Asset Retirement Obligation

12 Months Ended

Dec. 31, 2013

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation

(6)         ASSET RETIREMENT OBLIGATION

We recognize the present value of asset retirement obligations beginning in the period in which they are incurred if a reasonable estimate of a fair value can be made. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset. A summary of our asset retirement obligations as of December 31, 2013 is as follows (in thousands):

	Asset Retirement
Asset Category	Obligation			Estimated Life
Oil and gas producing properties	$	2	(1)	27.5 years

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(1) This is a recurring Level 3 fair value measurement.

The following table describes all changes to our asset retirement obligation liability during the years ended December 31, 2013 and 2012 (in thousands):

	2013			2012
Asset retirement obligation at beginning of period	$	4		$	—
Additions during the period		1			4
Revisions of estimates		(3	)		—
Accretion expense		—			—
Asset retirement obligation at end of period	$	2		$	4

During the second quarter 2013, we revised our asset retirement obligation to reflect an increase in estimated life of our HBI oil and gas properties from 15 years to 27.5 years based on estimates provided in a third party reserve valuation.