Rendering

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Network
2312301 - Disclosure - Asset Retirement Obligations Reconciliation of Asset Retirement Obligation Liability (Tables)
(http://sm-energy.com/role/AssetRetirementObligationsReconciliationOfAssetRetirementObligationLiabilityTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Asset Retirement Obligation [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Asset Retirement Obligation [Abstract]
 
Schedule of Change in Asset Retirement Obligation [Table Text Block]
A reconciliation of the Company’s total asset retirement obligation liability is as follows:
 
As of December 31,
 
2016
 
2015
 
(in thousands)
Beginning asset retirement obligation
$
140,874

 
$
122,124

Liabilities incurred (1)
21,293

 
14,471

Liabilities settled (2)
(57,100
)
 
(24,781
)
Accretion expense
7,795

 
5,091

Revision to estimated cash flows
10,445

 
23,969

Ending asset retirement obligation (3)(4)
$
123,307

 
$
140,874

____________________________________________
(1) 
Reflects liabilities incurred through drilling activities and acquisitions of drilled wells.
(2) 
Reflects liabilities settled through plugging and abandonment activities and divestitures of properties.
(3) 
Balance as of December 31, 2016, included $26.2 million of asset retirement obligations associated with oil and gas properties held for sale, specifically the Company’s outside-operated Eagle Ford shale assets. There were no material asset retirement obligations related to assets held for sale as of December 31, 2015.
(4) 
Balances as of December 31, 2016, and 2015, included $932,000 and $3.3 million, respectively, related to the Company’s current asset retirement obligation liability, which is recorded in accounts payable and accrued expenses on the accompanying balance sheets.