Quarterly report pursuant to Section 13 or 15(d)

ASSET RETIREMENT OBLIGATIONS

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ASSET RETIREMENT OBLIGATIONS
6 Months Ended
Sep. 30, 2020
Asset Retirement Obligation Disclosure [Abstract]  
ASSET RETIREMENT OBLIGATIONS

NOTE 7 – ASSET RETIREMENT OBLIGATIONS

 

The following table presents the reconciliation of the beginning and ending aggregate carrying amounts of long-term legal obligations associated with the future retirement of oil and natural gas properties for the six-month periods ended September 30, 2020, and 2019, respectively.

 

    2020     2019  
Carrying amount at beginning of period   $ 71,750     $ 303,809  
Panhandle Settlement     (30,227 )      
Payments            
Accretion           2  
Revisions of previous estimates     4,260       8,258  
Carrying amount at end of period   $ 45,783     $ 312,069  

 

Camber has short-term obligations of $25,766 and $30,277 related to the plugging liabilities at September 30, 2020, and March 31, 2020, respectively.