Annual report pursuant to section 13 and 15(d)

Asset retirement obligations (ARO)

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Asset retirement obligations (ARO)
12 Months Ended
Dec. 31, 2011
Asset retirement obligations (ARO) [Abstract]  
Asset retirement obligations (ARO)
9. Asset retirement obligations (ARO)

A reconciliation of the Company’s asset retirement obligations for the years ended December 31, 2010 and 2011, are as follows (in thousands):

 

                 
    Year Ended December 31:  
    2010     2011  

Beginning of year

  $ —       $ —    

Liabilities incurred

    —         637,176  

Liabilities settled

    —         —    

Accretion expense

    —         14,064  

Revisions to estimate

    —         —    
   

 

 

   

 

 

 

End of year

    —         653,240  

Less current asset retirement obligations

    —         (15,398 )
   

 

 

         
           

 

 

 

Long-term asset retirement obligations

  $ —       $ 639,842