Asset Retirement Obligations

12 Months Ended

Dec. 31, 2014

Asset Retirement Obligation Disclosure [Abstract]

Note 16 – Asset Retirement Obligations

The Company has identified but not recognized ARO liabilities related to gas transmission and distribution assets resulting from easements over property not owned by the Company. These easements are generally perpetual and only require retirement action upon abandonment or cessation of use of the property for the specified purpose. The ARO liability is not estimable for such easements as the Company intends to utilize these properties indefinitely. In the event the Company decides to abandon or cease the use of a particular easement, an ARO liability would be recorded at that time.

The Company’s recognized asset retirement obligations represent the estimate costs to retire certain natural gas producing wells. The following schedule is a reconciliation of the Company’s recognized asset retirement obligations for the years ended December 31, 2014 and 2013.

	2014		2013

Balance, January 1st	$	1,145,052	$	1,087,140
Accretion expense		51,466		57,912

Balance, December 31st	$	1,196,518	$	1,145,052

The Company has no assets legally restricted for purposes of settling its asset retirement obligations. As of December 31, 2014 and 2013, the Company had capitalized ARO costs included in property, plant and equipment of $48,954 and $86,415, respectively.