v3.26.1
Asset Retirement Obligations
12 Months Ended
Dec. 31, 2025
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations

Note 8 - Asset Retirement Obligations

The Company has recognized an estimated liability for its asset retirement obligations related to the future costs of plugging, abandonment, and remediation of natural gas producing properties. The present value of the estimated asset retirement obligations has been capitalized as part of the carrying amount of the related natural gas properties. As of December 31, 2025 and 2024, the liability has been accreted to its present value and, for the years ended December 31, 2025, 2024, and 2023, accretion expense of $15.1 million, $14.1 million, and $13.2 million, respectively, was recognized and included in depreciation, amortization, depletion, and accretion in the consolidated statements of operations.

The following table summarizes the activities of the Company’s asset retirement obligations:

Year Ended December 31,

(in thousands)

2025

2024

2023

Balance, as of January 1,

  ​ ​ ​

$

201,158

  ​ ​ ​

$

195,476

  ​ ​ ​

$

182,300

Additions through acquisitions (1)

 

18,761

 

 

640

Liabilities incurred

 

226

 

42

 

89

Liabilities settled

 

(1,873)

 

(1,288)

 

(759)

Liabilities associated with property sold (2)

 

 

(7,133)

 

Accretion of discount

 

15,067

 

14,061

 

13,206

Balance, as of December 31,

 

233,339

 

201,158

 

195,476

Less current portion

 

(2,967)

 

(2,363)

 

(2,271)

Asset retirement obligations, long-term

$

230,372

$

198,795

$

193,205

(1)Relates to the Bedrock Acquisition. See Note 3 - Acquisition and Dispositions for further discussion.
(2)Liabilities associated with property sold relate to the sales of Chaffee and certain non-operated upstream assets in Chelsea. See Note 3 - Acquisition and Dispositions for further discussion.