ASSET RETIREMENT OBLIGATION (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset Retirement Obligation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Change in Asset Retirement Obligation |
A reconciliation of the asset retirement obligation for the years ended December 31, 2023, 2022 and 2021 is as follows:
(1)Several factors are considered in the annual review process, including current estimates for removal cost and estimated remaining useful life of the assets. The 2021 revision of estimates primarily reflect updated interests for our working interest partners.
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| Schedule of Asset Retirement Obligations |
The following table presents the Company's current and non-current asset retirement obligation balances as of the periods specified.
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- References No definition available.
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- Definition Tabular disclosure of the carrying amount of a liability for asset retirement obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Tabular disclosure of the changes in carrying amount of a liability for asset retirement obligations, for changes such as new obligations, changes in estimates of existing obligations, spending on existing obligations, property dispositions, and foreign currency translation. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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