Asset Retirement Obligation

12 Months Ended

Dec. 31, 2014

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation

8. ASSET RETIREMENT OBLIGATION

The Company’s mining and exploration activities are subject to various state and federal law and regulations governing the protection of the environment. The Company conducts its operations to protect public health and the environment and believes its operations are in compliance with the applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. Estimated future restoration and reclamation costs are based principally on legal and regulatory requirements.

Changes to the Company’s asset retirement obligation are summarized below:

	December 31,
	2014			2013
Balance, beginning  of period	$	3,834		$	4,498
Additions, changes in estimates and other		136			584
Liabilities settled		(199	)		(1,638	)
Accretion expense		425			390
Balance, end of period		4,196			3,834
Less: Current portion		(196	)		-
Non-current Portion	$	4,000		$	3,834

Additions and changes in estimates during the year ended December 31, 2014 were primarily related to changes in estimated timing of when the restoration and reclamation activities will occur along with changes in the costs estimated for plugging and abandonment activities at our South Texas ISR projects. As of December 31, 2014, the Company’s ARO was fully secured by surety bonds totaling $9,169, which were partially collateralized with restricted cash totaling $3,941.