Rendering

Component: (Network and Table)
Network
30503 - Disclosure - ASSET RETIREMENT OBLIGATIONS (Tables)
(http://www.whiting.com/role/DisclosureAssetRetirementObligationsTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001255474 (http://www.sec.gov/CIK)
ASSET RETIREMENT OBLIGATIONS [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
ASSET RETIREMENT OBLIGATIONS [Abstract]
 
Schedule of reconciliation of the Company's asset retirement obligations





 

 

 

 

 

 



 

 

 

 

 

 



 

December 31,



 

2016

 

2015

Asset retirement obligation at January 1

 

$

 161,908 

 

$

 179,931 

Additional liability incurred

 

 

 3,238 

 

 

 9,208 

Revisions to estimated cash flows (1)

 

 

 11,620 

 

 

 29,307 

Accretion expense

 

 

 13,800 

 

 

 20,274 

Obligations on sold properties and assets held for sale

 

 

 (4,771)

 

 

 (69,601)

Liabilities settled

 

 

 (8,791)

 

 

 (7,211)

Asset retirement obligation at December 31

 

$

 177,004 

 

$

 161,908 

                                

(1)

Revisions to estimated cash flows during the year ended December 31, 2016 and 2015 are primarily attributable to the acceleration in the estimated timing of abandonment of a large number of our producing properties resulting from decreases in commodity prices used in the calculation of the Company’s reserves as of December 31, 2016 and 2015, respectively, which shortened the economic lives of these properties.  For the year ended December 31, 2016, the increase was partially offset by decreases in the estimates of future costs required to plug and abandon wells in certain fields in the Central and Northern Rocky Mountains.