Asset Retirement Obligations

6 Months Ended

Jun. 30, 2026

Asset Retirement Obligation Disclosure [Abstract]

The following table reflects the changes in the Company’s ARO during the six months ended June 30, 2026:


	(In thousands)

Balance at December 31, 2025	$	481,919
Liabilities incurred during period	3,810

Liabilities settled during period	(17,935)
Liabilities settled through divestitures	(320)
Accretion expense during period	15,233


Balance at June 30, 2026	$	482,707

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 June 30, 2026, the current portion of the total ARO balance was $50.7 million, and is included in accrued liabilities on the Company’s Condensed Consolidated Balance Sheet.