Quarterly report pursuant to Section 13 or 15(d)

ASSET RETIREMENT OBLIGATIONS

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ASSET RETIREMENT OBLIGATIONS
3 Months Ended
Mar. 31, 2022
ASSET RETIREMENT OBLIGATIONS  
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 three months ended March 31, 2022 and the year ended December 31, 2021.

 

 

 

Three months ended March 31,

2022

 

 

Year ended December 31,

2021

 

Carrying amount at beginning of period

 

$ 53,055

 

 

$ 46,748

 

Acquisition of Viking

 

 

-

 

 

 

-

 

Accretion

 

 

1,264

 

 

 

6,307

 

Carrying amount at end of period

 

$ 54,319

 

 

$ 53,055