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ASSET RETIREMENT OBLIGATIONS (Tables)
12 Months Ended
Dec. 31, 2013
Asset Retirement Obligations Tables  
Schedule of Change in Asset Retirement Obligations

The information below reflects the change in the asset retirement obligations during the years ended December 31, 2013 and 2012:

 

    December 31, 2013     December 31, 2012  
             
Balance, beginning of the year   $ 28,115     $ 16,567  
Liabilities assumed     -       -  
Revisions     (1,607 )     9,560  
Accretion expense     3,373       1,988  
Balance, end of the year   $ 29,881     $ 28,115