| Schedule of Asset Retirement Obligations |
|
|
|
|
|
|
| Balance, December 31, 2019 |
$ |
16,787,219 |
|
| Liabilities incurred |
99,436 |
|
| Liabilities settled |
(710,577) |
|
Revision of estimate (1)
|
34,441 |
|
| Accretion expense |
906,616 |
|
| Balance, December 31, 2020 |
$ |
17,117,135 |
|
| Liabilities acquired |
662,705 |
|
| Liabilities incurred |
171,390 |
|
| Liabilities sold |
(2,934,126) |
|
| Liabilities settled |
(904,514) |
|
Revision of estimate (1)
|
435,419 |
|
| Accretion expense |
744,045 |
|
| Balance, December 31, 2021 |
$ |
15,292,054 |
|
| Liabilities acquired |
14,538,550 |
|
| Liabilities incurred |
353,008 |
|
| Liabilities settled |
(940,738) |
|
| Accretion expense |
983,432 |
|
| Balance, December 31, 2022 |
$ |
30,226,306 |
|
(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 2020 revision of estimates reflect an adjustment to the estimates for plugging costs. The 2021 revision of estimates primarily reflect updated interests for our working interest partners.
|