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Asset Retirement Obligation
 12 Months Ended
Dec. 31, 2014
Asset Retirement Obligation  
Asset Retirement Obligation

3.Asset Retirement Obligation (“ARO”)

The following table reflects a reconciliation of the Company’s ARO liability:

 

 

 

 

 

 

 

 

 

 

For the year ended December 31,

 

    

2014

    

2013

    

 

 

 

 

 

 

 

 

Beginning ARO

 

$ 
8,420 

 

$ 
8,494 

 

Liabilities incurred

 

 
381 

 

 
368 

 

Liabilities settled

 

 
(346)

 

 
(258)

 

Accretion expense

 

 
254 

 

 
276 

 

Revision to estimated cash flows

 

 
224 

 

 
(460)

 

Gain on settlement

 

 
(80)

 

 

 -

 

Ending ARO

 

$ 
8,853 

 

$ 
8,420