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Asset retirement obligations
 6 Months Ended
Jun. 30, 2013
AssetRetirementObligationsAbstract  
Asset retirement obligations
4 – Asset retirement obligations

The following is a description of the changes to the Company’s asset retirement obligations for the periods ended June 30, 2013 and December 31, 2012:

   
June 30,
    
December 31,
  
  
  
2013
    
2012
  
             
Asset retirement obligations at beginning of year
  
$
3,317,358
    
$
1,186,260
  
Disposal of assets
    
—
      
(88,650
 ) 
Settlement of liabilities
    
—
      
(55,915
 ) 
Revision of previous estimates
    
—
      
1,797,626
  
Accretion expense
    
71,702
      
94,556
  
Additions
    
10,036
      
383,481
  
Asset retirement obligations at end of period
  
$
3,399,096
    
$
3,317,358
  
Less: current portion
    
542,443
      
452,013
  
Long-term portion
  
$
2,856,653
    
$
2,865,345