Retirement Obligations
3 Months Ended
Mar. 31, 2026
Asset Retirement Obligations  
Asset Retirement Obligations

Note 12 — Asset Retirement Obligations

Our asset retirement obligations (“AROs”) relate to mature offshore oil and gas properties (Droshky field and Thunder Hawk field) that we acquired with the intention to perform decommissioning work at the end of their life cycles. The following table describes the changes in our AROs (in thousands):

  ​ ​ ​

2026

  ​ ​ ​

2025

AROs at January 1,

$

68,770

$

62,947

Accretion expense

 

1,539

 

1,408

AROs at March 31, 

$

70,309

$

64,355